How accurate is myfico?

[Anonymous]

This may have been asked before, but how accurate are the scores here on myfico? My EX and EQ score were way higher than expected, but my TU is the only one that is almost the exact same as the other websites I use. (5 different sites).

Are these the exact scores used by credit lenders? Or should I order another report to tell me that info?

My FICO Scores

EQ-694
TU-673
EX 696

Other sources (CK,CS,CC, Walmart, Discover)

EQ-637,689
TU-672,672,667,664,661
EX 657,654, 652

I am also on a trial with Credit Secure by AMEX, which I definitely know is not accurate because they list my scores in the 700's.

EX: 713
EQ: 713
TU: 708

[Anonymous]

The myfico scores are your live scores or better worded, what most lenders pull. Now there's different versions of it that may pull. I'm with you my TU fico 8 is pretty close to my other TU scores like on CK, Wallethub, Lendingtree to name a few but it's off by like 20 to 30 points...my EQ and EX Fico usually have a 40+ point difference than those other sites. Your Discover and Walmart scores are real scores.

CK and CS use what's called a national equivalency...so it's looking at factors that the Fico 8 isn't considering. Like my Fico 8's don't consider any account I'm AU on, it only tallies my individual debts owed.

Use the CK AND CS as away to monitor on a weekly basis any changes...Use your Fico alerts for immediate score changes and if you pulled your MyFico 3B you should have a lot of scores like Fico 4, Auto, Mortgage, all will be different scores.

[Anonymous]

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@tamaralig wrote:

The myfico scores are your live scores or better worded, what most lenders pull. Now there's different versions of it that may pull. I'm with you my TU fico 8 is pretty close to my other TU scores like on CK, Wallethub, Lendingtree to name a few but it's off by like 20 to 30 points...my EQ and EX Fico usually have a 40+ point difference than those other sites. Your Discover and Walmart scores are real scores.

CK and CS use what's called a national equivalency...so it's looking at factors that the Fico 8 isn't considering. Like my Fico 8's don't consider any account I'm AU on, it only tallies my individual debts owed.

Use the CK AND CS as away to monitor on a weekly basis any changes...Use your Fico alerts for immediate score changes and if you pulled your MyFico 3B you should have a lot of scores like Fico 4, Auto, Mortgage, all will be different scores.

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Thank you for this info! I am just realizing the Auto and Mortage scores. Nice

[SouthJamaica]

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@Anonymous wrote:

This may have been asked before, but how accurate are the scores here on myfico? My EX and EQ score were way higher than expected, but my TU is the only one that is almost the exact same as the other websites I use. (5 different sites).

Are these the exact scores used by credit lenders? Or should I order another report to tell me that info?

My FICO Scores

EQ-694
TU-673
EX 696

Other sources (CK,CS,CC, Walmart, Discover)

EQ-637,689
TU-672,672,667,664,661
EX 657,654, 652

I am also on a trial with Credit Secure by AMEX, which I definitely know is not accurate because they list my scores in the 700's.

EX: 713
EQ: 713
TU: 708

---

They're completely accurate. But they're not always up to date. It depends on what service you're purchasing, etc.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

This may have been asked before, but how accurate are the scores here on myfico? My EX and EQ score were way higher than expected, but my TU is the only one that is almost the exact same as the other websites I use. (5 different sites).

Are these the exact scores used by credit lenders? Or should I order another report to tell me that info?

My FICO Scores

EQ-694
TU-673
EX 696

Other sources (CK,CS,CC, Walmart, Discover)

EQ-637,689
TU-672,672,667,664,661
EX 657,654, 652

I am also on a trial with Credit Secure by AMEX, which I definitely know is not accurate because they list my scores in the 700's.

EX: 713
EQ: 713
TU: 708

---

They're completely accurate. But they're not always up to date. It depends on what service you're purchasing, etc.

---

oh ok. I purchased the the 3B version. Do the scores update on a daily basis as soon as something change? Or is it weekly/monthy, etc?

[Anonymous]

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@tamaralig wrote:

The myfico scores are your live scores or better worded, what most lenders pull. Now there's different versions of it that may pull. I'm with you my TU fico 8 is pretty close to my other TU scores like on CK, Wallethub, Lendingtree to name a few but it's off by like 20 to 30 points...my EQ and EX Fico usually have a 40+ point difference than those other sites. Your Discover and Walmart scores are real scores.

CK and CS use what's called a national equivalency...so it's looking at factors that the Fico 8 isn't considering. Like my Fico 8's don't consider any account I'm AU on, it only tallies my individual debts owed.

Use the CK AND CS as away to monitor on a weekly basis any changes...Use your Fico alerts for immediate score changes and if you pulled your MyFico 3B you should have a lot of scores like Fico 4, Auto, Mortgage, all will be different scores.

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CK and CS use Vantage 3.0. Credit.com uses the National Equivalency score.

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

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@Anonymous wrote:

This may have been asked before, but how accurate are the scores here on myfico? My EX and EQ score were way higher than expected, but my TU is the only one that is almost the exact same as the other websites I use. (5 different sites).

Are these the exact scores used by credit lenders? Or should I order another report to tell me that info?

My FICO Scores

EQ-694
TU-673
EX 696

Other sources (CK,CS,CC, Walmart, Discover)

EQ-637,689
TU-672,672,667,664,661
EX 657,654, 652

I am also on a trial with Credit Secure by AMEX, which I definitely know is not accurate because they list my scores in the 700's.

EX: 713
EQ: 713
TU: 708

---

They're completely accurate. But they're not always up to date. It depends on what service you're purchasing, etc.

---

oh ok. I purchased the the 3B version. Do the scores update on a daily basis as soon as something change? Or is it weekly/monthy, etc?

---

The FICO 8's update within a few days of real time.

The other score versions only update when you pull your 3B Report.

[cem13]

@pinkflowers 94

If you pay me $9.95 per month, answer a few questions, I will provide you the CEM version of your credit scores.

red or white wine?

draft or bottled beer?

domestic (GM & Ford) or import (Chrylser, BMW etc)?

do you trim your toe nails at least weekly?

do you own cat or dog?

My point is that there are several different "credit scores" out there.  The only score that is important is the score that your lender pulls.   A vast majority pull fico but there are several versions of fico.  Penfed uses there own ":hybrid" score.  You really cannot compare a CK 695 vs a myfico 704.  The algorythims are very complicated and several thousand lines of code, long.

I only look at myfico scores for my re-build after bk7.  

[Anonymous]

 Fico  scores tend to be what a lot of lenders for cc's look at.  Various loan types may look at a different version of fico.  Vantage scores use a different scoring method.  For example, if you have a closed account or loan, it no longer calculates in the scoring system.  Fico calculates a closed account in the AAoA for up to 10 years.  Vantage dumps any paid collections but fico still scores it as a collection even if paid.  If you are curious about the vantage scores, credit karma provides EQ and TU updates weekly.  Credit.com provides EX vantage scores and national equivalency updates twice a month.. 

Various credit cards provide monthly fico scores free.  Discover and Walmart provides TU; Amex and Chase provides Ex; Citi provides EQ.  These are updated once a month.  A myfico membership (which isn't free) updates at various times during the month as accounts update but there is a little lag time with certain updates. 

You will drive yourself nuts trying to monitor all those sites looking for current scores.  I like myfico and credit karma.  I only check the free scores associated with my cc's when I pay my bill.

Credit secure uses Experians plus score model which is totally useless.