Why is my Ex FICO 8 higher than EQ

[ace5]

So I have been on a credit repair jorney since last month. I was able to get few collections removed. Now I have 0 collections on my EQ but yet EQ score is lower than EX which has 2 collections left. I also have 3 AU accounts reported on EQ but not on EX

EQ - FICO 8 - 550

Accounts-

AU - CapOne QS - $3500 - No lates

AU - Capone Plat - $3850 - No lates

AU - BofA CR - $7900 - No lates

Utilization - 1%

0 collections

$4197 WF Auto loan charge off

BofA charge off - $0 - Settled less than full

Average age - 4.2

 3 inquiries

EX - FICO 8 - 553

$4197 WF Auto loan charge off

BofA charge off - $0 - Settled less than full

$965 collection utility

$540 collection - progressive

AU not reported

AAoA - 5.10

2 inquiries

Wondering why EX is higher than EQ even when EX has no accounts open. I am not sure if AAoA makes such a huge difference. 

Before someone asks, EX doesn't report AU on an account that has missed payments where as TU and EQ reports payments after the last missed payment.

P.S After my charged off BofA balance went down to $0 after the settlement (which was yesterday), my EQ increased by just 1 point, from 549 to 550. Where as EX increased by 34 points.

[RonM21]

OP, I have been looking at this over and over, trying to see something that signals why your EX is higher. The one thing that stands out is that you AAoA is higher on the EX. That is interesting because you said your AU's are not included on your EX report? If so, I would've thought that your AAoA would certainly be higher on EQ if those accounts ARE included. Something just seems off or missing here.

[ace5]

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@RonM21 wrote:
OP, I have been looking at this over and over, trying to see something that signals why your EX is higher. The one thing that stands out is that you AAoA is higher on the EX. That is interesting because you said your AU's are not included on your EX report? If so, I would've thought that your AAoA would certainly be higher on EQ if those accounts ARE included. Something just seems off or missing here.

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Thank you for your reply.

Yes, the only possible reason could be AAoA, but I am not sure if AAoA would have more impact compared to open accounts, AZEO and no collections. 

Yes, AUs are not reported on EX report. AU accounts are younger than my closed accounts and that is why EX AAoA > EQ AAoA. I added myself as AU on my sister's accounts to show open line of credit and she follows AZEO.

I really think my EQ should be higher since it has no collections and 3 AU open accounts. Really trying to figure out how FICO calculated this.

[iv]

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@ace5 wrote:

I really think my EQ should be higher since it has no collections and 3 AU open accounts. Really trying to figure out how FICO calculated this.

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You mention that there are charge-offs on both EQ and EX... those are major negatives that will pull both scores down - the presence of just one major negative is enough. (Collection vs charge-off doesn't really matter here - they are all score-killers.)

[ace5]

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@iv wrote:

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@ace5 wrote:

I really think my EQ should be higher since it has no collections and 3 AU open accounts. Really trying to figure out how FICO calculated this.

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You mention that there are charge-offs on both EQ and EX... those are major negatives that will pull both scores down - the presence of just one major negative is enough. (Collection vs charge-off doesn't really matter here - they are all score-killers.)

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I definitely understand what you are saying and how big of a deal a charge-off is. But shouldn't EQ be higher considering the fact that there are 2 charge-offs/collections compared to 4 charge-offs/collections on EX. Also IMO, the open AU accounts in good standing on EQ should boost the score a little. I know that AAoA >5 years is helpful but didn't know it will have a greater impact than having open accounts. 

[iv]

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@ace5 wrote:

But shouldn't EQ be higher considering the fact that there are 2 charge-offs/collections compared to 4 charge-offs/collections on EX.

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Not really... the biggest impact by far is the difference between having NO major negative items, and having at least one major negative item.  After that, the difference between 1, 2, 3, 4, etc items is (as you've seen), not that noticable.

Yes, this means that you won't see the biggest score jump until ALL major negative items are removed.

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@ace5 wrote:

Also IMO, the open AU accounts in good standing on EQ should boost the score a little. I know that AAoA >5 years is helpful but didn't know it will have a greater impact than having open accounts. 

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First, be aware that AU accounts may not always count on FICO 8/9 at all.

In your case, though, it sounds like they are counting - based on the way your BOA settlement affected your scores. (EQ not moving, since the AU accounts had been providing a utilization buffer for the 100% util of the now-settled account, but EX without the AUs jumping to the same approximate score as EQ once the settlement brought the account to $0.)

Also keep in mind that +/- 3 points is effectively identical for FICO scores - the models are designed to be only within +/- 30 points across the three CRAs for roughly similar files.

[ace5]

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@iv wrote:

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@ace5 wrote:

But shouldn't EQ be higher considering the fact that there are 2 charge-offs/collections compared to 4 charge-offs/collections on EX.

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Not really... the biggest impact by far is the difference between having NO major negative items, and having at least one major negative item.  After that, the difference between 1, 2, 3, 4, etc items is (as you've seen), not that noticable.

Yes, this means that you won't see the biggest score jump until ALL major negative items are removed.

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@ace5 wrote:

Also IMO, the open AU accounts in good standing on EQ should boost the score a little. I know that AAoA >5 years is helpful but didn't know it will have a greater impact than having open accounts. 

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First, be aware that AU accounts may not always count on FICO 8/9 at all.

In your case, though, it sounds like they are counting - based on the way your BOA settlement affected your scores. (EQ not moving, since the AU accounts had been providing a utilization buffer for the 100% util of the now-settled account, but EX without the AUs jumping to the same approximate score as EQ once the settlement brought the account to $0.)

Also keep in mind that +/- 3 points is effectively identical for FICO scores - the models are designed to be only within +/- 30 points across the three CRAs for roughly similar files.

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Thank you!

THis explains everything. Guess the only thing to do now is wait for the charge-offs to age. And may be add an installment account to the mix,