Reply
34
New Member
34
Posts: 3
Registered: ‎08-05-2012
0

Re: Interpreting Your FICO Score

my equifax score is 675 my transunion is 736.. is my score averaged out? or is the lowes fico score used?

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Interpreting Your FICO Score


34 wrote:

my equifax score is 675 my transunion is 736.. is my score averaged out? or is the lowes fico score used?


Per a mortgage loan? If yes, your lender will pull all 3 FICOs (not just the two) and take the middle score as opposed to an average and use that mid score as a basis for the rate, PMI, etc.. If applying with a spouse, then the lender will take the lower of the two mid scores and use that.

 

If for anything else like a car, CC, etc., most will only pull one report and look at one score. There are some that look at 2 or 3 as well.

34
New Member
34
Posts: 3
Registered: ‎08-05-2012
0

Re: Interpreting Your FICO Score

thanks alot..my experian score is the highest one..but i thought it was rarely used..so 746 736 675  .they just use the middle one instead of just averaging them out..   thanks again 

New Member
sailgirl123
Posts: 3
Registered: ‎04-29-2012
0

Re: Interpreting Your FICO Score

I am so angry.  I just received a score alert from myRico.  They said my score had risen to 719 . However, I just pulled all 3 credit scores and I had a666' a646 and a 646. Can anyone explain this to me?  I feel like I should quit mFIFO and just pull my credit score every 3 months to know the true score. Please feel free to comment.  I am not convinced that myfico Is a benefit to me when the score they report is not correct.  Help!!

Regular Contributor
Dishpro
Posts: 118
Registered: ‎06-10-2012
0

Re: Interpreting Your FICO Score

All the scores you pull are real credit scores. However, FICO scores are what most lenders use to evaluate the risk involved in lending you money. They all use different scoring models. So comparing other scoring sources to the FICO scoring model won't do anything for you but upset you. Just go by the FICO scores for the real picture.
 

Starting Score:
585
Current Score: FICO TU 725 FICO EQ 735 EX 754
Goal Score: 850


Take the FICO Fitness Challenge
New Visitor
Larry63
Posts: 1
Registered: ‎08-22-2012
0

Re: Interpreting Your FICO Score

My Fico score is 748. I'm employed, with ample savings. When I apply for a cc, I'm denied. I took out and paid 2 small loans in the past 24 months. My understanding is a score over 700 is very good. I'm lost....

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Interpreting Your FICO Score

Is the 748 a FICO? DO you have any CC open now? Do you have any open accounts reporting?

Established Contributor
jamie123
Posts: 906
Registered: ‎03-22-2012
0

Re: Interpreting Your FICO Score


Larry63 wrote:

My Fico score is 748. I'm employed, with ample savings. When I apply for a cc, I'm denied. I took out and paid 2 small loans in the past 24 months. My understanding is a score over 700 is very good. I'm lost....


Credit card companies are a bit quirky about this. They don't want to be the first one to lend you money no matter what your score. You could have your house paid for and 1 million dollars sitting in your savings account but you will still have a hard time getting that first credit card. The lenders want to see a history (6 months to 1 year) of good credit behavior before issuing one of their prime cards. You probably just applied for the wrong type of card.

 

I'll help you get that card!

 

What card did you apply for?

 



Starting Score: EQ 658 6/18/12
Current Score: EQ 690 11/17/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge

Established Member
rjohson
Posts: 11
Registered: ‎06-14-2012
0

Re: Interpreting Your FICO Score

thanks this was very helful and very funny


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}