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Contributor
jwduke
Posts: 117
Registered: ‎01-14-2012
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Credit Scores

Of the "free" credit scores, which is the closest to being right? I use Quizzle, CreditKarma, myFICO, Walmart, Creditsesame, USAA, & Credit.com My score ranges from 688 at Creditkarma to 786 at Quizzle. I use the number from Walmart & my FICO as they are (Seem to be) right at 740....



Starting Score: 675
Current Score: FICO- 772 (09/20/14)
Goal Score: 780+ All Three




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Valued Contributor
trumpet-205
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Credit Scores

[ Edited ]

There is no right credit score, since each models calculates your score differently (and each lender using their choice of model). Even for FICO there are a lot of variations. Scores that currently are being used out there are,

 

 

* FICO from myFICO

* Walmart FICO

* VantageScore and Insurance score from CreditKarma

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Contributor
lithium78
Posts: 930
Registered: ‎07-30-2011
0

Re: Credit Scores

Don't even bother with Credit Karma.  They aren't even close to being right.  Their score is about a hundred points off from my FICO score and it hasn't changed in about a year, despite massive changes in my credit situation.  They aren't even worth what you pay for it and it's free.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

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Moderator Emeritus
tinuviel
Posts: 4,875
Registered: ‎11-02-2010
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Re: Credit Scores


lithium78 wrote:

Don't even bother with Credit Karma.  They aren't even close to being right.  Their score is about a hundred points off from my FICO score and it hasn't changed in about a year, despite massive changes in my credit situation.  They aren't even worth what you pay for it and it's free.


 

I agree regarding CK's own proprietary score. But, they also give you a free Vantage score. Again, Vantage is a  completely different scoring model, but it has tracked up or down fairly well with my FICO scores. If nothing else, you can use CK for free to see if there are any changes to your report throughout the month, so it's not bad for free credit monitoring.

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Established Contributor
lithium78
Posts: 930
Registered: ‎07-30-2011
0

Re: Credit Scores


tinuviel wrote:

lithium78 wrote:

Don't even bother with Credit Karma.  They aren't even close to being right.  Their score is about a hundred points off from my FICO score and it hasn't changed in about a year, despite massive changes in my credit situation.  They aren't even worth what you pay for it and it's free.


 

I agree regarding CK's own proprietary score. But, they also give you a free Vantage score. Again, Vantage is a  completely different scoring model, but it has tracked up or down fairly well with my FICO scores. If nothing else, you can use CK for free to see if there are any changes to your report throughout the month, so it's not bad for free credit monitoring.

 


You must be having a different experience with CK than me because their Vantage score isn't even close to tracking my credit situation at all.  Nothing ever changes and they don't report changes in my accounts accurately.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Moderator Emeritus
tinuviel
Posts: 4,875
Registered: ‎11-02-2010
0

Re: Credit Scores


lithium78 wrote:

tinuviel wrote:

lithium78 wrote:

Don't even bother with Credit Karma.  They aren't even close to being right.  Their score is about a hundred points off from my FICO score and it hasn't changed in about a year, despite massive changes in my credit situation.  They aren't even worth what you pay for it and it's free.


 

I agree regarding CK's own proprietary score. But, they also give you a free Vantage score. Again, Vantage is a  completely different scoring model, but it has tracked up or down fairly well with my FICO scores. If nothing else, you can use CK for free to see if there are any changes to your report throughout the month, so it's not bad for free credit monitoring.

 


You must be having a different experience with CK than me because their Vantage score isn't even close to tracking my credit situation at all.  Nothing ever changes and they don't report changes in my accounts accurately.


 

Definitely a YMMV situation, I suppose. When I went on my app spree last August, CK informed me almost immediately that an inq from Discover had hit my TU report, and it let me know when the new account appeared. When accounts report through the month, I can see my updated balances. It's worked well for me. I'm sorry to hear that this is not happening accurately for you. Have you called and inquired about why this is?


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012
0

Re: Credit Scores

My CreditKarma's Vantage score is always the same as Wal-Mart TU08 score, when it updates.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Credit Scores

Credit Sesame is the closest thing to a EX Fico 04 with a clean report,

 

MyFico or Equifax scorewatch is your actual Fico04 which is used by 95% + of potential lenders for mortgages, credit cards on the other hand are based off propietary scoring and have a lot of different things into consideration half of the time, but good Fico 04 scores will be good.

 

Transunion MyFico uses TU98 which is only believed to still be used for Barclay cards, and TU08 for GECRB for your free FICO scores. If you take a median between FICO 08 and FICO 98 seems to be pretty close to a 04 scoring in my experience with scoring.

 

 

Remember that Fico 04 is the majority of lenders, only way to get these scores across the board is a mortgage pull that I know of, It's not required to know your scores 100% of the times, just keep doing what your doing and don't make too many mistakes along the way, if you have a clean report scores shouldn't really matter cause you should be atleast 720+ with 1 year of good history.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Moderator
09Lexie
Posts: 26,608
Registered: ‎09-13-2012
0

Re: Credit Scores

[ Edited ]

tinuviel wrote:

lithium78 wrote:

tinuviel wrote:

lithium78 wrote:

Don't even bother with Credit Karma.  They aren't even close to being right.  Their score is about a hundred points off from my FICO score and it hasn't changed in about a year, despite massive changes in my credit situation.  They aren't even worth what you pay for it and it's free.


 

I agree regarding CK's own proprietary score. But, they also give you a free Vantage score. Again, Vantage is a  completely different scoring model, but it has tracked up or down fairly well with my FICO scores. If nothing else, you can use CK for free to see if there are any changes to your report throughout the month, so it's not bad for free credit monitoring.

 


You must be having a different experience with CK than me because their Vantage score isn't even close to tracking my credit situation at all.  Nothing ever changes and they don't report changes in my accounts accurately.


 

Definitely a YMMV situation, I suppose. When I went on my app spree last August, CK informed me almost immediately that an inq from Discover had hit my TU report, and it let me know when the new account appeared. When accounts report through the month, I can see my updated balances. It's worked well for me. I'm sorry to hear that this is not happening accurately for you. Have you called and inquired about why this is?


I agree as to using CK for inq, bal and new accounts that hit my TU report.  As far as my score on CK, it is way off and I assume it is because my paid mortgage is not reporting on TU.  My Vantage score is similar to Quizzle...if that matters.

Valued Contributor
trumpet-205
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Credit Scores

[ Edited ]

lithium78 wrote:

You must be having a different experience with CK than me because their Vantage score isn't even close to tracking my credit situation at all.  Nothing ever changes and they don't report changes in my accounts accurately.


Chase uses VantageScore and Insurance score offered by CK is used by your insurance company as a variable to calculate your rate (unless the state you live in prohibits such practice, like CA).

 

FICO score is not everything. There are lenders that use VantageScore. There are lenders that develop and use their own credit score. Your FICO score is not an absolute score.

 

There are 49 FICO scoring models out there right now. How do you know the one you bought from myFICO is the one that lender is using?

 

http://www.creditsesame.com/blog/scores-scores-and-more-scores-how-many-fico-credit-scores-do-you-ha...

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)

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