myFico scores

[Anonymous]

How accurate are myFico scores?  Thanks in advance dP

[haulingthescoreup]

These are true FICO scores, therefore they're accurate.

myFICO is currently using an older TU formula and is due to transition to the newer formula, now that more than half of the lenders have started using the newer one.

EQ - Beacon 5.0
TU - TU98 (to change to TU04)
EX - Experian/Fair Isaac Risk Model V2



edit: Thanks, llecs! If only my laptop had a numeric keypad over to the side. I never could type top-row numbers.

Message Edited by haulingthescoreup on 03-30-2009 04:01 PM

[marty56]

---

@haulingthescoreup wrote:
EX - Experian/Fair Isaac Risk Model V2

---

I knew it, the mods can still get their EX scores here!  Forum riot - mods are dragged into the street and tickled into giving us the secret code to get our EX score.

Seriously,  it would be interesting to see how our TU scores change when they switch to the new formula.  I would hope Barry would post the info here so we could compare our old and new TU score without having to wonder why our score changed.  IMHO I think my TU score would go down since I remeber me TU score at the car dealer was lower and I have several autoloans on my CR and non were ever late so I dont think my auto score is lower than my regualr TU score.

[llecs]

---

marty56 wrote:

Seriously,  it would be interesting to see how our TU scores change when they switch to the new formula.  I would hope Barry would post the info here so we could compare our old and new TU score without having to wonder why our score changed.  IMHO I think my TU score would go down since I remeber me TU score at the car dealer was lower and I have several autoloans on my CR and non were ever late so I dont think my auto score is lower than my regualr TU score.

---

To clarify Hauling...I think she meant TU'04, not '94.

This site as menationed offers TU'98. TU'04 comes in a close second and if a majority of lenders switch to that then you'll see '04 used. Last month or so, FICO unveiled TU'08 which added more buckets and considers payment trends more than before. I suspect that not many lenders are using this newer version (because it is so new). And yes...that would be cool if FICO would sell all versions via this site. They'd get more of my $$$.

---

marty56 wrote:

I knew it, the mods can still get their EX scores here!  Forum riot - mods are dragged into the street and tickled into giving us the secret code to get our EX score.

---

Marty, we do have access to EX scores. If you click on......Wait...Who's there?! Hello? Is anybody there? OK, as I was saying, if you......................

This is llecs. There is no EX link.

[Junejer]

---

llecs wrote:

---

marty56 wrote:

Seriously,  it would be interesting to see how our TU scores change when they switch to the new formula.  I would hope Barry would post the info here so we could compare our old and new TU score without having to wonder why our score changed.  IMHO I think my TU score would go down since I remeber me TU score at the car dealer was lower and I have several autoloans on my CR and non were ever late so I dont think my auto score is lower than my regualr TU score.

---

To clarify Hauling...I think she meant TU'04, not '94.

This site as menationed offers TU'98. TU'04 comes in a close second and if a majority of lenders switch to that then you'll see '04 used. Last month or so, FICO unveiled TU'08 which added more buckets and considers payment trends more than before. I suspect that not many lenders are using this newer version (because it is so new). And yes...that would be cool if FICO would sell all versions via this site. They'd get more of my $$$.

---

This, in fact, has happened.  It has been several months, since more than 50% of lenders are using TU '04.  It just takes MyFICO a bit of time before things get switched over.  It is not an automatic occurrence.

[haulingthescoreup]

I think TU has to agree.

Every now and again I like to list the full names of the FICO score models so that when newbies get going on the my-lender-doesn't-use-FICO's, we can compare the names of the scores. Besides, it forces me to search for the old threads on this.