Reply
New Member
Posts: 3
Registered: ‎05-13-2014
0

Re: Difference in Scores

[ Edited ]

thay were from Equifax directly 

 

this is my fako sorry but I thing fico is not used by lenders or by many lenders any more

 i dont have before score from fico only from

 

 

Past FICO Scores powered by Equifax data

Report Date: 05/13/2014

View Until: 05/25/2015

 

Valued Contributor
Posts: 1,794
Registered: ‎07-01-2010
0

Re: Difference in Scores

A FAKO scoring model may handle paying off an installment loan differently than what FICO does.

 

Lenders do use FICO scores, along with proprietary scoring models, but many of them are the "enhanced" (auto / bankcard) scores, and thus will not match the regular FICO scores found here and elsewhere.

 

Established Member
Posts: 15
Registered: ‎05-16-2014
0

Re: Difference in Scores

One more question. Is the installment loan I have on my lease now seen as an auto loan and help my auto fico score? Or does it literally have to be categorized as an auto loan.
Moderator Emeritus
Posts: 10,907
Registered: ‎12-30-2011
0

Re: Difference in Scores


Kazuya wrote:
One more question. Is the installment loan I have on my lease now seen as an auto loan and help my auto fico score? Or does it literally have to be categorized as an auto loan.

Anecdotally personal and mortgage installment loans help on a Auto Enhanced score, but student loans may not... so in theory yours should, but whether it gets full points or not is anyone's guess beyond not looking like a "first time buyer" as most folks with no installment history fall into.

 

Source: long-time dealer F&I guy on this forum.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Member
Posts: 8
Registered: ‎05-23-2014
0

Re: Difference in Scores

[ Edited ]

I am not even sure if im doing this right..lol... but here goes.

 

I have been repairing and trying to rebuild my credit since February of this year (2014). I have been monitoring my crdit scores on a few different free sites and one payed.

I am so very confused right now, and very disappointed when i pulled my FICO EQ today on here. The only reason i did is because, this is what these sites say i am at for credit scoreing:

 

(USAA) Ex-634

 

My credit report.com:

ex-634

EQ-643

TU-643

 

Credit seasme:

640

 

Quizzle-

643

 

CK- 550

w/vantiage score of-643

 

I thought it was promising my FICO would be in a home loan range or pretty close to it, they have me at a disappointing 581 :smileyfrustrated:

 

How come regular credit scores are SOOO far off from the FICO? I have three payed off car loans, and a current car loan, i have one resent payed collection account, and two payed charge off accounts(which is the same place actually). That is pretty much it.

 

I just applied for a capital one card the other day and got approved for a 300cl. How fast do you think this will bring up my FICO if i keep util. under 30%? Im so new to this, and just simply very confused, specially when all my regular scores keeps climbing but my FICO seems to be staying the same.

Starting Score: 583EX
Current Score: TU: 686 | EQ: 679 | EX:685
Goal Score: 720s All Around!


Super Contributor
Posts: 8,844
Registered: ‎06-19-2013
0

Re: Difference in Scores


dizzie_lizzie79 wrote:

I am not even sure if im doing this right..lol... but here goes.

 

I have been repairing and trying to rebuild my credit since February of this year (2014). I have been monitoring my crdit scores on a few different free sites and one payed.

I am so very confused right now, and very disappointed when i pulled my FICO EQ today on here. The only reason i did is because, this is what these sites say i am at for credit scoreing:

 

(USAA) Ex-634

 

My credit report.com:

ex-634

EQ-643

TU-643

 

Credit seasme:

640

 

Quizzle-

643

 

CK- 550

w/vantiage score of-643

 

I thought it was promising my FICO would be in a home loan range or pretty close to it, they have me at a disappointing 581 :smileyfrustrated:

 

How come regular credit scores are SOOO far off from the FICO? I have three payed off car loans, and a current car loan, i have one resent payed collection account, and two payed charge off accounts(which is the same place actually). That is pretty much it.

 

I just applied for a capital one card the other day and got approved for a 300cl. How fast do you think this will bring up my FICO if i keep util. under 30%? Im so new to this, and just simply very confused, specially when all my regular scores keeps climbing but my FICO seems to be staying the same.


None of those scores you posted above are fico scores , they are all fako scores. I wouldn't take any of them too seriously. What i would be more concerned about is what is actually on your credit reports. If there are any baddies I would address those first before worrying about differences in scores. 



