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New Member
Posts: 4
Registered: ‎03-22-2007
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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
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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).

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‡ 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.

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