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Fico Score Confusion

Valued Member

Fico Score Confusion

Ok so I just did a pre qualify on Prosper just to see if my score updated and it says as of march 15 your fico 08 score is 740 but on myfico app it still says 706 my question is if I apply for credit which score would they get?

4 REPLIES
Valued Contributor

Re: Fico Score Confusion


DUCTAPER77 wrote:

Ok so I just did a pre qualify on Prosper just to see if my score updated and it says as of march 15 your fico 08 score is 740 but on myfico app it still says 706 my question is if I apply for credit which score would they get?


I would not be surprised if that 740 was a fico bankcard 08 score, which would explain it being slightly higher.




TU fico08=820 11/10/17
EX fico08=812 10/25/17
EQ fico08=818 10/25/17
Garden since 4/5/2017
Valued Member

Re: Fico Score Confusion

No its just regular fico 08 because 2 days ago it was 706 just like the myfico app

Valued Contributor

Re: Fico Score Confusion

It's possible that it might take a day or two for myFICO to catch up.

Highlighted
Senior Contributor

Re: Fico Score Confusion

Only a couple of possibilities here.

 

1 - Different scoring models are being used.  You already said this isn't the case, though.

2 - The scores may be using the same scoring model, but are using data from different bureaus.

3 - The scores were generated at a different time.

 

I'd go with #3 here.  While a source may give a score today, it could have been generated at an earlier time.  Take Discover for example.  They typically update my score on the 3rd or 4th of the month.  That score however is usually generated on about the 27th of the previous month, so roughly a week earlier.  If something significant changes in that week and I pull my scores on the 4th (the day I see my new score from Discover) from CCT, my CCT score may be quite different.  My mortgage company also always seems about a month behind, even though it dates the score for the current month it always to me looks like the score is from the previous month as I've had major scoring changes happen and the FICO 08 score I get from them always takes an extra month to change.