EX Fico 774 3/3/15 Fako 808 CS/Credit.com 11/24/14
EQ SW bank enhanced 3/24/15 819 CK fako 807 2/7/15
TU Fico Barclay's 3/26/15 791 TU fico walmart 3/23/2015 788 Fako 808 Creditkarma 3/23/15
New Visitor
Posts: 2
Registered: ‎06-03-2014
0

Re: Consumer reports article

You are correct these scores are not even close to what the lenders are using.  Maybe I idea of close is different. We are in the process of buying a house in Texas and I pulled my scores they were about 50 to 75 points off.

Member
Posts: 7
Registered: ‎04-19-2014
0

Re: Consumer reports article

I noticed a huge difference in my case too.  Thankfully it was in my favor.  I pulled my FICO score here on June 1st and got 717.  Two days later I applied for an Infiniti auto lease.  They told me my score was 751!  That was good news, but nothing changed on my report during the two days.  That seems like a pretty large difference.


Starting Score: 679EQ FICO 4/2014
Current Score: 717 EQ FICO, 710 TU FICO, 743 EX VT3.0 Credit.com 6/2014
Goal Score: 750+ FICO for all 3 by 12/2014


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,794
Registered: ‎07-01-2010
0

Re: Consumer reports article


Leo1978 wrote:

I noticed a huge difference in my case too.  Thankfully it was in my favor.  I pulled my FICO score here on June 1st and got 717.  Two days later I applied for an Infiniti auto lease.  They told me my score was 751!  That was good news, but nothing changed on my report during the two days.  That seems like a pretty large difference.


There are many different scoring models used in the lending industry, and because of this, there's a good chance that two scores based on identical reports will not match.

 

In the case of an auto lease, it's possible that the score is an "auto enhanced" one, that gives greater weight to previous auto loan history.

 

This sort of thing makes sense in the auto business, but such a score is not comparable to a general credit score, that doesn't give extra weight to auto loan history.

 

Established Member
Posts: 50
Registered: ‎02-15-2014
0

Re: Consumer reports article

With the new FICO 08 scores, all but equifax took a hit. Not real worried. I'm below 30% on the only card I keep a balance on and I just rotate through my other cards to keep them active and current. The only one that has a balance is Discover that has an intro of 0% until july 2015, so I'm not paying that one off in a hurry. The thing is, my scores between equifax and the other two have always been about 100 points different, before the change and still now, after the change.

 

I got a number of incorrect things off of my reports and got one to agree to remove a derogatory because it was sent to collections for a $1.00 error in repayment, yes, one dollar. It's off of all but Experian. So, should I call the collection company again or should I do a dispute with Experian?

 

So, if this three way comparison is to be believed, I'm being dinged for having too little credit but also getting dinged for having just applied for and gotten 4 new cards this year. I find that amusing. I need more credit so I got more credit and now I'm in trouble for applying for more credit. And they say I should have two more cards!  Lol. This truly is a rigged game, methinks.

 

Now, if I follow what they suggest,I should get two more cards, which should push me back into the swamps! I'm not going to play it their way. We are going on a vacation to Disney so we're using the Disney card for my main PIF for the points. If I were to get two cards right now, I would get the Chase Freedom with the $200 bonus with the first $500 spent, but then, my focus would be away from getting the Disney Dollars and onto getting the bonus with the Freedom card. The other one is the Costco Amex, but I tried a few months ago and got turned down, so it would only make sense to wait until the new year.

 

So, I'm gardening until October. If the Chase Freedom still has the bonus, well, then, I'll apply. And I'll apply for the Costco AMEX in January. I don't really want or care about either of these, but free money is free money and those both have that asset.

 

But the only reason I would even get those two is to play the FICO game. I don't need the credit and I'm still pretty much cash and carry. I'm leveraging a little but I'm careful because I was a very bad "consumer' as a 20 something and I never want to go through that again! With the exception of buying a car or a house,  if I can't pay with cash, I don't get it (even the vacation that sits on Discover, I could have plunked down the cash on - but why take it out of savings to pay a 0%? It's at 27% util)

 

So, question of the day. Is this game rigged (rhetorical) and am I doing okay by not jumping through every hoop My FICO and Cr. K say I should?

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.