Re: Community Discussion: Credit Score inaccurate

On Friday, May 26, 2023 at 12:48:13 PM UTC-5, John Pollard wrote:
> Community Discussion: Credit Score inaccurate 

Here's a newer Community Discussion on this subject.  https://tinyurl.com/4mcfc3vr

The original poster in that discussion pretty much gets it right, so hopefully other Community users will read the discussion and reassess their complaints.

I have a couple of fairly minor disagreements with the op's conclusions however.

My first disagreement is that I don't think that the only (or necessarily even the primary) Quicken user mistake when comparing credit scores is, that they are comparing the Equifax/Quicken VantageScore 3.0 to FICO scores. While that is certainly a possible explanation for some score differences, as I suggested earlier; it should be noted that, of the three credit bureaus, both Equifax (the Quicken credit score supplier) and TransUnion use VantageScore 3.0 - only Experian uses FICO (and the most important score for the complainant's purposes is the Equifax score at the Equifax web site). 

I think comparing the VantageScore 3.0 credit score in Quicken to other credit bureau VantageScore 3.0 scores that are newer than the credit score in Quicken is also a likely explanation for perceived score differences.

My second disagreement is that the op assumes the misleading wording (*) in the Quicken credit score display is created by Quicken. Not only is there NO evidence that Quicken is creating that wording; but given the fact that it would be a trivial matter for Quicken to have already corrected that wording if they could, I feel pretty certain that Quicken cannot fix that wording. As I noted earlier, I believe the entire Quicken credit score display is created by Equifax, and can only be changed by Equifax.

[(*) The misleading wording in Quicken is located in the second section of the Quicken Credit Score descriptive display, and reads "CREDIT CARD DEBT  CREDIT CARD LIMIT" - but the amounts associated with that text include mortgages. Most complainants appear to have based their complaints entirely on assuming that the misleading text in Quicken defined how the credit score was computed - which is almost certainly not true.]