02-25-2013 04:28 PM
02-25-2013 04:41 PM
I just started my journey of cleaning up some credit issues because I'm getting ready to apply for a mortgage.
Today I got an email from Walmart because I have a Walmart credit card. The email stated that I will get a free FICO score if I sign up for paperless billing. Do, I did. As promised, they gave me the score.
I'm very skeptical of this score because it gave me TU @ 641. However, I pulled TU from myfico on 2/20 and it came up at 606. I find it very hard to believe that it jumped this much in 5 days!
I did bring my utilization rate down from 33% to 5% as of today, but how could it have updated this fast?!
I questioned Walmart and they sent me to myfico.com to get information on the score. So, they used myfico to get the score.
Ugh, I'm tempted to purchase my TU score so I can look at my report. Ahhhhh, what should I do?
Can this jump be real?!?!
The score that you got from Walmart is a true Fico score but it is a TU08 version (newer version that not many lenders use). The one from myFico is the TU98 version (olders version that some lenders still may use). The one that most lenders tend to pull is the TU04 that is not sold publicly to us consumers.Thats why you get 2 different scores.
02-25-2013 04:55 PM
02-25-2013 08:09 PM
Some CCs are starting to use the TU08 now.
02-25-2013 08:25 PM
It's a joke, isn't it? The credit scoring model is about as good of an idea as Social Security or allowing the existence of a "1%". It's MADE for you to not succeed. Spend more money than usual? Lose points. Open "too many" TL's? Lose points. Be HUMAN and miss a payment? Lose points. Apply for something? Lose points. Don't want a house or already own a car you paid cash for? Can never get into the 750+ range. Charge people with no money 30% interest and people with money 0% for 12 months and 9.99% after. I could literally go on and on about how bad the deck is stacked against you lol. How about 3 different companies with 3 different opinions on your creditworthiness? Or INSTANT reporting of negative information and 56k dialup transmissions on positive information? Ok, I ranted there. phew.
02-25-2013 08:34 PM
Oh wow, now there's different versions of scores?!?! This is crazy. How are you supposed to know which one everyone uses. My mortgage broker told me to bring my score up to 650. So, I'm focusing on the numbers. Now, this news is a blow to me now that you're telling me there's different ones. Ugh!
The one your lender is probably going off is your TU04 version. Most mortgage lender pull that one.
02-25-2013 08:36 PM
Some CCs are starting to use the TU08 now.
very true and as you know Shogun there is also the "bankcard-enhanced TU Fico score that banks like Merrick and others may use.
02-26-2013 09:32 AM
Ya. I have been trying to mount a campaign to get this site to give us a TU04 score instead of at TU98 score. The message I got back from the moderator was last time they asked the issue was with Transunion not wanting myfico to sell that score to the public. They would only allow the TU98 score to be sold on this site. That was the most recent news I heard on that. It is a little confusing but your scores should not be too too far off of each other as long as they are real FICO scores. good luck.
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