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Differences in Credit Report on MyFico Vs. Equifax....

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cd73
Established Member

Differences in Credit Report on MyFico Vs. Equifax....

So today I ordered an Equifax report from MyFico and saw some things on my report I could have sworn were taken off.  So I ordered a report from Equifax so I could dispute the items and when I ordered the report, the item was not listed.  As was not a few other things with Discreprencies.......whats going on here?  Which report can I trust if lenders for either Auto/Home/Credit Cards are pulling?

 

Thanks in advance...

Message 1 of 11
10 REPLIES 10
smallfry
Senior Contributor

Re: Differences in Credit Report on MyFico Vs. Equifax....

Get a paper copy of Equifax report from Equifax. In this case I would trust Equifax 100 out of 100 times.

Message 2 of 11
RobertEG
Legendary Contributor

Re: Differences in Credit Report on MyFico Vs. Equifax....

Curious, and excellent, question. 

I was always under the impression that Fair Isaac does not themselves database current credit data, and it is my further understanding that current CRA data does not even go back to Fair Isaac prior to scoring.  Rather, it is my understanding that Fair Isaac licenses their algorithms up-front to the CRAs, and thus the reports and scores you get are all generated at the CRA and should be instantaneous and the same as of the same time of request.

So maybe their is a lag between the myFICO commercial service, who does a second review of your CR for commercial genaration of their myFICO reports, and your true and current CR and score wit the CRA?  I dunno.  Maybe someone canshed some light on this....

Message 3 of 11
Anonymous
Not applicable

Re: Differences in Credit Report on MyFico Vs. Equifax....

 


@smallfry wrote:

Get a paper copy of Equifax report from Equifax. In this case I would trust Equifax 100 out of 100 times.


+1

 

Message 4 of 11
Anonymous
Not applicable

Re: Differences in Credit Report on MyFico Vs. Equifax....

Yes, there is a lag.    As Robert stated in another thread, what's at myFico isn't necessarily what's on other reports you would receive from the bureaus.  How long ago were the items disputed and removed?  If it was just a couple weeks ago, or days ago, give it time to catch up.  If it was six months ago or years ago, I'd be worried, too.  How long has it been?  If it has been six months or years ago, and they're still coming up on myFico but not your report from the bureaus themselves, perhaps a myFico employee or supercontributor can explain what the deal is, and how to fix that?

Message 5 of 11
cd73
Established Member

Re: Differences in Credit Report on MyFico Vs. Equifax....

I cant remember but I want to say it has been many months ago, not quite a year but not too far from it.  Its a pretty hefty one too, it was a $4000 default  which was actually my mothers but showed up on my credit report under my SS#.  They had garnished MY wages for this even though it wasnt even my name, it was a nightmare to fix, but its now all settled with the company and should have been removed.  I almost couldnt get a car last year because of it.  If anyone from myFICO can shed some light on this that would be appreciated.....

Message 6 of 11
cd73
Established Member

Re: Differences in Credit Report on MyFico Vs. Equifax....

Bump
Message 7 of 11
smallfry
Senior Contributor

Re: Differences in Credit Report on MyFico Vs. Equifax....

You can get EQ SW for $60 annually. You can always get an EQ report. Go from there.

Message 8 of 11
Jazzzy
Valued Contributor

Re: Differences in Credit Report on MyFico Vs. Equifax....

Hi cd73,

 

I would recommend that you post this question on the myFICO Product Feedback forum that is located in the category This 'n' That. Barry, who works with ScoreWatch often posts there and may have some answers or advice for you.

Message 9 of 11
Barry
Administrator Emeritus

Re: Differences in Credit Report on MyFico Vs. Equifax....

 


@RobertEG wrote:

Curious, and excellent, question. 

I was always under the impression that Fair Isaac does not themselves database current credit data, and it is my further understanding that current CRA data does not even go back to Fair Isaac prior to scoring.  Rather, it is my understanding that Fair Isaac licenses their algorithms up-front to the CRAs, and thus the reports and scores you get are all generated at the CRA and should be instantaneous and the same as of the same time of request.

So maybe their is a lag between the myFICO commercial service, who does a second review of your CR for commercial genaration of their myFICO reports, and your true and current CR and score wit the CRA?  I dunno.  Maybe someone canshed some light on this....


You're right about who does what in this process, RobertEG. For the most part, the reports you get from EQ and myFICO should be identical as of the same point in time.  If you're seeing otherwise, I would suggest contacting myFICO customer care.

 

Message 10 of 11
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