youngandbroke wrote:
Actually, I was thinking more about this and I'm wondering if it's possible that my Walmart FICO score is lower because I have a high utilization on my Walmart card? Would that play a part in that score?
No more than any other card. Walmart is providing a FICO TU08 score. Myfico is providing a TU98 score. Most lenders use formulas based on TU04, but more lenders are using TU08. Very few lenders use TU98 scores and even less will use them in future. Generally speaking, TU08 is closer to TU04 than TU98. As such, I'd rather use TU08 scores as a guide over TU98 as to what my TU04 scores will be. However, depending on the differences, it may not be true. For example, FICO 8 scores discount any dings for small amounts. The lien for that $8 library fine or collection amount hardly budges your FICO 8 score down, but would count as heavily as any other collection amount/lien in FICO 04. So if I had high Fico 8 score but had small balance ding (collection/lien), I would expect my FICO 04 or FICO 98 score to be significantly lower. Or if I had a charge card from AMEX with high reported balances, I would discount the low score I got in TU98 as likely getting high utilization that FICO 04 and FICO 8 scores ignore.
Amex Plat, Amex BCP 8k->24k (5/23/12), Amex TE 15k, CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k (8/20/12), HSBC 15k, JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k
