Reply
JMD
New Visitor
Posts: 4
Registered: ‎03-22-2007
0

FICO - question

The website says that 75% of all banks use FICO scoring.  Does this mean bank credit cards, mortagages, car loans, etc?  Or is there different scoring used for different types of credit?  I know my FICO score are 100+ points higher than other scoring.  I do not want to apply for credit without having at least a ballpark knowledge of what my score will be.
 
Thank you!
 
Regular Contributor
Posts: 169
Registered: ‎03-16-2007
0

Most lending (the 75 number) is based on some fico scores...

Most lending (the 75 number) is based on some fico scores. What you get on myfico are standard fico formula scores. What a lendor may use will still be a fico score, but likely a different industry customized formula (bank card, auto enhanced, etc). Your myfico scores are generally the best estimator you can have to the scores the lender will use.
 
Plus scores or the like are fairly useless as they won't be used by anyone (well other than yourself potentially).
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 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.

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.