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BAYLOR

Can you please tell me who is lying to me?

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I am a member of equifax monthly score watch program and I just paid off huge sums of credit card debt in the last 3 months.

 

I have been waiting patiently to get an alert that my credit score is improving but its never changed, even going from 97% credit card debt to 45%, over 7K in payments.

 

It was 637 3 months ago, and its still 637 today after all the payments I have been making.

 

Then I decieded to pay an extra 14 bucks to buy an equifax credit report even thou the score watch is supposed to update you instantly for free.

 

I pay the extra money and it still shows 637.So both score watch and the actual report say the same thing. I even checked the balances that it shows that I owe on all the credit cards, and this info is correct. It shows all the new payments I made, so its not because my new info has not been reported. It even shows my 45% credit card debt instead of the 97% it was 3 months ago.

 

So my credit card debt was 97% 3 months ago with a 637 and now 3 months later at 45% its still 637.

 

But here is the REAL Kicker

 

 

I pony up another $25 by going to experians website to get all 3 of my scores at the same time to see if the other 2 are still in the same 640ish range. What I was expecting to see was 2 scores around 720 or so and equifax to be 637.

 

BOY was I surprised

Equifax is showing 724 at Experian, a few points higher then the other 2!

 

How in the heck can I have 2 different Equifax scores on the same day?

 

Which one is correct?

 

I was able to see a 6 month trend of my scores on Experians website and it correctly shows a big score jump in the last 3 months like it should.

 

Does this mean that Experian can more correctly give me an Equifax score then Equifax itself?

 

This is just crazy. I dont know which one to believe.

The equifax score on the Experian triple score seems much more accurate because anytime I use one of the credit simulators that you see all over the internet it shows my score should be around 720 which is what Experian shows my Equifax score to be.

 

 

Please help me make since of the mess.

Edited by BAYLOR

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The only real score is the FICO score.

 

I dont understand. I thought there were 3 scores.

 

When you go buy a car they use one of these 3.

 

So you are telling me I have been spending $10 a month for the last 2 years on something that is meaningless?

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The only real score is the FICO score.

 

 

Can you please give me an accurate website to see this FICO score?

 

I just googled FICO and I see a FICO equifax and a FICO Transunion on myfico.com

 

I dont see a FICO Experian.

 

Is this the real FICO you are talking about?

 

Are you telling me that a FICO equifax is different from the plain equifax that you get at equifax.com

 

 

What a mess these companies are if this is true

Edited by BAYLOR

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www.equifax.com sells EQUIFAX FICO scores

most people like to buy their ScoreWatch product because you can quite often get updates as to your current score, any other EQUIFAX product sold on their website that includes a credit score is your EQUIFAX FICO score............these are classical scores

 

www.experian.com sells FAKO scores (they're called PLUS scores)

 

www.myfico.com sells FICO scores from EQUIFAX, TRANSUNION, AND EXPERIAN

............these are classical scores

 

(if you can’t get your score from www.myfico.com this is most likely because you have a fraud alert on your credit file and you can READ HERE to learn more about this)

 

http://www.creditboards.com/mambo/index.php?option=com_content&task=view&id=12&Itemid=2

 

Cept Experian no longer sells Fico scores.

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True Equifax and TransUnion FICO scores can be bought at myfico.com

 

Normally the scores sold from Equifax's website are just FAKO scores, not your real FICO score.

 

Experian no longer offer's FICO scores to consumers. You can get your true Experian FICO score from a LO or through PSECU.

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Ok I just spent another $39 getting both equifax and Transunion scores at Myfico.com

 

My equifax is showing the same 637 that the equifax website is showing, but my transunion is showing 717.

 

Thats an 80 point difference.

 

How can that be?

 

Is this normal?

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True Equifax and TransUnion FICO scores can be bought at myfico.com

 

Normally the scores sold from Equifax's website are just FAKO scores, not your real FICO score.

 

Experian no longer offer's FICO scores to consumers. You can get your true Experian FICO score from a LO or through PSECU.

 

Equifax sells fico scores via Scorewatch which is why I made a point to show that link.

 

http://creditboards.com/forums/index.php?showtopic=451302

Edited by beli

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Baylor, as the others said, your only scores that matter are FICO. Those are the scores most creditors use. There are different versions of FICO as well, so what you see on myfico.com might not be what a potential creditor sees. For example, auto dealerships use an auto-enhanced score, which varies slightly from the scores you see when you purchase your scores. Likewise, mortgage lenders use a mortgage-specific score. I believe, however, that all of the basic components of each score are the same (i.e., the percentage of the score that relates to payment history (35%), utilization/available credit (30%) and so on) no matter which version a potential lender uses. Uning the auto dealership example, the auto enhanced score seems to weigh more heavilly existing and former car loans you have or have had, as well as overall installment loan payment history.

 

One more thing, and others can correct me if I'm wrong, I don't believe your utilization component of FICO will have improved going from 97% to 45%. I don't think it will improve until you get to less than 30% utilization, and again at 10% utilization (this is untested by me because I've never had utilization that high).

