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Tinka2007
Posts: 6
Registered: ‎04-28-2007
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FICO vs. PLUS Score...

Can someone explain to me the difference between the FICO and Plus Score???  I've been tracking my FICO and recently viewed my Equifax score using the free credit report website.  It's so confusing, and I'm not sure which one is more accurate.  Ugh!
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smallfry
Posts: 4,831
Registered: ‎04-20-2007
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Re: FICO vs. PLUS Score...



Tinka2007 wrote:
Can someone explain to me the difference between the FICO and Plus Score??? I've been tracking my FICO and recently viewed my Equifax score using the free credit report website. It's so confusing, and I'm not sure which one is more accurate. Ugh!



The only scores that matter at this time are your FICO scores. If you see the FICO medallion it is a true FICO score. Nothing else matters.
Regular Contributor
MM1234
Posts: 165
Registered: ‎03-18-2007
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Re: FICO vs. PLUS Score...

smallfry said it best !!!
New Member
Tinka2007
Posts: 6
Registered: ‎04-28-2007
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Re: FICO vs. PLUS Score...

Thanks smallfry!  I'm trying to raise it asap, trying to purchase a house soon. When mortgage companies pull the credit reports are they looking at the FICO scores or is there another score I'm not aware of? I was told that for an interest-only loan the score should be at least 620.
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fused
Posts: 16,374
Registered: ‎03-12-2007
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Re: FICO vs. PLUS Score...



Tinka2007 wrote:
Thanks smallfry!  I'm trying to raise it asap, trying to purchase a house soon. When mortgage companies pull the credit reports are they looking at the FICO scores or is there another score I'm not aware of? I was told that for an interest-only loan the score should be at least 620.


Only concern yourself with FICO scores.  What are your other two scores?  Do you the know the baddies on your reports?  Many here can help you repair your credit (legally of course), resulting in higher scores and better mortgage rates.
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: FICO vs. PLUS Score...



Tinka2007 wrote:
I've been tracking my FICO and recently viewed my Equifax score using the free credit report website.
...
I'm trying to raise it asap, trying to purchase a house soon.
...
I was told that for an interest-only loan the score should be at least 620.


You'll want to take a look at all 3 CRAs, at least the CRs if not the scores.
 
What's your CC util? That's a way you control that you can raise your scores.
 
With subprime lending collapse, talk to a mortgage broker but understand things seem to change frequently. Minimum score this week might be higher next week.
New Member
Tinka2007
Posts: 6
Registered: ‎04-28-2007
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Re: FICO vs. PLUS Score...

One said 644, and my FICO says 600.  It seems like a big difference to me, but all still confusing. When I pulled my FICO it said 600 but about 2 wks before that the mtg agent said it was around the 580's mark.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: FICO vs. PLUS Score...

New Member
Tinka2007
Posts: 6
Registered: ‎04-28-2007
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Re: FICO vs. PLUS Score...

I'm sorry one credit site said 644, and FICO says 600, and the broker said I was around the 580's mark.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: FICO vs. PLUS Score...



Tinka2007 wrote:
I'm sorry one credit site said 644, and FICO says 600, and the broker said I was around the 580's mark.


Broker is likely using one of the various scoring methods that many industries use. You can use your FICO score as a "target finder". Get your FICOs to 640, then the broker should be around 620.
 
If the 644 came from one of the CRAs, freecreditreport.com, etc. then it's a Vantage score or FAKO.
 

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