05-22-2013 06:08 PM
What is the difference between the score I get direct from Transunion and the score myFICO gets from Transunion if I pay myFICO for this service? I am new here and have read in a couple different places that if I get a score from Transunion that it is not the real score. Again, how can it be any different and where is the proof?
05-22-2013 07:16 PM
The score offered by TransUnion is a FAKO called a VantageScore. The score offered on myFICO is a FICO score. VantageScore has a score range of 501-990 vs. FICO's 300-850. VantageScore factors in stuff that FICO does not and vice-versa. Per lenders, a vast majority of lenders use FICO. A teeny tiny minority do sometimes use VantageScore. Per versions used, I am unsure about Vantage. I suspect that the VantageScore lenders use differs from the VantageScore available via creditkarma.com, TransUnion.com, and a couple of other places because there's a newer VantageScore version out there. For FICO, the Tu98 FICO version on here is used by a minority of lenders and most lenders use a newer version of TU FICO.
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