barclay denied....huge diff in there TU and my FICO TU score

[DAVE49ERS]

Yeah the TU score is very misleading whole reason I went for the Barclay cc...oh well did get approved for credit one card on the same day. Will just stop using myfico TU score and couldn't agree more with you bigblue

[myjourney]

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@lavencedora wrote:

I think it's bull that we have to pay to know where we stand in our own financial lives, in the first place. To have several different bureaus and have to worry about how they all work, more bull still. Now, come to find out, the score I'm PAYING for is not accurate or up-to-date? Wow. What a freakin' racket.

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Different scores for different reasons = that old saying different stokes for different folks

Yes the TU scores here are older and are mostly used in mortgage loans  TU98 as well as the EX and EQ found here

The newer version TU08 is mostly used for CC's which is being offered to customers via Barclay, Discover and Walmart for free 

So guess which one Barclay pulled..... 

I mean no harm but I recommend before you apply for any card know what CB and scoring type system (model)  they're pulling from just to be safe and decrease your chances of a denial.

Now the part you really won't want to hear there's 49 different scoring models out there and it just depends what the lender wants to use.(pay for)

Some lenders such as Chase and Amex pull your scores and then apply their own internal scoring system to that process to determine approval or denial 

The best way to optimize your chances of approval with each and every one is to make sure your CR's are in perfect shape because score are not the only factor when you hit submit 

Other factors AAoA, INQ's in the last 12 months, Baddies, Loans, UTL just to name a few 

Barclay can be recon'd but be aware it may cost you another HP 

[CreditHealthy]

So, the TU score on Myfico are actually FAKO's, is this what everyone is saying?

[bigblue7722]

Its not a fako it's a true fico but fico 98 which almost no lender uses anymore. Tu 04 and 08 are more widely used now. Myfico does a great job marketing that the give you the score over 90% of the lenders use when that is so far from the truth.

[DAVE49ERS]

yes I feel myfico need to be more upfront about the TU score...does anybody no why the won't give you TU4 or the 08?if it because most lender use the 98 as said in the early post then keep it coming. When apply for a mortage can you ask the bank what model the use?

[bigblue7722]

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@DAVE49ERS wrote:

yes I feel myfico need to be more upfront about the TU score...does anybody no why the won't give you TU4 or the 08?if it because most lender use the 98 as said in the early post then keep it coming. When apply for a mortage can you ask the bank what model the use?

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You can get the tu 08 from walmart, discover, and barclaycard. I would say with a mortgage it varies what lenders pull but mostly 04

[Yogieatsbooboo]

I don't think the TU scores offered here are useless.

Myfico score I purchased matched the ones I was sent by NFCU when I applied for their credit cards. It also matched a few scores I received after car shopping back in March.

[nma851]

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@DAVE49ERS wrote:

....it said TU score is 608 pulled on the 12/26/13 I updated my TU score on myfico and it 660

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I don't mean to "throw" this into the mix with bad intentions however I've noticed that TU is ALWAYS my lowest score.  When TU was the first to have all the old baddies purged, one would think TU would have been the highest & they were far from.  Just as everyone else says, there's so many different models and algorithms I permamently have given up trying to figure it all out without some "manual" of the scoring .  It's been about a 50 point difference at times but has NEVER been higher than the other two.  If I "average" all of my TU scores, they're consistently in the low-mid 700's while the other two will be in the upper 700's.  But again, it's all about juggling the numbers.  I took 2 hits to open 2 new accounts & once they tack on, let's see what happens other than already knowing I'll be in the garden a while!!!  Then again, that's just fine since these were to take advantage of 0% deals for a year (for one purchase) & rewards (the C1 quicksilver rewards).  

As far as I'm concerned, it's fine to go ahead & drop for a while then go back up down the road; I got them for what I needed now & won't be needing another account nor CLI unless the lenders do it on their own free will.  However, I guarantee that my TU will be significantly lower & stay that way even as they rise back up.  At least SOMETHING is consistent in my life LOLOL!!!

You'll get there - all over this board there are people in the same boats and our true friend is time...  Keep your head up & the good work up!!

[guiness56]

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@myjourney wrote:

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@lavencedora wrote:

I think it's bull that we have to pay to know where we stand in our own financial lives, in the first place. To have several different bureaus and have to worry about how they all work, more bull still. Now, come to find out, the score I'm PAYING for is not accurate or up-to-date? Wow. What a freakin' racket.

---

Different scores for different reasons = that old saying different stokes for different folks

Yes the TU scores here are older and are mostly used in mortgage loans  TU98 as well as the EX and EQ found here

The newer version TU08 is mostly used for CC's which is being offered to customers via Barclay, Discover and Walmart for free 

So guess which one Barclay pulled..... 

I mean no harm but I recommend before you apply for any card know what CB and scoring type system (model)  they're pulling from just to be safe and decrease your chances of a denial.

Now the part you really won't want to hear there's 49 different scoring models out there and it just depends what the lender wants to use.(pay for)

Some lenders such as Chase and Amex pull your scores and then apply their own internal scoring system to that process to determine approval or denial 

The best way to optimize your chances of approval with each and every one is to make sure your CR's are in perfect shape because score are not the only factor when you hit submit 

Other factors AAoA, INQ's in the last 12 months, Baddies, Loans, UTL just to name a few 

Barclay can be recon'd but be aware it may cost you another HP 

---

Not sure if I am reading that correctly.  The TU score from myFICO is NOT used in mortgage loans, only the EQ score from here is the same a mortgage lender will pull.

[myjourney]

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@guiness56 wrote:

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@myjourney wrote:

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@lavencedora wrote:

I think it's bull that we have to pay to know where we stand in our own financial lives, in the first place. To have several different bureaus and have to worry about how they all work, more bull still. Now, come to find out, the score I'm PAYING for is not accurate or up-to-date? Wow. What a freakin' racket.

---

Different scores for different reasons = that old saying different stokes for different folks

Yes the TU scores here are older and are mostly used in mortgage loans  TU98 as well as the EX and EQ found here

The newer version TU08 is mostly used for CC's which is being offered to customers via Barclay, Discover and Walmart for free 

So guess which one Barclay pulled..... 

I mean no harm but I recommend before you apply for any card know what CB and scoring type system (model)  they're pulling from just to be safe and decrease your chances of a denial.

Now the part you really won't want to hear there's 49 different scoring models out there and it just depends what the lender wants to use.(pay for)

Some lenders such as Chase and Amex pull your scores and then apply their own internal scoring system to that process to determine approval or denial 

The best way to optimize your chances of approval with each and every one is to make sure your CR's are in perfect shape because score are not the only factor when you hit submit 

Other factors AAoA, INQ's in the last 12 months, Baddies, Loans, UTL just to name a few 

Barclay can be recon'd but be aware it may cost you another HP 

---

Not sure if I am reading that correctly.  The TU score from myFICO is NOT used in mortgage loans, only the EQ score from here is the same a mortgage lender will pull.

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Ooops correct guiness meant EQ 

Thank you