General Credit Topics

[discernment]

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llecs wrote:

To confuse things, there is also TU08 out there (same as on Wal-Mart's free FICO service). TU08 was created in 2008-2009. TU08 is newer than TU04. Would this make TU04 outdated? Chronologically speaking, yes, but nobody uses TU08. Is TU08 outdated instead?

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I did not know that NO ONE uses the FICO® that Wal-Mart gives out for free.  

[llecs]

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discernment wrote:

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llecs wrote:

To confuse things, there is also TU08 out there (same as on Wal-Mart's free FICO service). TU08 was created in 2008-2009. TU08 is newer than TU04. Would this make TU04 outdated? Chronologically speaking, yes, but nobody uses TU08. Is TU08 outdated instead?

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I did not know that NO ONE uses the FICO® that Wal-Mart gives out for free.  

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Maybe there's one lender out there somewhere. I base my statement on comments from others on here when they post their app results for a mortgage or apps for other credit. I don't believe there ever has been a post in here of someone saying their lender pulled TU08. It's always TU04 (or industry-enhenced for other types of loans). In other words, I don't see anyone using FICO08 versions at all. Even GECRB for Wal-Mart doesn't even use TU08, they use their own score.

[daboss28]

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llecs wrote:

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Maybe there's one lender out there somewhere. I base my statement on comments from others on here when they post their app results for a mortgage or apps for other credit. I don't believe there ever has been a post in here of someone saying their lender pulled TU08. It's always TU04 (or industry-enhenced for other types of loans). In other words, I don't see anyone using FICO08 versions at all. Even GECRB for Wal-Mart doesn't even use TU08, they use their own score.

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I believe the discover equifax is the fico 08 version other than that nothing i know for sure

[Revelate]

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llecs wrote:

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discernment wrote:

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llecs wrote:

To confuse things, there is also TU08 out there (same as on Wal-Mart's free FICO service). TU08 was created in 2008-2009. TU08 is newer than TU04. Would this make TU04 outdated? Chronologically speaking, yes, but nobody uses TU08. Is TU08 outdated instead?

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I did not know that NO ONE uses the FICO® that Wal-Mart gives out for free.  

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Maybe there's one lender out there somewhere. I base my statement on comments from others on here when they post their app results for a mortgage or apps for other credit. I don't believe there ever has been a post in here of someone saying their lender pulled TU08. It's always TU04 (or industry-enhenced for other types of loans). In other words, I don't see anyone using FICO08 versions at all. Even GECRB for Wal-Mart doesn't even use TU08, they use their own score.

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I thought several credit card issuers (including large ones vis a vis Discover / Amex) were now doing '08 credit-enhanced pulls?  Mortgage of course is still all FICO '04 models, but I thought that was changing as of last year or so for other product types.

[llecs]

Maybe. But are any Classic versions being used by lenders for FICO08? I have seen some posters hint that CC issuers might be using FICO08 CC-enhanced scores. We should create a thread or chart showing pulls and verified FICO versions (or other scores like in the case of GECRB or sometimes Amex with their own score).

[android01]

I've always suspected that the PSECU EX FICO score is TU08.  I wonder if there's any way to find this out?

[llecs]

  Is EX the new TU? For those wondering, the EX FICO at PSECU is a Fair Isaac Risk Model v2 (older version) for EX and used by most lenders.

[pakman92]

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android01 wrote:

I've always suspected that the PSECU EX FICO score is TU08.  I wonder if there's any way to find this out?

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I think what you mean is that you suspect PSECU EX FICO score is Risk Model V3 (EX version of Fico 8)

[pakman92]

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llecs wrote:

  Is EX the new TU? For those wondering, the EX FICO at PSECU is a Fair Isaac Risk Model v2 (older version) for EX and used by most lenders.

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Darn llecs beat me to it.

[Revelate]

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llecs wrote:

Maybe. But are any Classic versions being used by lenders for FICO08? I have seen some posters hint that CC issuers might be using FICO08 CC-enhanced scores. We should create a thread or chart showing pulls and verified FICO versions (or other scores like in the case of GECRB or sometimes Amex with their own score).

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Yeah, I highly doubt Classic versions are being used by the lenders currently (which I think is basically "mortgage-specific" these days?).  Virtually all of my information has been from random posts on this forum on that topic.

That's a good idea on the score chart, though I suspect most lenders run not only FICO (and perhaps multiple versions) but also their internal algorithms too so I don't know how closely that'd track any sort of approval decision for a given lender.  Would be interesting data to see though as to how quickly a given model is being adopted.