General Credit Topics

[bettercredit]

My husband's fico score is different from his credit bureaus reported scores. The fico score is actually lower than all 3 bureaus. Is this correct? is the fico score and credit score different?

Iiii yi yi kurumba...this credit repair stuff is a nightmare at the least...but I'm not sleeping through it.

[MidnightVoice]

Have you read this?

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[Boswd]

yes there are different.   The  Experian and TransUnion use there own formulas.   While Equifax uses the FICO  formula.   The way it stands right now,  over 90% of lenders use the FICO system, so those are the scores you should be worried about.     Don't worry about the  Experians and TransUnion separate scores  unless something changes in the near future you should only concentrate on   FICO'S scores.

[ilovepizza]

For example too. If you pulled an Equifax report and score on Monday, and a MyFico score on Friday, they are the same model, but things change on credit reports all the time, score could be different weekly.

[bettercredit]

I understand you all replies but am still confused because he signed up for "myfico" on MOnday and today he received an updated credit report with all 3 agencies from Tranunuion (true credit) and his myfico score is lower than his Equifax reporting score. is this correct also?

[MidnightVoice]

MyFICO is a real FICO.  All 3 CRAs have slightly different FICO scores for an individual

Truecredit score are not accurate - they are fake

Most lenders use some combination of the 3 real FICO scores

[bettercredit]

Are you serious? TrueCredit scores are FAKE?!?!

Even if they're reporting from all 3 credit bureaus?

How do you know?

Who should I use to access my credit report/scores? Just myfico?

That's scary if the scores really are fake...

[MidnightVoice]

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bettercredit wrote:

Are you serious? TrueCredit scores are FAKE?!?!

Even if they're reporting from all 3 credit bureaus?

How do you know?

Who should I use to access my credit report/scores? Just myfico?

That's scary if the scores really are fake...

---

see this for more

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

and this

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=676

[Boswd]

bettercredit wrote:

Are you serious? TrueCredit scores are FAKE?!?!

Even if they're reporting from all 3 credit bureaus?

How do you know?

Who should I use to access my credit report/scores? Just myfico?

That's scary if the scores really are fake...

This is it in a nutshell.   The scores your receive from MYFIco for all three of your reports are the ones most lenders look.  FICO will have a score for Experian,  Equifax and TransUnion.

On Experian's webiste FreeCreditreport.com  they use their own scoring model called The Plus score.

TransUnion on their webiste  TrueCredit.com uses their own scoring model called Vantage Score.

The score you receive for all three of the CRA on MyFico are the ones you should be concerned about.

[daytona18]

I just want to make sure I understand. When a lender uses the middle score, the score he will pull for TU is the one that I can see as my TU score on Truecredit?  The score he will see from EQ is the one I will see on myfico?  If you purchase all three scores through myfico, will they all be correct?