Experian credit score gave me a rating 50 points lower than the simulator score, which was set on the correct variables except for 8 inquiries, which credit score gave as zero. What gives? Anyone else have these kinds of discrepencies and would share?
Yes! Mine was 100 points lower on the score than the simulator. This is without manipulating the simulator at all. Experian is my best report, and it still was about 120 points lower than Equifax.
Hi...I posted about a similar problem earlier this week. My Experian report is cleaner than my Experian report - which is still decent - but my score came up in the mid-to high risk categorty. When I check out hte simulator, the bar/slider that corresponds to late payments was auto-set at 90+ days late. I have NO 90 day late payments, nor are any erroneously showing on my report. I called customer service who basically told me to ignore the auto-setting, that it didn't mean anything (even though all other auto-settings were correct). I then inquired why my score would be so low if it wasn't counting me as being 90+ days late...then she launched into a mini-seminar about credit scores being complicated...yada yada yada. A month ago, I discovered a difference between the online and paper Equifax reports - the paper reports show a "Current Status" - either R1, R2, R3, R4 - ontime, 30 days late, 60 days late, 90 days late - my Discover account was being reported as an R4 even though no late payments were actually reported. Don't ask me how this happened, I don't know. I now suspect that this same info is being reported to Experian.
I guess the real question is whether or not the programming code that auto-fills the Simulator is flawed somehow. Until now, I never really cared about seeing the actual formula used to derive my score, I just wanted to know what the score was. But now, I question whether the score formula is using incorrect information - and I have no way of finding that out. Nor do the CRA's seem to have a process to re-check their calculations. So instead they tell me to disregard the simulator...but why would everything else on the simulator be correct except for one category of info? When you argue that based on what's showing on your credit report that you shouldn't be a mid-to-high risk, that the other CRAs rate you as a low to moderate risk - all you get is the standard garbage of how complicated and mysterious the score calculations are.
Nana-simulator There is an icon on the right, I believe, to go to the score simulator. It allows you to adjust certain variables (credit limits, # inquiries, # accounts currently late, etc) and then reflects the impact of say less inquiries, less balance, etc., and how it may impact your score. If customer service says we are to "disregard" the initial score on the simulator, then why even have this feature if you cannot start out with an accurate feature?
