Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 542
Registered: ‎11-24-2016
0

Do credit union cards score less on FICO?

I saw some posts suggesting cc from CU count less than cc from big banks. I couldn't find anything on Google about it.


Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-719,Eq08-722,Tu08-717
Goal Score: Ex08-760,Eq08-760,Tu08-760


Take the myFICO Fitness Challenge
Senior Contributor
Posts: 5,577
Registered: ‎04-11-2016
0

Re: Do credit union cards score less on FICO?

FICO algorithms do not differentiate between the different types of revolvers.  CU, big bank, store card, etc. There was another thread on here recently comparing store cards to bank cards in terms of whether or not one hurt more if it was maxed out compared to the other.  They are all viewed exactly the same though.

 

I think another common misconception is that the larger the credit limit, the "more" that account is factored into scoring.  For example, one may have a $300 card and a $3000 card (or a $30,000 card for that matter).  Yes, maxing out the higher credit limit card will raise aggregate utilization... but in terms of a single maxed out trade line FICO scores a $300 card the same way it would score a high limit card.  I know that's off topic, but just something for others to consider that may not realize this.

Super Contributor
Posts: 5,777
Registered: ‎02-24-2015
0

Re: Do credit union cards score less on FICO?


Subexistence wrote:

I saw some posts suggesting cc from CU count less than cc from big banks. I couldn't find anything on Google about it.


No, it's just as good as a bank.


FICO8 EQ 780 TU 762 EX 784 FICO5 EQ 722 Total revolving 410500

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† 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.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

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.