Disparity among Myfico score purchase and my bank report of Trans score

[Anonymous]

Has anyone had such a huge difference in reported scores? I phoned my bank to refinance my auto loan today. As of two weeks ago I have not had any adjustments to my score report on MyFico. 659. Been there for over a month. My bank approved me for a better rate than I expected based on my Trans score of 693. Curiosity got me and I paid 16$ for the darn thing on MyFico. It shows even less. 643. I am baffled. Who do I trust with the correct score? Thats quite a difference.

[Junejer]

Do you have a copy of the bank's version? My guess is that they are using Classic '04 and myfico uses Classic '98. My classic '04 has been 30 points higher than my '98 score on two different occasions.

[llecs]

I bet $5 that the 693 score was an auto-enhanced score tailored to the auto lending industry. These scores are more weighted to your past auto credit history.

If not that, and assuming it is a traditional FICO score, then there could be a difference in the version of score used. This site uses TU'98 as do a majority of lenders. Some use TU'04 which traditionally is lower for most. Just about a month or two ago, TU'08 was introduced which would also produce differnet scores.

It may be worth asking your lender what score that are using and if FICO, which version is being used.

Once again, Byrdman typed faster than I.

Message Edited by llecs on 03-02-2009 01:04 PM

[Junejer]

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llecs wrote:
I bet $5 that the 693 score was an auto-enhanced score tailored to the auto lending industry. These scores are more weighted to your past auto credit history.

If not that, and assuming it is a traditional FICO score, then there could be a difference in the version of score used. This site uses TU'98 as do a majority of lenders. Some use TU'04 which traditionally is lower for most. Just about a month or two ago, TU'08 was introduced which would also produce differnet scores.

It may be worth asking your lender what score that are using and if FICO, which version is being used.

Once again, Byrdman typed faster than I.

Message Edited by llecs on 03-02-2009 01:04 PM

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I'll take you up on that bet.  She did say her bank.   My money is on the '04 vs. '98.

OP can you call your banker and ask what version of TU they pulled?

[cobaltnv]

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@Anonymous wrote:

 Curiosity got me and I paid 16$ for the darn thing on MyFico. 

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Ball97: I would add one additional piece of information. Google "myfico discount code" before purchasing anything here you can save 10-25% depending on what is available.

Cheers 

[Junejer]

Good add Cobalt. I usually suggest that, but since she already bought...well, you know, water under the bridge and all that.

[Anonymous]

It seems to me that TU 04 would score higher on the average than TU 98.  The market was better in 04 than 98.  The 04 score was meant to boost business.  Whatch out for that 08...ouch!!!