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Quick Fako and Fico Score most of you can probably answer...

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Revelate
Moderator Emeritus

Re: Quick Fako and Fico Score most of you can probably answer...


@Bankrupt2019 wrote:

you need to know which auto enhanced version they are using. Your auto enhanced 4 is probably going to be lower than your auto enhanced 8.


I seriously doubt there are many CU's which are using auto-enhanced scores; they're way behind the tradtional banks in terms of score adoption.  Penfed / DCU / and I think NFCU use a single score version for literally everything, and Penfeds #4 in the US, NFCU #1, what's the smaller CU set likely to do in this regard?

 

Also in my file at least from recent testing, benefits to my FICO 8 scores translated to all of the FICO 8 Auto Industry Options too, across the board.  Likewise my older score versions mostly tracked too within their given model version (Bankcard 04 is a wierd animal for me though)... which supports the usual theory of: create a pretty credit file, and you'll get a pretty credit score regardless of what model is chosen.




        
Message 11 of 18
Anonymous
Not applicable

Re: Quick Fako and Fico Score most of you can probably answer...

I seriously doubt there are many CU's which are using auto-enhanced scores; they're way behind the tradtional banks in terms of score adoption.  Penfed / DCU / and I think NFCU use a single score version for literally everything, and Penfeds #4 in the US, NFCU #1, what's the smaller CU set likely to do in this regard?

 


It's 100% an auto enhanced, i spoke with 2 seperate reps. The second i made sure to not mention anything, i asked what bureau they pull(equifax). 'so if i just get my fico score equifax that's it and i'm good', rep: no we actually use an auto enhanced version of equifax. So fairwinds atleast is riding the wave.

 

And in my situation the little bitsof corse will matter, If my fico eq is coming in at 650, so i automatically assume it's atleast 660 for my auto enhanced, they pull it and it's 659 since it's only five months or so into the report, i'd be pretty upset. Relevate, how did you get your auto fico's? Here? and if so, which product did you have to select? The $20 or so it will cost to know for sure when to refi, is nothing compared to a whopping 2- 2.5% difference in interest

Message 12 of 18
Bankrupt2019
Established Contributor

Re: Quick Fako and Fico Score most of you can probably answer...

Its really still going to depend on your file,

I'll share my situation to show what I mean

my file has several charge offs a few years old a couple new credit cards with $6000 in limits with about $2500 used

ALL auto loans in my file have always been paid 100% on time. One loan is $5000 remaining on a $35,000 loan the other is $16,000 remaining on a $28,000 loan

 

my TU FICO 8 is 617

my TU Auto Score 8 is 615

my TU Auto Score 5 is 573

 

my EQ FICO 8 is 624

my EQ Auto Score 8 is 632

my EQ Auto Score 5 is 626

 

hope this is remotely helpful.

 

all of these score are from myFICO









Message 13 of 18
Anonymous
Not applicable

Re: Quick Fako and Fico Score most of you can probably answer...

They are helpful. But what subscription are you signed up for? Should I do the $20 a month eq one? Will that give me all my auto scores? And I'm guessing they aren't daily updates?
Message 14 of 18
Bankrupt2019
Established Contributor

Re: Quick Fako and Fico Score most of you can probably answer...

I have the 3 bureau monitioring. The fico score update whenever there is an update to the report, however with that option you only get one 3B report every 12/months.

 

if you get the 1B report with score it should have all the scores.









Message 15 of 18
Anonymous
Not applicable

Re: Quick Fako and Fico Score most of you can probably answer...


 

if you get the 1B report with score it should have all the scores.


Sorry if i'm asking dumb questions, i just feel as if myfico isn't clear enough to me on their site. So if i order the one that the 1B for 19.99, the essentials, it will update whenever there is a change(which realistically, is all that's needed) and whenever it DOES update, i'll have my auto score/fico 8/whatever other scores it gives, for that new update? correct? And those 6 scores in that im assuming are predetermined and aren't up to me to choose. 

 

Edit: Just called fico, they said the other 6 scores will only update in according when i get a new credit report, ie: once a month. 3 of my cards will be reporting on the 23rd, and should be updated with the bureau's by the 26th, So i suppose if i do sign up for this, it would only make sense to wait until the 26th. If anyone can tell me that's wrong that would be great, otherwise i'll just be waiting. Thanks for all of your help.

Message 16 of 18
Revelate
Moderator Emeritus

Re: Quick Fako and Fico Score most of you can probably answer...


@Anonymous wrote:

 

if you get the 1B report with score it should have all the scores.


Sorry if i'm asking dumb questions, i just feel as if myfico isn't clear enough to me on their site. So if i order the one that the 1B for 19.99, the essentials, it will update whenever there is a change(which realistically, is all that's needed) and whenever it DOES update, i'll have my auto score/fico 8/whatever other scores it gives, for that new update? correct? And those 6 scores in that im assuming are predetermined and aren't up to me to choose. 

 

Edit: Just called fico, they said the other 6 scores will only update in according when i get a new credit report, ie: once a month. 3 of my cards will be reporting on the 23rd, and should be updated with the bureau's by the 26th, So i suppose if i do sign up for this, it would only make sense to wait until the 26th. If anyone can tell me that's wrong that would be great, otherwise i'll just be waiting. Thanks for all of your help.


The additional scores don't update, and I don't think MF offers a 1 once a month update (yet) would be awesomesauce if they did though, may need to in response to CCT's new release from a product perspective.

 

What you really want is the Equifax 1 Bureau pull for $20, that'll give you your current snapshot.  Stupid dumps from some of my own reports while mortgage chasing and some testing:

 

Score24-May29-May5-Jun4-Jul 
EQ 8690690690725 
EQ 5700700700693 
EQ Auto 8701701701728 
EQ Auto 5697697697692 
EQ Bank 8705705708742 
EQ Bank 5721721721720 
  24-May 29-May5-Jun12-Jun 5-Jul
TU 8706706706711 
TU 4731731731731 722
TU Auto 8728728728733 
TU Auto 4746746746746 
TU Bank 8723723723728 
TU Bank 4745740745759 
 24-May29-May5-Jun3-Jul4-Jul
EX 8712712720 739
EX 2725725728722732
EX Auto 8717717728 757
EX Auto 2741741746 747
EX Bank 8726726739 757
EX Bank 3697697697 687
EX Bank 2739739741 745



        
Message 17 of 18
takeshi74
Senior Contributor

Re: Quick Fako and Fico Score most of you can probably answer...

 
Message 18 of 18
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