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Auto Credit and Scoring

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Established Contributor

Re: Auto Credit and Scoring

Ok now I am really confused...What good is a PFICO?
Message 41 of 90
Established Contributor

Re: Auto Credit and Scoring



ObsessedwithmyFico wrote:
Ok now I am really confused...What good is a PFICO?




If you apply for a credit card and the CC company pulls an inquiry from TU, they will most likely be looking at your PFICO score.

If you apply for other types of loans, lenders will most likely be looking at your classic FICO score or an auto-enhanced FICO score. Both the classic and auto scores will be different from your PFICO score.
Message 42 of 90
Established Contributor

Re: Auto Credit and Scoring

Ok that's interesting since my PFICO score is usually almost 30 points higher than my FICO. I get regular updates on WAMU.  Ok now...can you tell me which cards check TU's PFICO? lol
Message 43 of 90
Established Contributor

Re: Auto Credit and Scoring



ObsessedwithmyFico wrote:
Ok that's interesting since my PFICO score is usually almost 30 points higher than my FICO. I get regular updates on WAMU. Ok now...can you tell me which cards check TU's PFICO? lol





Lists of who pulls TU are posted in some other threads, and Tuscani probably has them memorized. Smiley Happy You can also check www.whogavemecredit.com and the credit pulls databases on other credit forums.
Message 44 of 90
Moderator Emeritus

Re: Auto Credit and Scoring

Also remember that PFICO in bank card enhanced... not the classic or BEACON you see on myfico.com... ok, back on topic now please! Smiley Happy
Message 45 of 90
Regular Contributor

Re: Auto Credit and Scoring

I think with my situation that I may just end up getting an auto loan through a dealership and put up with the high interest for the first year, and then refinance with someone else later at a lower rate.  I think it will take another year of careful attention to my credit situation before I'm really going to be in a situation where things will get better for me.  Smiley Sad
Message 46 of 90
Moderator Emeritus

Re: Auto Credit and Scoring



Neblett wrote:
I think with my situation that I may just end up getting an auto loan through a dealership and put up with the high interest for the first year, and then refinance with someone else later at a lower rate.  I think it will take another year of careful attention to my credit situation before I'm really going to be in a situation where things will get better for me.  Smiley Sad



Not a bad plan... just refi in 6 months. Smiley Happy
 
Have you tried roadloans.com?
Message 47 of 90
Established Member

Re: Auto Credit and Scoring

I think I already know the answer to this but the auto credit score is only used by the car dealerships? If I get a loan through a credit union before going to buy a car, they use the FICO score, not the auto score correct?
Message 48 of 90
Moderator Emeritus

Re: Auto Credit and Scoring



mloupagu wrote:
I think I already know the answer to this but the auto credit score is only used by the car dealerships? If I get a loan through a credit union before going to buy a car, they use the FICO score, not the auto score correct?

Usually, but I suppose the CU would have an option to pull an auto score.
Message 49 of 90
Member

Re: Auto Credit and Scoring

So which CRA reflects my "auto-enhanced" score?
Message 50 of 90