Understanding FICO® Scoring

[JellyFish]

Hello, All!!

I know that PLUS scores are not real scores, but I was just wondering how much of a difference there is in these scores. Specifically Experian.

My EQ FICO is 630; PLUS EQ is 566 (what?!!!)

My EX PLUS is 589.

Thanks,

Jelly

[Jazzzy]

Hi JellyFish,

There is just no way to tell. Someone may give you an idea of their differences, but that doesn't mean it would carry over and be meaningful to your scores.

[fused]

My FICO scores have almost always been higher than my Plus scores. It can go either way. In fact, quite a few people have stated their Plus scores are higher than their FICO scores. I also agree with what Lynette posted.

[JellyFish]

Thanks for the input, but I'm still confused!!!! :-) I guess, that's just the way they (CRAs)us!!!

[beamMEup]

Hi Jelly,

It can be pretty dang frustrating - especially if you shelled out cash to get a PLUS score.  I get FAKO PLUS scores from CCT and was pulling them when we did our mortgage app.  That allowed us to compare all three PLUS and FICO scores for both DH and I - so six scores altogether.  I also subscribe to ScoreWatch and get FICO EQ score updates that I compare with my ongoing CCT FAKO PLUS scores.

When we compared scores, they were all over the place.  DH's PLUS EXP score was his highest, his FICO EXP score was his lowest.  Mine was converse; my PLUS EXP score was my lowest and my FICO EXP score was high. 

DH's PLUS score range between the three CRA's is less than 10 points.  His FICO scores cover an almost 90 point range. 

When companring FICO to PLUS, some of our scores were relatively close, some were 100 points off. 

When my FICO went up, my PLUS did't.  When my PLUS went up, my FICO went down.  No pattern.  No nothin'.

"The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way.  This is important because lenders don't use FAKO scores; they almost always use FICO. So it does you no good to know a score that a) isn't correct, b) won't be considered by lenders."

Experian is fairly straight forward in saying, "The Experian-developed PLUS Score model is a consumer-focused credit score."  That means it is a product designed to sell to consumers.  It is, in short, a cash cow.  Because it is not designed to mirror FICO - but is designed as a consumer tool, it has differing criteria.  That is also why the advice given along with PLUS and other FAKO scores is faulty when applied to FICO scoring.  Following FAKO advice can, and does, lower FICO scores. 

[JellyFish]

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beamMEup wrote:

Hi Jelly,

It can be pretty dang frustrating - especially if you shelled out cash to get a PLUS score.  I get FAKO PLUS scores from CCT and was pulling them when we did our mortgage app.  That allowed us to compare all three PLUS and FICO scores for both DH and I - so six scores altogether.  I also subscribe to ScoreWatch and get FICO EQ score updates that I compare with my ongoing CCT FAKO PLUS scores.

When we compared scores, they were all over the place.  DH's PLUS EXP score was his highest, his FICO EXP score was his lowest.  Mine was converse; my PLUS EXP score was my lowest and my FICO EXP score was high. 

DH's PLUS score range between the three CRA's is less than 10 points.  His FICO scores cover an almost 90 point range. 

When companring FICO to PLUS, some of our scores were relatively close, some were 100 points off. 

When my FICO went up, my PLUS did't.  When my PLUS went up, my FICO went down.  No pattern.  No nothin'.

"The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way.  This is important because lenders don't use FAKO scores; they almost always use FICO. So it does you no good to know a score that a) isn't correct, b) won't be considered by lenders."

Experian is fairly straight forward in saying, "The Experian-developed PLUS Score model is a consumer-focused credit score."  That means it is a product designed to sell to consumers.  It is, in short, a cash cow.  Because it is not designed to mirror FICO - but is designed as a consumer tool, it has differing criteria.  That is also why the advice given along with PLUS and other FAKO scores is faulty when applied to FICO scoring.  Following FAKO advice can, and does, lower FICO scores. 

---

Thanks for chiming in on this one! I see what you mean. My EQ FICO went up. and my EQ PLUS stayed the same. There is a 64 point difference between 2 scores. That's crazy. My FICO TU is 659, while my PLUS TU is 719. It's just plain weird!!!!!  

[GregB]

Due to walking a fine line with my credit at the end of a long divorce, I am using Scorewatch (EQ FICO), TrueCredit (TU FAKO), and Creditexpert (EX FAKO). I am pulling TU and EX almost every day and watching Scorewatch alerts. They never change by the same amount and frequently the same change will change one score and not affect the other. Bear in mind these are all revolving accounts that are changing but some of the amounts are substantial such as one account going from $7150 to $0. This changed my EX FAKO from 744 to 766 but my EQ FICO from 705 to 708. A few days later another account going from $0 to $15,265 left my EX FAKO unchanged but my EQ dropped back to 705.

I'm keeping a spreadsheet of all the amounts and making sure the totals and accounts with balances match on the spreadsheet and reports.

There are some differences such as a HELOC that is in "Revolving" in EX. EQ shows the total in "your mortgages" even though they show it as revolving in the "Account Details" list

[homerunstacy]

I decided to go nuts this week myself and do some comparisons with FAKOs and FICO.  Mostly because I am just curious but also b/c I am monitoring to see how my loan modification trial reporting impacts assorted scores.  Only real baddie on my report which is really killing my scores. Sadly showing 90 plus days late even though I am paying on time every month during the trial.  I am fighting with Wells Fargo on it now so we will see what happens.  At any rate here is my latest scores. The only ones I really care about are the FICO.  I just decided to pull plus this week via Discover card.  Probably cancel it after a month since I really believe these scores are useless.

SCORE TRACKING          TU        EQ       EX

TrueCredit TU                 683       688     693

MyFICO EQ                      622       604

Credit Karma TU                                      647

PLUS Score EX             659        652     668

[MarineVietVet]

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homerunstacy wrote:

I decided to go nuts this week myself and do some comparisons with FAKOs and FICO.  Mostly because I am just curious but also b/c I am monitoring to see how my loan modification trial reporting impacts assorted scores.  Only real baddie on my report which is really killing my scores. Sadly showing 90 plus days late even though I am paying on time every month during the trial.  I am fighting with Wells Fargo on it now so we will see what happens.  At any rate here is my latest scores. The only ones I really care about are the FICO.  I just decided to pull plus this week via Discover card.  Probably cancel it after a month since I really believe these scores are useless.

SCORE TRACKING          TU        EQ       EX

TrueCredit TU                 683       688     693

MyFICO EQ                      622       604

Credit Karma TU                                      647

PLUS Score EX             659        652     668

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Your belief is correct.

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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