     John Shimmer (Jshimmer) | Wednesday, January 17, 2001 - 04:02 pm 
Just thought I'd add to the collection of info regarding credit scoring.
The credit scoring models are such a crock.
Ten months ago:
FICO (Experian): 560
Beacon (Equifax): 642
Emperica (TU): 631
Today:
FICO: 677
Beacon: 692
Emperica: 700
Changes:
.Closed two CrossCountry accounts (total $1300 on $4000 credit lines)
.Closed Dayton-Hudson (was $370 on $750 credit line)
.Close Verizon(Airtouch) (was a monthly payoff)
.Removed $935 unpaid charge-off, was on TU only, was 6.5 years old 10 months ago)
.Removed duplicate unpaid collection (I paid the original collection of $408 and that was removed from all 3 as well) from all 3 CRA's
.Removed paid collection from EFX $211 - ODD is 11/94, still on EXP,TU now
.Removed Ford repo from EFX & EXP, still on TU as PAYMENT AFTER REPO, ODD is 11/94
.Removed Conseco repo of mobile home from all 3, was PAID AFTER REPO, ODD was 10/93
.Removed paid collection $85 from EFX & EXP, still on TU as PAID COLLECTION, ODD is 4/95
.Removed paid collection $408 from EXP & EFX, was never on TU, ODD was 5/95
.Chapter 13 BK was removed in 11/00 due to 7 year age, was on all 3.
.Added Fleet Platinum 10/99, $9k limit, $704 balance
.Added Wachovia Platinum 10/99, $10k limit, $15 balance
.Added $5k personal loan from Credit Union 10/99, now = $3445 balance
.Added $158k mortgage, 3/00
.Added one inquiry to each of the burueas plus multiple inquiries for mortgage (pulled once @ each in 11/99 and again 3/00 before closing)
Tons of changes, which explains the scores going up, but the wierd thing is WHERE the scores went up:
TU is at 700, but it's the only one still having the 12/94 Ford repo on it, and the only one with the $211 paid collection from 11/94 (all three have the other two paid collections, $52 @ 8/95 and $85 @ 4/95). TU even has a duplicate account for a $1000 overdraft line of credit (balance $260), and EFX & EXP only show one (trying like hell to get TU to delete that sucker!). Basically, my TU has more derogs (only 4 vs. 17 good), but the highest score!
EFX & EXP are almost identical to eachother, but EFX does not have the 1.5 year old personal loan on it and has more inquiries -- but the score is at 692 while EXP is at 677!! Go figure.
TU has the car repo (paid), an additional paid collection, a duplicate CU overdraft loan and more inquiries, but it's a 700!
It just goes to show you that, no matter what the hell is at each bureau, the scores will be different, and there is NO sense to the score at all. Gheesh! |
| douglas pratt (Dougpratt) | Wednesday, January 17, 2001 - 09:20 pm
FICO scoring is pure QUACKERY--- read some of my posts, then let's join together and put an end to it in court. my credit history is spotless, and i mean spotless, not even one 30 day late payment. EFX is 653, TU is 688, EXPeriFUC is 625. without a middle score of 680 or higher, you're branded as mortgage industry trash. 680+ is golden apples.
if computer modeling this complex could actually be done correctly, (un)fair isaac wouldn't be traded on wall street, they would own wall street.
FICO credit scoring just plain sucks-- * |
