Confused about scores

[johnwantsahouse]

Ive been buying my reports/scores on here. I got a score watch alert the other day that I'm at 602. I got another today about a remarks change saying I'm still at 602. I applied for home depot and when I called in, the guy told me my FICO score is a 535 with equifax. I asked him if he was sure cause I buy from myfico and he says those are really fako and they pull FICO and mine is 535. I bought a new FICO right after to confirm and it's showing 601. Are these real FICO?

[laz98]

Yes, these are real FICO scores.

[llecs]

It could be that HD/Citi is using a CC-enhanced FICO.

[Hortilux]

Ya pretty much every score is a fake, just an general indication of where your at. There are like 10 different ficos it seems.

[RobertEG]

FICO licenses literally dozens of different scoring algorithms, based on the needs/requests of its customers.

Each CRA has its own customized version, as do various industry-specific markets, such as auto loans, insurance underwriting, mortage, medical, etc.

Their are various version updates that some creditors choose to use, and others dont.

Each of those, in turn, has its own internal variations due to different characteristics of the consumer credit file that it is being applied to ("rebucketing").

[Anonymous]

Could be they also use their own internal algorithm, not unheard of. But, you are entitled to a copy of the report - I'd check it out to see why they dinged you.

[Crashem]

You see more consistency with regards to fico scoring in mortgage industry as loans are mostly packaged up and sold. As such a standard approach is needed judge all loans. Hence fico themselves are having problems getting fico 8 models getting adopted in mortgage industry. Eq fico score sold here will be most consistent with what you would see from mortgage lender pulling eq. CC companies have all sorts of internal variations of fico as they typically own the debt themselves.