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 
> Found at: https://tinyurl.com/2fdpck65 
> ALSO 
> Community Discussion: Credit Score Mortgage Issue 
> Found at: https://tinyurl.com/4xjrsk7j 

> The referenced Quicken Community discussions are just examples of the issue I'm attempting to address here. 
> 
> This post is intended to shed some light on a complaint that frequently occurs in the Quicken Community, namely: 
> Why does Quicken "wrongly" include my mortgage loans with my credit card liabilities 
> in the "Credit Card Usage" section of the Credit Score display? 
> 
> While it is true that the (Equifax) Credit Card score presented by Quicken does include mortgage loans with credit card liabilities 
> (and I fully agree that the wording is confusing), it is far from clear that the credit score presented in Quicken 
> was calculated by treating mortgage loans the same as credit card liabilities. 
> In fact, there is virtually no legitimate evidence presented by any user to demonstrate that the two liabilities 
> are being treated the same when computing the credit score. 
> The only "evidence" is that the total amount of Quicken credit card debt and the total amount of Quicken mortgage debt 
> are added together in the credit score box labelled "Credit Card Usage" 
> (confusing to be sure, but not definitive of how those amounts are being used in the credit score calculation). 

When I first started this discussion, my Quicken Credit Score was computed in April 2023. It has now been 3 months and I have a new Quicken Credit Score (as of July 8, 2023).

My new (July 8, 2023) Quicken Credit Score is 2 points higher than my July 9, 2023 credit score at Equifax. 
I attribute that minor difference to a "credit inquiry" that Equifax has factored into my 
credit score, but which will not affect my Quicken credit score until my next Quicken 
score is available in 3 months.

Further, my new Quicken Credit Score "display" now correctly does NOT include mortgage 
debt in the same box as credit card debt. 
That, in turn, causes my Quicken Credit Score display of "Percentage of credit limit usage" 
to agree with my actual "Percentage of credit limit usage".

The only downside to the change in presentation of "credit limit usage", is that it is not possible to 
demonstrate conclusively that the incorrect credit limit usage percent originally displayed in Quicken 
(for me, back in April) was not used to compute the ultimate credit score.

At the end of the day, I remain convinced that:
a.) the Quicken credit score was always "correct" 
(that it was the same as the score at Equifax as of the date of the Quicken credit score), and
b.) that the users who complained that the Quicken credit score issue was not fixed when 
Quicken reported that is WAS fixed, were wrong. 
The only problem was that Quicken users only get a new Quicken credit score 
every 3 months; and until that 3 months had past, the old Quicken 
credit score display would remain exactly the same.