Neil Jones wrote:
>
> How do the 3 companies (TransUnion, Experian and Equifax) come up with
> uneven FICO numbers for consumers. I had some medical expenses that
> entered into my credit reports year ago (while I was getting divorced
> and lost my job). I have paid off these debts on the credit reports.
> However, the score of each company is different. TransUnion still has
> my paid debts as "Unpaid" and gives me a high score. Equifax lists my
> debts "Paid off" but gives me a low score. ????
>
> I do use my credit card minimally (as opposed to extravagantly) for
> normal expenses. Now, to improve my credit score, do I use all the 5
> credit cards evenly or just focus on using one card and keep paying it
> off on time?
>
> Thank you in advance for any information or advice.
>
> NJ
They are different, well, because they *are* different. FICO aka "Fair
Issac" is a company that compiles data on you. Each credit agency takes
that information and computes their own score, based on their own
computations and criteria. If you will actually read the individual
"score" reports from each company you will note that they *do not* use
the same numeric scale.
I have my "VantageScore from Experian" right in front of me. It nowhere
says on the report that it is a "FICO" score. It specifically says the
"Range of possible credit scores is between 501 - 990." If you compare
that to the "scores" from other credit reporting agencies you will find
that other agencies use a different low-high range for their scoring.
They are different, becaue they are different. READ the report, besides
just looking at a three digit number on it.
Rick
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> How do the 3 companies (TransUnion, Experian and Equifax) come up with
> uneven FICO numbers for consumers. I had some medical expenses that
> entered into my credit reports year ago (while I was getting divorced
> and lost my job). I have paid off these debts on the credit reports.
> However, the score of each company is different. TransUnion still has
> my paid debts as "Unpaid" and gives me a high score. Equifax lists my
> debts "Paid off" but gives me a low score. ????
>
> I do use my credit card minimally (as opposed to extravagantly) for
> normal expenses. Now, to improve my credit score, do I use all the 5
> credit cards evenly or just focus on using one card and keep paying it
> off on time?
>
> Thank you in advance for any information or advice.
>
> NJ