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Valued Member
Posts: 33
Registered: ‎05-10-2010
0

Re: Equifax FICO and Equifax Score

Thanks, I fixed my EQ EX typos. 

 

Also, the day that this happened I pulled that a report and looked at it and looked at one I had pulled a few months before to compare.  The status of the car loan had been "paid as agreed" and showed the one late payment back in March of 2009 in the transaction history.  When I paid it off, it changed my status from paid as agreed to 30 days past due.... when you look at the transaction history you see that the only past due is back in 2009.  I called the company, they said that is not how they show it.  The other bureaus have "paid, closed, WAS 30 days past due" and those scores remained well into the 700's.  Only myFICO seemed to be impacted negatively by me paying off this car loan and it was a big hit.

 

Everything else is the same or better (lower balances) between the 2 reports... it really had to be this. 

 

Over the weekend, I got an alert that my score "went up" to 687.... so it is still low...

 

I don't know what to do... I am thinking of calling one of those credit counseling people to see if they know how to get it straigtened out. 


Starting Score: EQ 740, EX 792 (lender pull), TU 772 (lender pull)
Current Score: EQ 767, EX 792 (lender pull), TU 772 (lender pull)
Goal Score: 2 over 760 and one over 800--still looking to get one over 800!


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New Contributor
Posts: 163
Registered: ‎10-18-2012
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Re: Equifax FICO and Equifax Score

If I pulled my Equifax score from equifax.com, does this mean that score is my FICO score?

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
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Valued Member
Posts: 33
Registered: ‎05-10-2010
0

Re: Equifax FICO and Equifax Score

It depends.  Equifax.com offers their Equifax score and a FICO Equifax score... do you know which one you purchased?  In my case, my Equifax score is much higher than my FICO equifax score.  790 vs. 741.  The 790 is the Equifax score and a consumer education score or what people on this board refer to as a FAKO score.  It is not what the lenders use.  For that, you will need to look at your FICO score.

 

 


Starting Score: EQ 740, EX 792 (lender pull), TU 772 (lender pull)
Current Score: EQ 767, EX 792 (lender pull), TU 772 (lender pull)
Goal Score: 2 over 760 and one over 800--still looking to get one over 800!


Take the myFICO Fitness Challenge

New Contributor
Posts: 163
Registered: ‎10-18-2012
0

Re: Equifax FICO and Equifax Score

Wait, I think I actually got my Equifax Score from ScoreWatch when I did the 10 day trial.  Is that FICO?

09/2013: TU FICO 692, EQ FICO 698, EX PLUS 709. No apps until December 2014!
Freedom: $1500 Cap1 Plat: $2000 Cap1 Cash: $1500 Barclays: $4000 Walmart: $2700 GE Luxury: $4800 Jared: $1500 Davids Bridal: $1500
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Equifax FICO and Equifax Score

Yes.

Moderator
Posts: 13,871
Registered: ‎04-15-2011
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Re: Equifax FICO and Equifax Score

That is an actual FICO score.  Now, you have to remember there are many different types of scores out there.

 

First off there are what we term as FAKOS.  There are ones you get from the websites promoting credit scores that can be found all over the web.  Most if not all of these are absolutely worthless.  No lenders use these scores and they could be way off from the scores the lenders are using.  Even the big 3 CRAs, EQ, TU and EX sell FAKOS on their websites.

 

FICO as they post on the welcome page to myFICO, supplies credit scores to 90 of the top 100 largest financial institutions.  Now with that being said, you don't just have one FICO score.  There are different models available out there.  TU supplies a FICO 98, FICO 04 and FICO 08.  It is up to the lender as to which one they use.  There are also auto enhanced, mortgage enhance and CC enhanced models that focus on particular areas of credit.

 

Vantage scores are a scoring system that the big 3 CRAs have come up on their own.  There are actually a few lenders that use these, but it's never gotten very popular.

 

There are proprietary scores that some lenders use.  This can be a combination of your FICO score and their own algorithm thrown together to come up with a score or they can just use their own system to determine whether credit will be lended or not.

 

As you can see, it is very confusing, it is meant to be confusing.  If we knew how everything worked, we could work it to our benefit.  The lenders still feel like they need an edge.  So don't get too consumed by scores.  My philosophy is to keep my report clean, only get credit when I need it and keep a nice healthy stable of revolving credit that I can PIF each month.  

 

So, that's my take on the whole situation.   Good Luck!

 



Starting Score: 504




July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
New Visitor
Posts: 1
Registered: ‎11-04-2012
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Re: Equifax FICO and Equifax Score

 
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Equifax FICO and Equifax Score

Hi Greysteel21, I noticed you seem to be having some trouble posting. It is possible to edit your own post if you have posted an incomplete message. To edit your post, go to the post. To the right you'll see "Options." Click on "Options" and select "Edit Message" from the drop-down menu. If you have accidentally posted a duplicate message, you can use the “Report Abuse to a Moderator” link to asking the moderation team to remove one for you. To find this link, go to the duplicate post, click on "Options," then select "Report Abuse to a Moderator" from the drop-down menu. If you need any help with anything, let me know. Thanks for your contribution to the FICO Forums!

Valued Contributor
Posts: 1,465
Registered: ‎08-30-2011
0

Re: Equifax FICO and Equifax Score

Similar situation here.  Got a letter in the mail yesterday from a lender pull, shows my EQ score of 803;  ScoreWatch alert here this morning shows a 767, which is an increase from the 749 that it was yesterday.  Go figure!

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EX = 818 EQ = 822 TU = 830 - 01/2015
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