Another credit rating score question

[Drake3287]

Someone explain this one to me, been married over 25 years and ALL of our accounts have always been joint. This weekend we bought a new car and I guess the dealership is required to give you a copy of your credit score. I knew our score was very high but my wife's was 896 while my score was 871. Why wouldn't they be the exact same score? there's nothing to base it on. I don't really care because of the high score rating anyway, but I'm curious at how they come up with this? I have always even made more money than my wife.

[rennigade]

I thought 850 was the highest credit score possible?

Its a closely guarded secret as to how the fico score is calculated. Most have an understanding and know exactly what affects it...but the exact math is a mystery (which makes sense considering an entire FICO software company relies on it.)

[JudyDunlow]

Yeah, I was under the impression that 850 was the highest as well. Either way, very well done!

[disneysteve]

I thought 850 was the highest credit score possible?

Yeah, I was under the impression that 850 was the highest as well.

The traditional FICO score, which is what most people mean when they say "credit score" only goes up to 850. But there are other scoring systems that use a different scale.

[Drake3287]

It was through Experian and I remember the finance guy telling my that they recently increased the scoring level to 900 points. He also said no one gets a 900. i just thought it was sort of weird how our two scores are different. Maybe females automatically get a higher score like auto insurance?

[phantom]

Maybe one of your creditors reported activity for one of you but not the other even though both were on the account. Maybe there's something on one report or the other that shouldn't be. Maybe on one of your joint accounts, one of you was primary and the other secondary, and maybe that matters. Maybe they are considering something uncontrollable like age or gender, like you said. I'm just guessing though.

I suspect you'd find your answer by comparing your two credit reports. I'd pull your credit reports from Experian (or ask the car finance guy for a copy of what he pulled) and compare, just out of curiosity.

[HappySaver]

The OP's post sounds very much like "how could the woman possibly have a higher credit score than the higher earning man" and thus is leaving a very sour taste in my mouth.

Salary is inconsequential to credit ratings. Your own score will fluctuate monthly. The difference between your scores is not enough to bat an eye.

[disneysteve]

I remember the finance guy telling my that they recently increased the scoring level to 900 points. He also said no one gets a 900.

The finance guy was an idiot - which doesn't surprise me a bit. As I said, there are multiple credit scoring models. They are using one that goes to 900, and if it goes to 900, that means it is possible to have a 900. Otherwise it would only go to 899 or whatever the maximum possible score is.

The OP's post sounds very much like "how could the woman possibly have a higher credit score than the higher earning man" and thus is leaving a very sour taste in my mouth.

Salary is inconsequential to credit ratings. Your own score will fluctuate monthly. The difference between your scores is not enough to bat an eye.

I would second the fact that income has nothing to do with your credit score. I would also second that scores fluctuate, not just monthly but even daily. Our Discover cards give us our FICO scores on our monthly statement and they are different every month (and different for each of us).

[Drake3287]

My post had nothing to do with my wife being "female". It was the fact that we've been married so long and with the same joint accounts so I expected the score to be the same. Nothing would make me happier than my wife making more money than me! It's certainly not a sexist question, stop thinking to deep into posts.

[HappySaver]

I apologize. Initial impressions aren't always the correct ones.

[btjones]

Can I just be the first to congratulate you on your ridiculously high credit scores! No one else seems to care, but I think it's an impressive feat.

[Drake3287]

Thanks!! About the only time I get any enjoyment out of having a high score is when I see the reaction from a dealership finance person.

[LuckyRobin]

There are some things that can affect your credit report like doctor's and hospital bills. One spouse would incur them and the other would not or would have different ones. For example if you were paying off the birth of a child over time, that would be reported on your wife's report as the one who incurred the expense, regardless of who was paying for it. That could make a difference. If a utility is in one person's name and not the other's regardless of who pays it, it will be on the report of the person named. If one of you buys something 90 days same as cash at Best Buy or something, that would not be joint, either. It would go on to the report of whoever bought it. Little things like that can make up those small differences.