Difference between myfico and experian

[Anonymous]

I am planning to refinance my mortgage. If my score is <720, I want to wait before refinancing. If its 720+, then I would like to pull the trigger (740 seems long way to go).

I checked my FICO 2 score in experian.com a week back. It turned out to be 718. Later, I found this myfico website providing FICO scores of all 3 bearueas and signed up. I see, the experian FICO 2 score to be 735 in this website. Nothing happened in last week that will increase my score 17 points. I suspect one of these to be wrong. does any one have any experience? Which of these websites are more accurate? I want to time my mortgage correctly.

[Anonymous]

Are you positive they're both FICO 2 scores and not just "FICO" scores?  I was under the assumption that Experian.com only offers FICO Score 8, not 2.

In a week a lot could happen -- you may have jumped in AAoA to a longer year, or your oldest account aged enough to bump you to a better "scorecard" or some inquiries may have aged off (12 months) or you may not longer have a new account penalty (6 months), etc.  Maybe you dropped utilization on an account enough...  Or paid a loan down below a utilization breakpoint.

[Anonymous]

Thanks for your reply. Experian.com gives FICO 2 score on demand by charging $5 everytime we check it. I will consider the factors you mentioned.

Oldest account : 2year 3 months

Inquiry in last year: Oct 5, 2016 (This should have gone by Oct 5 2017).

New Account Penalty: My most recent is Apr 2017. So, this seems a possibility as you mentioned.

Thanks anyways. On the other hand, are the scores mentioned in this website reliable enough? Has anyone seen discrepancies after going to the lender?

[Anonymous]

So far I've "tested" MyFICO's scores against what a lender pulls 3 times.  2 times it was identical that day, one time it was off by a little bit because I pulled my scores a week ahead of when that lender did.

April 2017 "new account penalty" is 6 months so October would make sense that you would no longer have a new account penalty.  That can be pretty drastic for stronger profiles, too, but like anything, your mileage may vary!

The inquiry from October only hurt full value for 6 months, then from 6-12 months it hurt less and less, and after 12 months it hurts zero, so I doubt that's it.

If utilization changed at all, that could also have an effect -- both loans and revolving accounts.

[MauiMan85297]

When I went for my mortgage 9 months ago it was identical, then a month before closing they pulled again and MF was slightly different from score they pulled but that was for any reasons described above in the 2 weeks that I got my updated scores from MF (every 3 months) from when lender pulled which was 15 days later.

MF mortgage scores are correct and legit.

[DollyLama]

Are you obtaining your TU and EQ mortgage scores also? Many lenders do a tri-merge, mortgage scores of all 3 bureaus, and will use the middle score. Toss the highest and the lowest and you have your middle score. It's a possibility your middle score is at the 720 mark. 

[Anonymous]

Thanks DollyLama. When I checked with experian.com few weeks back, it was only experian. Now with myfico, I got it from all 3B scores. You're right my score is past 720 now (all 3 of them are past 720).