Understanding FICO® Scoring

[shorttough]

would the score be the same? as i plan on pulling mine on FEB 1st.  would like a consensus among members who already went though this process.

[llecs]

My EQ FICO exactly matched when pulled hours apart. Virtually all use the same Beacon 5.0 FICO.

[JM-AM]

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llecs wrote:

My EQ FICO exactly matched when pulled hours apart. Virtually all use the same Beacon 5.0 FICO.

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+1

Equifax from MYFICO is the only score that you can consider to match.

[shorttough]

Just got the number for Beacon 5.0.. its 733 vs 736. 3 point discrepancy.

and got an alert after 1 day of pulling the report.. which shows 738 as a result of the inquiry.

[GregB]

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shorttough wrote:

Just got the number for Beacon 5.0.. its 733 vs 736. 3 point discrepancy.

and got an alert after 1 day of pulling the report.. which shows 738 as a result of the inquiry.

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There will be NO discrepancy. Beacon v5.0 will be the same with the same data as it is the SAME SCORE. I'm assuming that you didn't pull a report from here on the same day so your score was not what you thought it was. Scorepower does not stay updated although it updates each time an alert is triggered.

[JM-AM]

Just to add has to be same day and same time retrospectively if you want a true comparison.

[bobebob]

I didn't pull a full report on the same day my lender did.  But my score has been stable for the past month or so and the Lender score was identical to what SW has been showing me.  I was pleasantly surprised that the two inquiries I got associated with my loan app didn't even affect my score.

[JM-AM]

INQ dont always impact your scores.

As an example (points numbers are meaningless in this example)

1 INQ = 5 points
1-3 INQ = 8 points
3-5 INQ = 10 points

Having the INQ's on your reports still has impact with Lender decisions even though no points were an impact on your score.

Another example.

Mortgage loans. You can rate shop for mortgage rates in a specified period of time where it will only impact you scores as 1 INQ if it impacts your scores at all. But when you apply for new or additional credit those INQ will be seen and can be cause for denial.

[bobebob]

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JM-AM wrote:
INQ dont always impact your scores.

.  .  .  .  .

Mortgage loans. You can rate shop for mortgage rates in a specified period of time where it will only impact you scores as 1 INQ if it impacts your scores at all. But when you apply for new or additional credit those INQ will be seen and can be cause for denial.

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True, but I was surprised that even the first inq for my refi didn't drop any pts.

[JM-AM]

Nothing surprises me any longer with scores. Just when we think we have an idea something happens and changes. Lol

Guess thats why we all discuss things based on our experiences and why we always say YMMV.