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Regular Contributor
Balbanes
Posts: 143
Registered: ‎06-05-2008
0

Re: myFICO vs. Lender Pulled Scores


AquaCredit wrote:

Sounds like the FICO is now a FAKO. Since there are so many FICO's, you really never know which one is real.

 

I'm going to start pushing my US Senator. This is completely bizarre that our entire banking and credit industry is designed around a system that is not easily understood or accessed by the consumer.

 

The fact you only get one credit bureau copy a year is wrong. It's your private information. It should be protected and yours to access at any time. The fact you can only get your score from a lender is wrong. The fact that there are so many different scores is wrong.


There is a good reason for that. It was designed for lenders. The credit reporting agencies...FICO...their customers are the lenders. Not us. It's taken many years and many federal laws to get us to where we are at today in terms of transparency with the CRAs and FICO.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Established Member
AquaCredit
Posts: 18
Registered: ‎10-31-2011
0

Re: myFICO vs. Lender Pulled Scores

[ Edited ]

Oh, I understand. But the point is, its wrong if consumers personal information isn't protected and we don't have free access to what people are saying about us. Fact is, If I have your social security number, I can pull your credit, and put an entry on there saying you owe me money and you can't stop it. This is exactly why people are protesting on wall street. This is really crooked... And there are a TON of very evil collection agencies in this country collecting on debts that aren't even valid. It's a thriving and viable business and its because of THIS system that they survive. And why is FICO selling us a score knowing that most lenders aren't even using it?

10/3/11
TU 590 & Exp Plus 636
11/26/11 *Updated*
(Lender pull) TU 626, EQ 622 & Exp 667
Regular Contributor
Balbanes
Posts: 143
Registered: ‎06-05-2008
0

Re: myFICO vs. Lender Pulled Scores


AquaCredit wrote:

Oh, I understand. But the point is, its wrong if consumers personal information isn't protected and we don't have free access to what people are saying about us. Fact is, If I have your social security number, I can pull your credit, and put an entry on there saying you owe me money and you can't stop it. This is exactly why people are protesting on wall street. This is really crooked... And there are a TON of very evil collection agencies in this country collecting on debts that aren't even valid. It's a thriving and viable business and its because of THIS system that they survive. And why is FICO selling us a score knowing that most lenders aren't even using it?


I'll do devil's advocate. It's not your personal information that is being reported. It's the banks financial information that is being reported. It's not really your credit report. It's the bank's credit report on you. That is how they look at it. They are paying to report and be reported to. They covet their right to do this. It's a big club...and we aren't in it. And they believe in the golden rule. Now they are obligated to follow state and federal laws in regards to reporting and collecting. The information does have to be accurate according to federal law.

 

Don't get me wrong, I have no love for the system. I believe it is crooked. Look who runs it. How could it not be!:smileyvery-happy:

 

I can't speak to as why FICO only sells one of their products to consumers. We just really aren't their big customers.

Ex: 657 (fico lender pull)
Tu: 666 fico
Eq: 641 fico
Valued Member
tuckandroll
Posts: 31
Registered: ‎08-15-2012
0

Re: myFICO vs. Lender Pulled Scores

[ Edited ]

I just had mine pulled yesterday for FHA loan this is what I found out.  I have been watching my scores very closely by all means necessary to get to this point.  I was able to raise them considerably in a few months.

 

TU -

FICO 692 (edit 792 was typo sorry)

creditkarma = 591 & transrisk 704

Lender 679

 

EQ -

FICO 646

per EQ website 639

Lender 646

 

EX -

per EX website - 667

Lender 692

 

Lender used credit technologies to pull scores they use the following formats (it comes with a nice report that lists all this out)

TU - FICO Classic 04

EQ - FACTA Beacon 5.0

EX - Fair ISSAC Ver 2

 

Hope this helps.

 

- 6/2012 - FICOs EX 550 TU 580
- Lots of work.....
- 9/20/12 - FICO EX 646 TU 692
- Dec 12 - Home purchase - May 13 Auto Purchase
- 6/10/13 - FICO EX 672 TU 690
It CAN happen to you!
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: myFICO vs. Lender Pulled Scores

Tuckandroll...of course the creditkarma, transrisk, the score from equifax.com, and the score from Experian are all FAKOs, but did the 792 come from myFICO.com? Did you pull the 792 on the same day as the lender's 679? 113 points seems like an extreme.

Valued Member
tuckandroll
Posts: 31
Registered: ‎08-15-2012
0

Re: myFICO vs. Lender Pulled Scores

[ Edited ]

llecs wrote:

Tuckandroll...of course the creditkarma, transrisk, the score from equifax.com, and the score from Experian are all FAKOs, but did the 792 come from myFICO.com? Did you pull the 792 on the same day as the lender's 679? 113 points seems like an extreme.


I understand they are FAKO's, some ppl including myself were curious on the difference between the FAKO's and lender pulls.  I fixed the FICO score, it was a typo 692. 

 

Yes all scores the same day, lender pull was last. Today of all the FAKO's are the same except EQ dropped due to the inquiry 5pts.

 

- 6/2012 - FICOs EX 550 TU 580
- Lots of work.....
- 9/20/12 - FICO EX 646 TU 692
- Dec 12 - Home purchase - May 13 Auto Purchase
- 6/10/13 - FICO EX 672 TU 690
It CAN happen to you!
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: myFICO vs. Lender Pulled Scores

That makes more sense now for TU. Mine was 10 off in the favor of TU98 and DW's was off 30 in favor of TU04.


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