05-12-2013 05:12 PM
Today I pulled myfico and my eq score is at 636. I went with my hubby to buy a car and the salesman told me my eq score is at 590. WOW! That is a 46 point difference. I thought myfico is authentic. Please help because I am so discouraged. I have been working on my credit for a minute and I actually thought I was doing something.
05-12-2013 05:18 PM
Welcome to myFICO forums!
It is true that auto dealers pull an "Auto Enhanced" FICO. You can find more information on that here.
In the meantime, I recommend that you join a credit union such as Digital Credit Union, or even a local credit union.
Credit unions are more likely to rely on a straight FICO instead of an Auto Enhanced Fico when determining approval.
Best of Luck!
05-14-2013 09:46 PM
There are so many versions of FICO that unless the lender uses this version, they will never be the same score. What does this mean? There really is no point in buying your FICO lol. Just use some low cost CMS and gauge your progress that way. I use mycreditinform that comes with cap one secured card. The score has steadily rose up as my credit goes better. I know the score isn't even FICO. But what's the difference if lenders doesn't even use the version provided on this site?
05-15-2013 06:43 PM
Thank you Webhopper, I appreciate the info it calmed me. I was upset because I thought my work was in vain. I will check into the CU.
Samsung, myfico has been somewhat accurate when I have used it outside of the auto industry. I guess it can be a toss up sometimes.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO