Personal Finance

Confused by scoring variance on same trade reports from bureau to bureau

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  • Jun 17th, 2016 6:03 pm
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[OP]
Jr. Member
User avatar
Apr 24, 2016
131 posts
43 upvotes

Confused by scoring variance on same trade reports from bureau to bureau

Last Month Scores:
TU: 688
EQ: 661


Overnight my Cap One reported for the first time along with a new Fido Account.

Resulting scores:
TU:705 (17 point bump)
EQ:633 (28 point DROP)


Has anyone else noticed similar activity?
Can anyone help me understand why?
3 replies
Newbie
Oct 4, 2015
30 posts
24 upvotes
Richmond Hill
Transunion and Equifax have their own scoring system that they claim is the best for evaluating someones credit worthiness. It just may be the case that Transunion decided that the reported accounts should result in an increase in your credit while Equifax decided that it should be decreased. It's very natural for their scores to be varied, and although the difference is a lot right now they may start to become more closely aligned within a few months due to their formulas.
Deal Addict
User avatar
Sep 9, 2012
4371 posts
3660 upvotes
Oakville, ON
OttawaOldtimer wrote: Last Month Scores:
TU: 688
EQ: 661


Overnight my Cap One reported for the first time along with a new Fido Account.

Resulting scores:
TU:705 (17 point bump)
EQ:633 (28 point DROP)


Has anyone else noticed similar activity?
Can anyone help me understand why?
Did both new accounts get posted to both bureaus or just one? If just one, which one? Which bureau had the inquiries that led up to the accounts being approved/open - both or just one? If one which one?

Is there any other differences in the data on each bureau?

Generally speaking, they can each only score based on the data that they have. If the other has any more or any less data than the other then the scores for each are more likely to be different - even dramatically different.
Deal Fanatic
Apr 16, 2007
8008 posts
3305 upvotes
Financial District B…
OttawaOldtimer wrote: Last Month Scores:
TU: 688
EQ: 661


Overnight my Cap One reported for the first time along with a new Fido Account.

Resulting scores:
TU:705 (17 point bump)
EQ:633 (28 point DROP)


Has anyone else noticed similar activity?
Can anyone help me understand why?
Varying degrees of bureau inquiries including recent to slightly dated can skew one scoring system to the other.

Also, the date at which each bureau system is pulled can be a factor especially if pulled days to weeks apart.

Lastly, settling of new accts are slightly treated differently by both systems especially if both FI depts follow different rules as they are not always side by side.
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