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Valued Contributor
Crashem
Posts: 3,098
Registered: ‎01-26-2012

Re: Walmart FICO


perfectuniverse1 wrote:

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


If ou bought the tu score, you bought tu98. The most accurate score you can buy is the equifax score from here. Of course if there are differences in credit reports, there will be differences in score. Even if the same, you can see 20 point differences in score between bureaus.
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Regular Contributor
honky
Posts: 156
Registered: ‎01-28-2012

Re: Walmart FICO

Yep, it has now been updated on Walmart's site.  I hate when it updates...my TU is so much lower than the others and I can't get that BCP :smileysad:

 

Starting Score: 580 2/03/12
Current Score: 786 EQ // 814 TU(Walmart)
Goal Score: Achieved!

Wallet: Citi Forward(12k), Ink plus(18k), CSP(10.5k), Freedom(5k), BoA123(8.5k), Alliant CU(5k), Walmart(2k), Kohls(1.4k), QuickSIlver(7.5k)
Frequent Contributor
ctb89
Posts: 419
Registered: ‎03-05-2012

Re: Walmart FICO

[ Edited ]

Crashem wrote:

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.
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
GE uses an internal, proprietary model (although they many times provide a FICO with approvals/denials). Look for Citi approvals on the 250-900 range, that's a bankcard enhanced FICO 8. So yes, they are using it. And given that this is the "Credit Cards" subforum, I could care less what mortgage lenders use.
Frequent Contributor
ctb89
Posts: 419
Registered: ‎03-05-2012

Re: Walmart FICO

Mods, edit my posts. Jesus just not worth it. This is why people think TU08 is only marginally better than a FAKO.
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012

Re: Walmart FICO


ctb89 wrote:
Mods, edit my posts. Jesus just not worth it. This is why people think TU08 is only marginally better than a FAKO.

I personally feel that TU98 is only marginally better than a FAKO, and I will not pay for that score.

 

Why pay for TU98 here (rarely used) when the TU08 (that may also be rarely used) is at least as equally valid and FREE

 


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Moderator
Revelate
Posts: 6,767
Registered: ‎12-30-2011

Re: Walmart FICO

[ Edited ]

TNTransplant wrote:

ctb89 wrote:
Mods, edit my posts. Jesus just not worth it. This is why people think TU08 is only marginally better than a FAKO.

I personally feel that TU98 is only marginally better than a FAKO, and I will not pay for that score.

 

Why pay for TU98 here (rarely used) when the TU08 (that may also be rarely used) is at least as equally valid and FREE

 


Dude, you've been a consistent reader/poster here for the past several months, haven't you seen how people run screaming from an inquiry? :smileyhappy:  I think some or even most would happily avoid that by paying another ~$200/yr for their equivalent Scorewatch product for TU here if they wanted some semblance of a relevant score from TU.

 

I may just wind up tossing an application at Walmart for the score alone when I try for my Zync / USAA approvals in December (might as well hit the trifecta of bureaus!) but it'd only be for the extra, and marginal I might add, data point of any '08 FICO score.

 

 


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 672, Wally TU 686, EX 702 (04/14)
Goal Score: 700 in all three (01/01/15)


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Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: Walmart FICO


pizzadude wrote:

 

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.


+1  And that's why I still fork out money for the TU score here even though I get the free one from Walmart.  Navy does still pull TU 98, at least they did for my auto refi and opening of my savings account.  The credit disclosures didn't say what version it was BUT it did match my score from THIS site.  I do believe I read in the mortgage boards NFCU uses TU04 for mortgage though.  Anytime I can get a FICO, I will.  I'd rather know the complete range of my FICO's than any FAKO.  I then at least have a general idea of where I stand.  If my TU98 FICO drops, more than likely the other version will do the same.  A FICO score change is informative, no matter the version, you either did something right or something wrong. 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
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Moderator
Revelate
Posts: 6,767
Registered: ‎12-30-2011

Re: Walmart FICO

KJM: Mortgage is currently FICO '04 versions from every bureau, all the time.

 

Until Fannie / Freddie change the scores they wish to use, everyone else (except possibly jumbo lending) will continue to use the same model... otherwise the GSE's can and almost certainly will reject the loan from the originating lender.

 

 


Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 672, Wally TU 686, EX 702 (04/14)
Goal Score: 700 in all three (01/01/15)


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Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008

Re: Walmart FICO


Revelate wrote:

KJM: Mortgage is currently FICO '04 versions from every bureau, all the time.

 

 


Right.  I stated NFCU pulled TU 98 for my auto refi and account opening and uses TU 04 for mortgages.  The fact they use TU 98 for some of their credit approvals is why I will still purchase it.  Now, I don't pruchase it nearly as frequently as I used to.  But If I want to app for something and I know they pull TU, I'll check TU here and WalMart's TU.  I am the type of person that would rather have all available information as opposed to part of the information.  So until TU 04 is made available to the public I will get any FICO I can get my hands on, inlcuding TU 98.


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
Take the FICO Fitness Challenge
Valued Contributor
Repo-ed
Posts: 2,949
Registered: ‎02-09-2012

Re: Walmart FICO

I guess for only $4.95/mo, really no point in killing my sub for TU score x4/yr.


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