WAMU credit score

[Anonymous]

I have had wamu for about 18 months. I have viewed my scores and never thought much of them until I started the myfico score watch. Has anyone else noticed the difference in scores range from 30-40 points. Why is this?

[Anonymous]

Do you mean the PFICO goes up and down in 30 to 40 point swings? or it differs from you score here st myFICO 30 to 40 points?

I know the PFICO is very sensitive to inquries, new accounts and utilization- mine went up 30+ points this month

my UTL is not down much from 30 days ago (what is being reported) and my lates are hitting 2 years old soon. Still does not explain 30 points.   

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ihatefico wrote:

I have had wamu for about 18 months. I have viewed my scores and never thought much of them until I started the myfico score watch. Has anyone else noticed the difference in scores range from 30-40 points. Why is this?

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[jmbfl]

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jmbfl wrote:

For everyone's reference:

PFICO reported today (as of 01SEP08) = 680 [+16]

TU FICO (as of 15SEP08, from transunioncs) = 714

My further comment is that my chart is messed up for the last two months. Am I the only one?

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I think he means like this...

[Anonymous]

3 THINGS-

1. The PFICO is up to a month behind

2. PFICO places more weight on CC's.

3. PFICO is more sensitive to new accounts, INQ's and utilization than the classic FICO.

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jmbfl wrote:

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jmbfl wrote:

For everyone's reference:

PFICO reported today (as of 01SEP08) = 680 [+16]

TU FICO (as of 15SEP08, from transunioncs) = 714

My further comment is that my chart is messed up for the last two months. Am I the only one?

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I think he means like this...

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[GFer]

Thanks for the info, Timothy!

[Anonymous]

my scores differ 30-40 points from the my fico version. Mostly, the pfico are higher. For the last two months they have gone up nearlly 30 pts each time. I would love it if it were true, but I doubt it. I also agree that mine have been odd for august and september.

[TangMeister]

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@Anonymous wrote:

my scores differ 30-40 points from the my fico version. Mostly, the pfico are higher. For the last two months they have gone up nearlly 30 pts each time. I would love it if it were true, but I doubt it. I also agree that mine have been odd for august and september.

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Very nice increase on your PFico score. Well, as you know, it is a credit card account weighted FICO score, so it actually does carry some weight with the CC industry, so you should do the little happy dance. It's not like it's a FAKO from TC.

[jmbfl]

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Timothy wrote:

3 THINGS-

1. The PFICO is up to a month behind

2. PFICO places more weight on CC's.

3. PFICO is more sensitive to new accounts, INQ's and utilization than the classic FICO.

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I my case the difference is mainly due to new accounts and I know that. The slug for new accounts is pretty severe, but the recovery is pretty quick (six months or so).

[Anonymous]

They are indeed different scoring formulas. While many if not most of the scoring is similar they definitely have strong personality differences with specific actions.

Example on my credit bucket/profile.
FICO rewards me for large lump sum UTL PIF.
PFICO dings me for large lump sum UTL PIF.

I'm glad I learned this because that's when I get hit with CLDs. It makes sense now if my score was tanking after that. I use both FICO and PFICO scores to stay out of the radar of my lenders fearful eye. If PFICO drops too much I slow what I am doing down. There are many other differences too like how installments are scored in.

Sometimes my PFICO is higher and sometimes lower. The biggest change was around -70 at one point. Now my 2 scores are about equal. My FICO is pretty steady but my PFICO is up and down all the time.

[wmarat]

Intresting. when Chase buys WAMU what it is going to do with free PFICO?