Why the Score Difference Between EXP and TU, EQ?

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IWant850
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Why the Score Difference Between EXP and TU, EQ?

Postby IWant850 » Wed Aug 24, 2016 9:52 pm

Hi!

Can anyone tell Me why there is about a 50 Point difference between
My Scores at TU, EQ and EXP?

EXP is running about 50 Points Lower than TU and EQ...is this Normal
and which Score should I consider to be the more Accurate?

Which Score do Creditors look at most?

All Feedback is Greatly Appreciated. :cool:


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PhillyPhoto
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Re: Why the Score Difference Between EXP and TU, EQ?

Postby PhillyPhoto » Thu Aug 25, 2016 8:32 am

Where are you pulling the scores from? Each place can use not only different scoring models (FICO, VantageScore at CreditKarma, etc), but can use different criteria for each of those models. After that, not each report has the same information in it (inquiries, accounts, balances, etc), so even using the same model and criteria can result in different scores. Each creditor has their own "favorite" bureau they look at, so that's why you have to check for discrepancies across them all, and can't rely on just one to hope for approval from.
Main Cards:
Amex: Surpass
Citi: ThankYou

Sock drawer Cards:
Amex: Ameriprise Gold, HHonors, MB Plat
Chase: Amazon.com Rewards, Freedom
Citi: Macy's Amex, Simplicity
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal Extras

718 Eq|734 TU (8/16)|733 Ex (9/16)

takeshi
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Re: Why the Score Difference Between EXP and TU, EQ?

Postby takeshi » Fri Aug 26, 2016 8:12 am

IWant850 wrote:Can anyone tell Me why there is about a 50 Point difference between
My Scores at TU, EQ and EXP?

The number generated will depend on both the data in the report as well as the specific scoring model evaluating the data in the report.

You need to carefully compare the reports. You also need to consider the scoring models used for the scores you're referring to.

IWant850 wrote:EXP is running about 50 Points Lower than TU and EQ...is this Normal

Normal covers a wide range of things. It's normal for scores to be close or the same. It's normal for scores to differ a bit. It's normal for scores to differ a lot. It all depends on the specifics of the data and models. Again, you need to review your reports and determine if you're comparing scores generated using the same model. Different models evaluate report data differently and can even have different scoring ranges.

IWant850 wrote:and which Score should I consider to be the more Accurate?

All scores are accurate. Accuracy isn't about how well a score mimics another score. Again, they're intended to evaluate report data differently. You cannot assume that one score is accurate and that other are not.

Creditors use different models in credit decisions. It's relevance of the model/CRA that really matters. If, for example, a TU FICO 8 is used in the decision for a product then that's the only score that is relevant to the decision. You cannot use an EQ FICO 8, an EX FICO 2 a TU FICO 8 Bankcard, etc. to determine the score that will be used in the decision.

IWant850 wrote:Which Score do Creditors look at most?

Most creditors use a FICO model. FICO 8 is the most commonly used model. However, again, you cannot rely on a single model/CRA for all products out there. There are creditors that do not use a FICO model. Even those that use FICO models do not all use the same model.
http://www.myfico.com/crediteducation/f ... sions.aspx


What are you specifically looking to do with the scores? If you want to know where you stand score wise versus a product you need to pull the score used in the decision for the product. If you're just monitoring credit in general you can use just about any model but you need to focus on the bigger trends and not on specific numbers and small changes from one time the score is generated to the next. However, for monitoring purposes, rebuilding, improving and maintaining your credit you really need to focus on your report data and how the data impacts the shape of your credit profile. Any scoring model uses the data in a report to generate a score. Good reports will lead to good scores.



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