Equifax Score Power

[Anonymous]

According to a bunch of the posts i have read on here the equifax score power fico is the one used for most mortgage pulls. They also show having a fico monitoring that you can buy for $14.95. My question is does that monitor the same fico as the score power or is it the 08 like my fico uses? I plan on buying a house in the next year so i pretty much only care about having some sort of idea what score will get pulled if i go to apply for a mortgage. I would rather pay $14.95 a month to monitor that score then 3 ficos that mean nothing when i go to apply. If anyone has that package from equifax I'd like to know which score version they monitor. Thanks!!!

[pizzadude]

As far as I know the only FICO score the EQ website sells to consumers is the FICO04 model.

[Anonymous]

Thanks. It seems like all the CB's like to keep the scores that really matter a secret so i wasnt sure if the monthly monitoring one was the same since it was cheaper than pulling the one time score.

[ddemari]

I have done a lot of research into the EQ fico powerscore. I signed up for an EQ premiere plan a while back and then went to cancel a littlle while later and they offered me a 7.99 a month deal. So I have purchased my powerscore a few times because it gives me a completely different credit profile. I have read that it is the FICO 04 score and only mortgage lenders use it. I have asked EQ via a chat about it and they told me all they know is that yes, it is a fico score and could tell me nothing else. 

My EQ fico through myfico is good but powerscore its EXCELLENT, I have nearly 60 point higher powerscore than myfico score. I can say though, I have never been approved for a credit card using that score. Even if approved and I receive my credit score with the card, it is always 08 version. 

I wish CC's would use it or use it for account review cause its qualify for anything. 

[pizzadude]

The FICO04 score model is used by mortgage lenders, however it is also used by many other creditors as well ( CCs, auto, etc.. )

[ddemari]

Do you know of anyone recently getting approved for a cc with the 04 model from the community? if so, I have heard US bank but that's it.

[Anonymous]

I ordered mine from equifax last night and unfortunately i was like a lot of people on here in that it was lower then the myfico score. Only by 27 points but that was enough to take my out of the 700's. I dont have any bad info on my report. No late payments or anything but it says my utilization is too high at 20%. When this months payments post i should only have one card showing over 30% though so i think that might help. It will be somewhere in the neighborhood of 35%. I'll just keep plugging away until i get below 10%. I just wish i was able to check all 3 fico's that a mortgage lender would pull just to see what my middle is. hopefully the equifax is the low one.

[JLK93]

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@ddemari wrote:

Do you know of anyone recently getting approved for a cc with the 04 model from the community? if so, I have heard US bank but that's it.

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Most credit unions still use 04. I'm not even aware of a credit union that uses 08, however, there might be some that do.

Most major lenders pretty much use 08 for everything except mortgages.

[physicist82]

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@Anonymous wrote:

According to a bunch of the posts i have read on here the equifax score power fico is the one used for most mortgage pulls. They also show having a fico monitoring that you can buy for $14.95. My question is does that monitor the same fico as the score power or is it the 08 like my fico uses? I plan on buying a house in the next year so i pretty much only care about having some sort of idea what score will get pulled if i go to apply for a mortgage. I would rather pay $14.95 a month to monitor that score then 3 ficos that mean nothing when i go to apply. If anyone has that package from equifax I'd like to know which score version they monitor. Thanks!!!

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We did this in July when we were preparing for the final stretches of buying our house. We signed up for the monthly monitoring with 4 free FICO score power credit scores that could be used within 1 year. It was 14.95/mon

If that is the monitoring that you are talking about then yes they are the 04 model scores used for mortgages. We only kept the monitoring for a month and we were waiting for some collections to get removed that we disputed and paid a bunch of stuff off so we used all 4 of ours that month. One each week. If you plan on using the monitoring for a while it would be better to pull them once a quarter or something like that. 

Be careful though because I believe that they have a monitoring package that gives you their own fako score that they create instead of the FICO scores. It's not even the 08 score, its their own formula. You don't want to get that one if your goal is mortgage watching.