FICO Score Difference

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Smart_Shopper
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FICO Score Difference

Postby Smart_Shopper » Tue Mar 10, 2015 4:49 pm

Checking my FICO score on my credit card statements, I noticed a huge difference between Experian and Transunion. On my accounts that report TU, the score ranges since January have been between 736-757. The score for EX was 694. Is it common to have a 40 -50 point difference between scores?

Checking my CR, TU reports one TL that EX doesn't, their are no late/missed payments or collection activity on any open accounts. The factors affecting score section mentions late/missed payments affecting my score. EX does report a missed payment from 5 years ago on a paid and closed account, but I wouldn't think that that would cause such a significant score difference. Also, that loan had 4 years and 11 months of on time payments except for the miss 5 years ago. This account was paid has been closed for 2 years ago.

Thoughts?


takeshi
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Postby takeshi » Wed Mar 11, 2015 8:52 am

Smart_Shopper wrote:Checking my FICO score on my credit card statements, I noticed a huge difference between Experian and Transunion. On my accounts that report TU, the score ranges since January have been between 736-757. The score for EX was 694. Is it common to have a 40 -50 point difference between scores?

A given score is generated from the data in a report. If you're comparing scores using the same model and they differ then review the reports to see the data differences. It's not unusual for different CRA's to have different data. What's common or not doesn't really matter. It's the data and scoring model that will affect the scores.

Smart_Shopper wrote:Checking my CR, TU reports one TL that EX doesn't, their are no late/missed payments or collection activity on any open accounts. The factors affecting score section mentions late/missed payments affecting my score. EX does report a missed payment from 5 years ago on a paid and closed account, but I wouldn't think that that would cause such a significant score difference.

It's certainly possible for all that to add up and account for the difference. Derogs tend to have a significant impact though they usually taper off as they age. That's why the first recommendation for anyone building/rebuilding is to address any derogs.

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Vattené
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Postby Vattené » Wed Mar 11, 2015 10:38 am

It certainly seems like a big difference to me, but I couldn't tell you how common it is. As takeshi mentioned it's all based on the information from the CRA, and when the input differs the output will, too. The only thing you can do is get your credit reports from each bureau and make sure no information is incorrect.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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