Fico scores from site like myfico.com/creditsesame.com/credtikarma vs. credit plus fico score

[manolommaad]

Hello,

I have a question regarding the fico scores between the sites like myfico.com/creditsesame.com/credtikarma. I am purchasing a house and my lender pulled my credit on all 3 credit agency and the score difference between my credit report from Credit Plus is at least 35 to 40 points higher vs. myfico.com/creditsesame.com/credtikarma. I assume my credit plus credit FICO is accurate vs. myfico.com/creditsesame.com/credtikarma. Please shed some light. Thank you

[DaveSignal]

I've never heard of credit plus, unless you mean the proprietary Plus score developed by Experian.  AFAIK, lenders do not use this score.  The other websites are also not FICO scores, except for myfico.com. 

[mongstradamus]

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@manolommaad wrote:

Hello,

I have a question regarding the fico scores between the sites like myfico.com/creditsesame.com/credtikarma. I am purchasing a house and my lender pulled my credit on all 3 credit agency and the score difference between my credit report from Credit Plus is at least 35 to 40 points higher vs. myfico.com/creditsesame.com/credtikarma. I assume my credit plus credit FICO is accurate vs. myfico.com/creditsesame.com/credtikarma. Please shed some light. Thank you

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If you want score closest for mortgages , I think eq04 from equifax site probably would be your best bet. I think most mortage pulls use 04. 

[IamB2]

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@manolommaad wrote:

Hello,

I have a question regarding the fico scores between the sites like myfico.com/creditsesame.com/credtikarma. I am purchasing a house and my lender pulled my credit on all 3 credit agency and the score difference between my credit report from Credit Plus is at least 35 to 40 points higher vs. myfico.com/creditsesame.com/credtikarma. I assume my credit plus credit FICO is accurate vs. myfico.com/creditsesame.com/credtikarma. Please shed some light. Thank you

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Hi there,

Credit scores are just numbers derived from the data on your credit report. The scores are different depending on which algorithm is used (and then different still depending on which version of the algorithm used).

FICO is just one of the models - albeit the one that is used (by some estimations) by 90% of lenders. MyFico.com uses the FICO model. So those are the scores likely used by your lender (although myfico uses the FICO 08 version of the algorthim while for mortgage purposes, FICO 04 is used mostly).

CreditKarma, Credit Sesame and Credit Plus are all separate models. For example, CreditKarma uses the TransUnion Risk score model. It is an OK model, but it is not proven to be a good predictor of risk yet - making this model useless in terms of determining if you would qualify for credit. Same can be said for others, although the Experian Plus model seems to be (at least in my experience) very close to my scores derived from the FICO algorithm.

So your assumption that Credit Plus is accurate is not true. Unless their score strictly states it is a FICO score.

Hope that makes sense.

[manolommaad]

When my lender pulled my credit, it says Credit Plus on the hard inquiry as well as on the credit report they sent me. 

[manolommaad]

I have asked the Lender if the fico score on credit plus is my actual fico score based on the 3 credit bureaus and they siad yes. This is so confusion, I have started cleaning up our credit 7 months ago and my score was less than 600. Now, the credit plus report says 672 for EXP, 683 for TU and 663 for EQ and myfico and CK has my score at low 620. 

Do I need to pull my credit myself from Myfico to see my actual FICO scores? 

I am stil working hard to cleanup my credit, still have 1 satisfied judgment (Filed motion to vacate and I have a hearing next month) and a chapter 13 scheduled to fall October 2014, settled and paid charge off (from Wells Fargo dealersip - not sure how to get the charge off deleted) and a couple of collections. 

I have 4 CC (2 secured and 2 non secured) and a car loan, closed on a mortgage a couple of months ago and  been paying them off on time every month and hopefully by the end of the year, my FICO can go over 700.

Thank you for all your help.

[DaveSignal]

Whatever the inquiry is labeled as is not relevant to the score that your lender is using.  If the lender has told you that they are pulling a FICO and this is the score they are using to approve your loan, then you don't need to worry about any of the other scores.... only those FICOs from your lenders "credit plus" report.  They are probably 04 models as has been mentioned, which may not be exactly the same as the scores pulled from myfico.com.