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My Fico vs. True Credit

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teekid
New Member

My Fico vs. True Credit

I recently pulled my credit reports from Truecredit and MyFico. After a quick glance it seems that my scores on Truecredit are about 20-40 points lower, is this normal? TMM
Message 1 of 9
8 REPLIES 8
WhirledPeasPlease
Moderator Emeritus

Re: My Fico vs. True Credit

Please read Credit Scoring 101 on the main page of this forum.  You'll find the information about FICOS vs FAKOS.
 
Welcome to the fora!
~*~*~*~*~*~*~*~*~*~*~
From 700 in 2008 to 498 in 2012...
4/23/12 -- BK 13 date of filing EQ = 505
4/18/12 -- EQ 498
12/5/13 -- EQ 669
Here we go.... back on track.
Message 2 of 9
smoothjk
Contributor

Re: My Fico vs. True Credit

I've found that True Credit gets in the ballpark figure, but they're still not accurate enough to be dependable. It just gives you an idea, and the reports are useful.

FICO scores are the only ones to care about.
FICO (06/17/08): TU 691 - EQ 642 - EX 638 - Util 64%
FICO (07/23/08): TU 698 - EQ 653 - EX 644 - Util 50%
FICO (02/04/09): TU 694 - EQ 668 - EX 654 - Util 43%
FICO (05/18/09): TU 687 - EQ 675 - EX n/a - Util 39%
FICO (03/09/10): TU 666 - EQ: 691 - EX 644 - Util 54%
IDGuard (2/8/12): TU 690 - EQ: 710 - EX 710 - Util 72%
FICO (03/13/12): EQ: 696 (87% revolving to limits)
Message 3 of 9
Anonymous
Not applicable

Re: My Fico vs. True Credit

My score is off by 1 point with truecredit at 573. fico 574
Message 4 of 9
Anonymous
Not applicable

Re: My Fico vs. True Credit

Mine is way off my True credit number is 570 and my Fico number is 610. Quite a major difference.
Message 5 of 9
Anonymous
Not applicable

Re: My Fico vs. True Credit

TC doesn't seem to factor in UTL with me. If all your accounts are $0 balance then it could give a ball park, but if you carry debt it's totally different and can not even compare. TrueCredit uses a score formula called TransRisk. No lenders uses it that I am aware of.

Message Edited by ilovepizza on 08-08-2008 06:14 PM
Message 6 of 9
Anonymous
Not applicable

Re: My Fico vs. True Credit

Mine is WAY off! My TrueCredit scores for Equifax and Experian fluctuate way too much just about every week, or so. What bothers me most is the tremendous difference. Last week, my TrueCredit Equifax score was in the 600's, and just today, it went down to 598 with absolutely no changes to my account. However, Equifax's actual FICO score is 650. That is a tremendous difference. I honestly do not know how/why it's legal for them to post such scores. The scores are way off and are in no way an accurate guide...
Message 7 of 9
dilligaf_racing
New Contributor

Re: My Fico vs. True Credit

Just pulled my TC scores and they are way above MYFICO. All are about 35 points higher on TC. Im assuming the MYFICO scores are the real deal...I hope
Fico's TU 613, EQ591, EX615
10-3-08
Message 8 of 9
Anonymous
Not applicable

Re: My Fico vs. True Credit

The bottom line is that the TrueCredit scores use a formula that's different enough from FICO that you can't equate TC scores with FICO. It's not even a Fahrenheit-versus-Celsius sort of scenario where you can convert from one scale to the other.

I think the only value TC scores have is as a "canary in the coal mine." In other words, if your TC score drops 22 points one day, you probably want to take a look at your credit report and make sure something didn't change. Likewise, if your TC scores rise 20 or 30 points in a couple months, your FICO scores probably also went up, although maybe by more or fewer points. Or maybe not at all...I have read of cases where changes to one score didn't affect the other, or (more rarely) one score rising while the other actually falls.

In both systems, fluctuations in the single digits of points can occur for no visible reason at all.
Message 9 of 9
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