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Most accurate Credit Score Trackers?

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Anonymous
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Most accurate Credit Score Trackers?

What are the most accurate places to see your score, or all pretty much way off from what lenders use?

 

For instance I received a copy of my Experian score along with a new card  I received --- the score was 800. However, the Experian score I pay $20 a month for through FreeCreditReport.com (funny since it costs $) had me in the 760s at the time I applied for the card.  Always assumed it would have been more accurate than other trackers like CreditKarma since it is supposedly powered by Experian, but I guess not.

Message 1 of 5
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Anonymous
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Re: Most accurate Credit Score Trackers?

Your best bet is myfico.com here. The one that are sold by various website, even from experian, transunion and equifax are almost always not fico scores but their immitation model.

Do note that even you buy the most expensive package here, there's still the chance that lender uses an outdated score or different model.
Message 2 of 5
Anonymous
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Re: Most accurate Credit Score Trackers?

keep in mind there are different types of experian fico scores and not all lenders use the same score. your tracker may be fico 04 while the card you apped for pulled fico 08 or something. keep that in mind too. the service here you pay for shows you all your scores
Message 3 of 5
takeshi74
Senior Contributor

Re: Most accurate Credit Score Trackers?

You cannot rely on oversimplifcations like "accurate".

 

There isn't just one scoring model used by all creditors/products so no one model is relevant in all situations.

 

 


@Anonymous wrote:

For instance I received a copy of my Experian score along with a new card  I received --- the score was 800. However, the Experian score I pay $20 a month for through FreeCreditReport.com (funny since it costs $) had me in the 760s at the time I applied for the card.  Always assumed it would have been more accurate than other trackers like CreditKarma since it is supposedly powered by Experian, but I guess not.


FICO is the industry standard though some creditors do use VantageScores or even their own proprietary scoring.  FICO is not a product of any of the CRA's.  The CRA's hold your report data.  They have created their own scores and even teamed up to create VantageScore in an attempt to replace FICO as the industry standard but they have not succeeded yet.  FICO is a product of the Fair Isaac Corporation and you're on their web site.

 

Even with FICO there isn't just one scoring model -- see also the Understanding FICO Scoring subofurm and its stickies.  Different models evaluate report data differently and can even have different scoring ranges so you cannot use a score generated by one model to determine a score generated by a different model.

 

You always need to consider the specific model and the CRA when referencing a score.  The score that matters is whatever score a given creditor uses as that is what is used in the credit decision.  If a creditor uses a TU FICO 8 then you need to pull a TU FICO 8 if you want to know what that creditor will pull for you.  Another may use a different model and CRA.  Consider relevance, not accuracy.  Any score is accurate but only for its own scoring model.

 


@Anonymous wrote:

funny since it costs $


Never rely on price alone no matter what the topic.

 

 

Also don't overlook other discussions as resources as this is an extremely common topic.

 


@Anonymous wrote:
Your best bet is myfico.com here.

Don't just bet.  Understand what your creditors use.  Find solutions that fit your specific needs/wants.  myFICO is not a one-size-fits-all solution.

Message 4 of 5
Anonymous
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Re: Most accurate Credit Score Trackers?

an here's takeshi to brighten everyone's morning Smiley Wink lol
Message 5 of 5
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