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FICO - question

JMD
New Member

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!
 
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Regular Contributor

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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