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fic
New Member
fic
Posts: 5
Registered: ‎03-22-2014
0

Equifax score

Hello,

 

What model does MyFico is currently using to calculate Equifax score? Is it Beacon 5.0? 

 

I greatly appreciat a response. 

Regular Contributor
jesseh
Posts: 115
Registered: ‎03-06-2014
0

Re: Equifax score

Yup, it is

ADFCU $500 securedSDFCU $250 secured
Started April '14, no scores generated yet
Strategy: unsecure cards when possible, get 5k CL's, apply for prime cards (eg merrill+)
fic
New Member
fic
Posts: 5
Registered: ‎03-22-2014
0

Re: Equifax score

Thank you so much for your response. By any chance do you also know what other two models myFiCO is using to calculate experian and transunion. 

 

Thanks!

Community Leader
Valued Contributor
user5387
Posts: 1,794
Registered: ‎07-01-2010
0

Re: Equifax score

EX 08

 

EQ 04

 

TU 98

 

Regular Contributor
jesseh
Posts: 115
Registered: ‎03-06-2014
0

Re: Equifax score

You should check this post

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-version...

 

It may be a little outdated.

ADFCU $500 securedSDFCU $250 secured
Started April '14, no scores generated yet
Strategy: unsecure cards when possible, get 5k CL's, apply for prime cards (eg merrill+)
Moderator
Revelate
Posts: 9,486
Registered: ‎12-30-2011
0

Re: Equifax score

[ Edited ]

jesseh wrote:

You should check this post

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-version...

 

It may be a little outdated.


Hrm it is indeed outdated.  Think there's a more updated version somewhere that one of our members was working on, ah:

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Difference-in-Scores/td-p/2384297/page/4

 

We should likely use that information to update the thread you have linked as it could be fleshed out more especially with regards to what can be found where by consumers.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Regular Contributor
oilcan12
Posts: 225
Registered: ‎01-01-2014
0

Re: Equifax score


fic wrote:

Hello,

 

What model does MyFico is currently using to calculate Equifax score? Is it Beacon 5.0? 

 

I greatly appreciat a response. 


Myfico is no longer using Beacon 5.0. A CSR confirmed that a 'newer' Equifax scoring model has recently been adopted by Myfico. He would not say which scoring model is now in use. I could not get a straight answer by email either. One guess is that it is Beacon 09 (Equifax 08).

fic
New Member
fic
Posts: 5
Registered: ‎03-22-2014
0

Re: Equifax score

Thank y'all for checking! They are very secretively about what model they use...which makes the service not as usufull, since most lenders use older models. 

Moderator
Revelate
Posts: 9,486
Registered: ‎12-30-2011
0

Re: Equifax score


fic wrote:

Thank y'all for checking! They are very secretively about what model they use...which makes the service not as usufull, since most lenders use older models. 


Not certain how anyone can state that conclusively; for mortgage, yes older models are used, but it appears as though more and more credit card approvals are on the newer '08 versions (Amex, possibly BOFA from user reports, likely others).  Auto Enhanced is sadly anyone's guess.

 

Speaking as a member of the forum this should've been better communicated, but as a moderator I have the understanding that there will be an announcement.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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