FICO Score. Different criteria?

Question

I usually answer these questions, but now I'm puzzled. I just purchased my score from Equifax and Experian through the MyFICO.com site. Equifax came back as 813 listing a handful of positive factors and stating that because it's so high there are no negative factors. Experian gave me 819, no positive factors, and two negative factors (recent credit and a high balance) that seem to indicate that if they had used the same method to arrive at the score as Equifax, it would be even higher.

I thought everyone used the same factors, just gave them slightly different point values. Why would one say everything is way cool, and the other slap my hand for buying a new car and getting a Kohl's charge? (They have really great sales for cardholders! I had to. :)

"Gee, girl, how high do you want it to go?" I can hear it now. It's really an acedemic question. I'm satisfied with the scores.

Equifax:

Here are the top factors that reflect your good credit behavior (they are listed in priority of impact on your score):

- You have no late payments reported on your credit accounts
- You demonstrate a relatively long credit history
- You have a low proportion of balances to credit limits on your revolving accounts
- You have established bank/national revolving credit obligations being reported

Under "Negative" it read that there were no actionable factors, but on Experian there were no positive, just a caveat and:

Here are the top factors where you have the most opportunity to take action that will increase your FICO score over time (they are listed in priority of impact on your score):

- You have recently been seeking credit or other services, as reflected by the number of inquiries posted on your credit file in the last 12 months [1 credit three auto, which counts as 1]
- You have a relatively high number of accounts with balance [Umm, two]

Answer 1

There is always room for improvement. That is probably what Expirian is trying to tell you. Excellent score, by the way.

Answer 2

I have never heard of positive factors. Score model shows factors why your score is not higher, most recent being the first listed. Credit to new to rate, is a negative factor as is loan amount to loan balance too high.

I bet the 3 CBCs' are not all showing your car, and that is why they are not all reporting negative factors. Across from each account it should show the company reporting it.

If they all had similar scoring formulas we would not need 3 credit bureaus.

Answer 3

They each have different computer models, so what's important to Fair Issac may not be so to Equifax. Banks usually use the middle score of the three.

Answer 4

Same criteria. Different inputs.

and



FICO is somewhat of a RNG


Random Number Generator.


Remember FICO is not YOUR friend. It is a number for corporations to decide what the likelihood they will profit off of you is.

Answer 5

Not everything is reported to every bureau.