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Ok I just spent another $39 getting both equifax and Transunion scores at Myfico.com

 

My equifax is showing the same 637 that the equifax website is showing, but my transunion is showing 717.

 

Thats an 80 point difference.

 

How can that be?

 

Is this normal?

 

If you would of waited you could of received a myfico discount and paid less. In the future follow this thread ----------> myfico.com discount thread

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So I think that I heave read that EQ Complete is both FICO & FAKO in this thread. So which one is it?

 

FAKO

 

You can buy an EQ FICO from EQ, but it doesn't come with Complete.

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So I think that I heave read that EQ Complete is both FICO & FAKO in this thread. So which one is it?

 

FAKO

 

You can buy an EQ FICO from EQ, but it doesn't come with Complete.

 

Is that product SW (Scorewatch) that gives you the FICO?

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Scorewatch seems to be the same as the real FICO. I got the same score on both, so it must be real.

 

What I cant understand is Equifax is saying my score is low because of high credit usage, and Transunion is telling me that my score is very good because of low credit usage.

 

I just checked all my accounts at both agencies, and they both have the same info at around 45%.

 

So how can the criteria be so different between Equifax and Transunion?

 

 

I am talking about the real scores from myfico.com

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So I think that I heave read that EQ Complete is both FICO & FAKO in this thread. So which one is it?

 

FAKO

 

You can buy an EQ FICO from EQ, but it doesn't come with Complete.

 

Is that product SW (Scorewatch) that gives you the FICO?

 

There may be others but that one does, yes.

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Well let me ask this advice.

 

If im a 724 at TU and 637 at EQ, would it be a good idea to call my CC companies and ask them to raise my credit limit?

 

Is my scores good enough to get approved?

 

I could not care less about getting more CL, I will never use another CC again.

I just want to increase my CS.

 

All my CC are paid off in the last 3 months. The only revolving account I have left is a credit line that I have 8K left on. I paid over 7K in CC debt the last 3 months to go from 97% to 45%

 

 

My CC limits are 4K 2.5K, 2K, 1K and $300. I had every single one of these maxed out 3 months ago, now they are all zeroed out. the 7K credit line is the only thing counting against me in the revolving percentage.

 

 

I will be able to finish off the 7k that I owe withen 6 months, but I would like a new vehicle at 0% interest a lot sooner then that.

 

 

Will I get turned down for CL increases?

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Scorewatch seems to be the same as the real FICO. I got the same score on both, so it must be real.

 

What I cant understand is Equifax is saying my score is low because of high credit usage, and Transunion is telling me that my score is very good because of low credit usage.

 

I just checked all my accounts at both agencies, and they both have the same info at around 45%.

 

So how can the criteria be so different between Equifax and Transunion?

 

 

I am talking about the real scores from myfico.com

Eq is more accurate because they use (I forgot the term) a newer angorthem than TU. EQ uses an 08 model and I forgot which one TU uses I think 04 still? (someone can correct me if I'm wrong) 45% is still considered high Utl usage. Ideally you'd want 30% and under, while under 10% being ideal. This is why your score hasn't changed. Your score is still considered in the same bracket as when you had 97% Ult. Plus it does take a couple months for scores to chatch up specially if they dropped becuase of Ult usage. I would not be asking for CLI at this time. With 45% Utl you run the risk of your creditors slashing what CLI you have to possibly what your blanance is or a few hundred above that, or closing the card all together. Do a search here on Utl and you'll get a pretty good sense of how Utli affects your scores.

Edited by beli

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All my CC are paid off in the last 3 months. The only revolving account I have left is a credit line that I have 8K left on. I paid over 7K in CC debt the last 3 months to go from 97% to 45%

 

 

My CC limits are 4K 2.5K, 2K, 1K and $300. I had every single one of these maxed out 3 months ago, now they are all zeroed out. the 7K credit line is the only thing counting against me in the revolving percentage.

 

 

I will be able to finish off the 7k that I owe withen 6 months, but I would like a new vehicle at 0% interest a lot sooner then that.

What is the credit limit on your line of credit with the 7K/8K balance? Do your EQ and TU credit reports show exactly the same accounts? Do you have any negatives on either/both reports, such as late payments? Are any of the five smaller-limit accounts Visa Signature-type accounts?

 

Utilization change from 97% to 45% should improve your score slightly, but not as much as you expected. Five accounts going from maxed-out to $0 should also improve your score somewhat. It would seem that something else has negated those improvements on the EQ report. It also seems that there should be something obviously different between the EQ and TU reports to cause an 80-point difference, although the difference between EQ's formula and the TU-98 formula could account for some of that 80 points ...

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this thread should be a sticky...

yes, I agree.

 

 

:rofl: :rofl: :rofl:

 

I love when you talk to yourself Hege!

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this thread should be a sticky...

yes, I agree.

 

 

:rofl: :rofl: :rofl:

 

I love when you talk to yourself Hege!

I have found that agreeing with oneself denotes self-awareness and cognitive alignment.

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