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Different FICO scores?

New Member

Different FICO scores?

New to the forum and first time poster.  Thanks so much in advance for any consideration and advice that may be offered.  I paid $14.95 to get my "FICO" score from Equifax.com.  The score they provided was 700.  About a month later, with no change in activity in any of my accounts, I got a free product from my bank that offered "all three FICO scores" and credit monitoring for 30 days, etc...  Anway, the FICO scores they gave me were all in the 650-660 range.  What is the story here?  Also, this was the first time I had ever heard of FICO "scores" (plural).  I thought everyone had one FICO score, and I thought mine was much better than all three of them seem to be.  What is the explanation for all of this? 
9 REPLIES
Moderator Emeritus

Re: Different FICO scores?

FICO is commonly used and looked at by lenders. There are three fico scores one for each bureau. MY Fico will give you those scores any other product like the three in one are models based off the fico scoring model.  FICO is a standard that others use to model their scores so to speak. I believe fico is used more heavily then others. I have other products as well (for comparison sake) but mine show opposite what you are experiencing myfico is lower and the other products are higher. Then again I don't know what the time lapse was in between you use of the two products. Since scores can change quite often. Maybe one of the vets will get back to you soon, hope this helps for now~
PS your fico score with myfico is good!
Moderator Emeritus

Re: Different FICO scores?

Are you sure your bank offered FICO scores.. or did they just say "credit scores". I am guessing the service they signed you up for offered FAKO scores which are not your true scores. Only myfico.com has your true scores which is what lenders use.
New Member

Re: Different FICO scores?

Thanks both of you for your help.  Your responses have led to another question.  The product offered by my bank gave me my three "credit scores", one from each of the three major credit bureaus.  Are you saying these are not FICO scores?  Does everyone have three credit scores AND three FICO scores, which can be vastly different?  I guess I need a remedial level explanation.  Thanks again.
Moderator Emeritus

Re: Different FICO scores?



JT78 wrote:
Thanks both of you for your help.  Your responses have led to another question.  The product offered by my bank gave me my three "credit scores", one from each of the three major credit bureaus.  Are you saying these are not FICO scores?  Does everyone have three credit scores AND three FICO scores, which can be vastly different?  I guess I need a remedial level explanation.  Thanks again.


You have been duped. Smiley Happy Don't feel bad.. Most consumers do not know there is a difference. You can only get your TRUE scores from myfico.com. Consumers only have three true FICO scores. You could have an unlimited amount of "credit scores" depending on where you pay for your report, or which monitoring service you use. Just remember, FICO is the only one you care about.
Moderator Emeritus

Re: Different FICO scores?

It is very confusing to 99% of the population.
 
You have a FICO score based on your TU report, a FICO score based on your EX report, and a FICO score based on your EQ report.  Anything else anyone offers you is useless because it is not the credit score that a lender will use.  Even if you go to the TU website and buy a credit score, it is not a FICO score based on your TU report; it's TU's own product.
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Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.
New Member

Re: Different FICO scores?

Thanks for that simple and clear explanation.  That's what I suspected, that you have a FICO score for each of the major credit bureaus, and you also have "credit scores" for each of them, but the FICO scores are the only ones that really matter.  Thanks again to everyone for taking time to respond. 
Moderator Emeritus

Re: Different FICO scores?

Happy to help!
Moderator Emeritus

Re: Different FICO scores?

Your welcome. This is an excellent place to learn about Fico and how to build your score correctly. You should read through many of the postings on this site it will help you get a feel as to how important it is to keep up with your fico scores as well as you to give us all feedback as to your personal growth while building, and maintaining, your credit file. 
Moderator Emeritus

Re: Different FICO scores?

I'm not sure if your "thanks" was directed @ me, but hope the response was helpful.
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Bartender, bring another round of FICOtinis please!

9.4.2011: TU 805. EQ 815.