Reply
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Equifax scoring vs myfico

What is the point of getting myfico instead of Equifax? It is the same score, so I don't understand. With Equifax you can update your score everyday.
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Equifax scoring vs myfico

Equifax will give you FICO scores but also give you a non-FICO score.  Make sure you are getting one of their products that provides a FICO score.  I haven't looked at them in a while, so maybe you have already checked that.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Re: Equifax scoring vs myfico

Thank you I didn't know that. I guess I will call them and ask them what exactly I'm paying for.
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Equifax scoring vs myfico

[ Edited ]

What's the name of the product?

 

ETA: http://www.equifax.com/all-products/  Look at the bottom.  You'll see the ones that give you a FICO score.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Re: Equifax scoring vs myfico

I am not sure I can check. I know I pay 16.95 a month, they give me credit alerts and updates of my credit score. I will check the name of it.
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Equifax scoring vs myfico

See edit above.  If you can refresh the score every day, I doubt it's a FICO score.  It's probably their Equifax Credit Score, which is a FAKO.  See the fine print below the products on this page:

 

http://www.equifax.com/compare-products/

 

"Unless otherwise noted, any credit score provided as part of the products described herein makes use of the Equifax Credit Score. Click here to view products that feature the FICO® Score"


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Re: Equifax scoring vs myfico

Its the complete Equifax advantage score.
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Re: Equifax scoring vs myfico

Can I ask them to change that? I just got a discover card and they sent me my FICO score with it. The FICO score was higher then the Equifax.
Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: Equifax scoring vs myfico

Not a FICO score.  Use it for the reports but ignore the score and ignore the advice that comes with it about how to improve your score.

 

For a credit monitoring service, it's not bad, but there are probably some cheaper options.  I like eliminateidtheft.com.  It allows daily pulls for all three reports.  I signed up for the plan for $180 per year by paying it all at once and it allows for my wife to pull as well. So basically $15/month for both me and my wife to pull all three every day.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
New Member
SH1117
Posts: 9
Registered: ‎01-27-2012
0

Re: Equifax scoring vs myfico

Oh, that's great advice thank you.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}