Difference in Scores

[Gracie_217]

I'm having motgage company run score in 5 days. After reading this now I'm afraid to do it. Is it better to go directly to all 3 bureaus?

[Revelate]

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@Gracie_217 wrote:

I'm having motgage company run score in 5 days. After reading this now I'm afraid to do it. Is it better to go directly to all 3 bureaus?

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The best thing you can do to know where you stand, is to pick up the Equifax Score Power product.  That is a mortgage score.

Transunion I don't' think even sells a FICO directly, and the FICO score EX has started selling is the same one as here, FICO 8, which is not used in the current mortgage market.

[Gracie_217]

Of course EX is the one I need. Thanks for the info

[bdhu2001]

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@Gracie_217 wrote:

Of course EX is the one I need. Thanks for the info

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That being the case, pay for your 08 EX FICO score and estimate that your mortgage score is 40-60 points lower. If it's closer, you'll be pleasantly surprised. Ive been getting my bankcard score so I'm not sure of the difference when it the generic 08 score. Best of luck!!!

[StartingOver10]

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@bdhu2001 wrote:

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@Gracie_217 wrote:

Of course EX is the one I need. Thanks for the info

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That being the case, pay for your 08 EX FICO score and estimate that your mortgage score is 40-60 points lower. If it's closer, you'll be pleasantly surprised. Ive been getting my bankcard score so I'm not sure of the difference when it the generic 08 score. Best of luck!!!

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It's not always lower. My mortgage scores are much higher than my FICO 08 scores. 

[MercyMe]

Good morning, all; and please do forgive my ignorance, but I've just accessed the FICO score Citi Bank offers and it's quite a bit higher than my FICO score here.  Why is that? 

Citi Bank:  731

MyFico: 713.

Is Citi Bank providing the bank card score?  Is that why the difference? 

Thanks, in advance.

[Anonymous]

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@MercyMe wrote:

Good morning, all; and please do forgive my ignorance, but I've just accessed the FICO score Citi Bank offers and it's quite a bit higher than my FICO score here.  Why is that? 

Citi Bank:  731

MyFico: 713.

Is Citi Bank providing the bank card score?  Is that why the difference? 

Thanks, in advance.

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The score Citi is providing is a bank enhanced EQ FICO 08.  Therefore it wouldn't match the FICO here in your dashboard.  However if you pull new reports it does give you additional FICO scores including that one.  Hers a lengthy discussion of the Citi score:

http://ficoforums.myfico.com/t5/Credit-in-the-News/CITI-BANK-to-offer-FICO-Scores/td-p/3544649

[Anonymous]

Hi All,  Late in conversation... Need help! Struggleing after some life changes and  need to boost my scores for a mortgage, ASAP. Socres seemed okay thru Experian/TU credit tracking... but mortgage broker ran credit and scores he got much scores lower by 30-90 points. Not sure where to start. What types of accounts does bank version rate more?

[gdale6]

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@Anonymous wrote:

Hi All,  Late in conversation... Need help! Struggleing after some life changes and  need to boost my scores for a mortgage, ASAP. Socres seemed okay thru Experian/TU credit tracking... but mortgage broker ran credit and scores he got much scores lower by 30-90 points. Not sure where to start. What types of accounts does bank version rate more?

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welcome to My fico

If the scores you are getting are not Ficos then you need to disregard them, the mortgage industry uses Fico 04. The scores you will get in the monitoring here on My fico are Fico 08 and they will be different from the scores the mortgage lender will pull. If you dont have at least 3 open bankcards and 1 store card you need to get to that number quickly as that is the minimum number needed to really drive your FIco. You should also be addressing any derogs your have on your CRs. I recommend you pull all 3 of your reports directly from the CRAs and have them delivered by mail and then sit down and triage them, you can post direct questions in our rebuilding forum if you need help with your derogs. Good luck in your credit journey.

[Anonymous]

If you buy the score monitoing product from myfico; it gives you all of your socres. The standard Fico Score 8, Fico Auto 8 used for auto loans, and the previous verison Fico Auto 5, Fico Score 5 used for mortage companies, and Fico Bankcard Score 8 and the previous verison 5 used for credit cards and banks.