Credit Cards

[ctb89]

TU08 is very similar to TU04 and is far more widely used than most people realize. Also, Walmart doesn't underwrite their credit. GE does.

[MarineVietVet]

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ctb89 wrote:
TU08 is very similar to TU04 and is far more widely used than most people realize. Also, Walmart doesn't underwrite their credit. GE does.

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Do you know of any specific lenders who use TU08? I know that Discover uses a credit card enhanced version of TU08 but I know of no lenders who use the classic TU08.

I would be glad to know for future reference and use.

[ctb89]

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MarineVietVet wrote:

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ctb89 wrote:
TU08 is very similar to TU04 and is far more widely used than most people realize. Also, Walmart doesn't underwrite their credit. GE does.

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Do you know of any specific lenders who use TU08? I know that Discover uses a credit card enhanced version of TU08 but I know of no lenders who use the classic TU08.

I would be glad to know for future reference and use.

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Citi has adopted TU08 and much of the auto industry uses auto-enhanced FICO 8. It has also been suggested that Amex uses whatever the EX equivalent is.

[ctb89]

Also, maybe I should have said it is more widely used than people here tend to suggest (IMO). TU04 is the most widely used but reading these boards you'd think TU08 isn't used at all. Being able to access your TU08 can be very valuable.

[MarineVietVet]

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ctb89 wrote:

 

Citi has adopted TU08 and much of the auto industry uses auto-enhanced FICO 8. It has also been suggested that Amex uses whatever the EX equivalent is.

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Do you have a source for all this? I'm not saying you're wrong but I don't recall anyone here (but I could very well be 100% incorrect about that) confirming that Citi used TU08 to make a credit decision.

I ask because if I begin to give out this information I want to make sure it is as reliable as possible.

[perfectuniverse1]

ok so just to clarify... what score did i buy here last week for 19.95, which one does walmart provide and if a creditor pulls TU which one are they more likely to get?  im trying to decide whether or not i want to take a HP for the walmart card

[Crashem]

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ctb89 wrote:
TU08 is very similar to TU04 and is far more widely used than most people realize. Also, Walmart doesn't underwrite their credit. GE does.

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And GE uses what ( wasn't that kind of a petty point?)? Tu04 if they use tu. It will be long time before we see mortgage lenders use anything by xx04. Too many structural reasons. No one is saying that xx08 is worthless. Just don't use it as the reference. It isn't in common use and there can be significant differences between xx04 vs xx08 scores. But since I can't get tu04 scores easily, would I rather use tu08 or tu98 for reference? Obviously tu08. Less differences to tu04 compared to tu98

[Crashem]

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MarineVietVet wrote:

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ctb89 wrote:

 

Citi has adopted TU08 and much of the auto industry uses auto-enhanced FICO 8. It has also been suggested that Amex uses whatever the EX equivalent is.

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Do you have a source for all this? I'm not saying you're wrong but I don't recall anyone here (but I could very well be 100% incorrect about that) confirming that Citi used TU08 to make a credit decision.

I ask because if I begin to give out this information I want to make sure it is as reliable as possible.

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I know bofa and Citibank announced at some point that they would start using fico 08 scoring models, but I haven't really seen it in real life. Real difference between what is announced and what is used.

[boonelb]

scores are out

[pizzadude]

Just to add to the mix......I used to think that TU98 was obselete as well, but it is actually still used by many lenders.   Navy Federal pulled a TU98 score 3 months ago when I applied with them, so there are still some creditors that use it.