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Cant figure out the new scoring...

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GOLF81
New Contributor

Cant figure out the new scoring...

Here's what my Dashboard on MYFICO (FICO 8) looks like... 677 Equifax , 670 Trans, 664 Experian .  In a previous post I said a creditor ran my report and came back with and EXP score of 633 which got me denied.  When I look on my Dashboard on the "older version scores" i get... Equifax  FICO 5 - 665, Trans FICO 4 - 678, Experian  FICO 2 - 631.  I need to Experian  number to get up over 650...  It's frustrating having all the other okay BUT that one is killing me.  Any thoughts?

 

TU - 550 / EQ - 521 all from myFICO as of 3/3/13
TU - 558 / EQ - 573 all from myFICO as of 3/23/13
TU - 610 / EQ - 603 / EX 655 - all from myfico as of 1.22.14
TU - 632 / EQ - 619 / EX - 673... all from myfico 3.15.14
TU - 658 / EQ - 619 / EX - 659 ... all from myfico 3.31.14
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Cant figure out the new scoring...

Yeah. They're using some goofy risk assessment metric that's not standard FICO scoring. What kind of creditor was it?

Message 2 of 4
Thomas_Thumb
Senior Contributor

Re: Cant figure out the new scoring...


@GOLF81 wrote:

Here's what my Dashboard on MYFICO (FICO 8) looks like... 677 Equifax , 670 Trans, 664 Experian .  In a previous post I said a creditor ran my report and came back with and EXP score of 633 which got me denied.  When I look on my Dashboard on the "older version scores" i get... Equifax  FICO 5 - 665, Trans FICO 4 - 678, Experian  FICO 2 - 631.  I need to Experian  number to get up over 650...  It's frustrating having all the other okay BUT that one is killing me.  Any thoughts?

 


Your older version Fico scores are often referred to as Fico Mortgage scores.

1) EQ Fico 5 is based on the Fico 04 algorithm.

2) TU Fico 4 is based on the Fico 04 algorithm

3) EX Fico 2 is based on the Fico 98 algorithm (which is older than Fico 04)

 

The older versions are more sensitive to # of cards reporting balances, a few new inquiries/credit card accounts and perhaps individual card utilization.

 

Do you have an AMEX charge card? If so, EX score 2 is influenced by reported charge card balance/high balance. The newer Fico 04 and Fico 8 algorithms don't look at B/HB.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 3 of 4
GOLF81
New Contributor

Re: Cant figure out the new scoring...

I just sold my home and am relocating...  I was applying for a housing lease.  Lucklily my high income got them to override the denial...  It however, did shock me and has me worried that i cant get approved.

TU - 550 / EQ - 521 all from myFICO as of 3/3/13
TU - 558 / EQ - 573 all from myFICO as of 3/23/13
TU - 610 / EQ - 603 / EX 655 - all from myfico as of 1.22.14
TU - 632 / EQ - 619 / EX - 673... all from myfico 3.15.14
TU - 658 / EQ - 619 / EX - 659 ... all from myfico 3.31.14
Message 4 of 4
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