Understanding FICO® Scoring

[Freakshow77]

My fico.com says my equfax is 597 I just bought a new car and the dealer showed me my credit report and fico score. The fico they have says equfax is 605. Any one else run into that?

[dianna98]

I have seen on these pages ppl discussing an auto enhanced number?? Could this be it? I'm not sure of the exact term that was used.

[jsucool76]

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dianna98 wrote:
I have seen on these pages ppl discussing an auto enhanced number?? Could this be it? I'm not sure of the exact term that was used.

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+1 to this

It is very possible that was an auto enhanced score, or a different version of FICO scoring. It is also possible that (if you pulled from myfico after the dealer) that they did a HP for the score and your score dropped a couple points. 

Edit: After re-reading the OP, if you took out an auto loan, this would add a new account to your CR which means a lowering of your AAoA (Average Age of Accounts) which would also contribute to lowering you score. 

[Freakshow77]

No myfico has been reporting my score as 597 for the last month. I went yesterday and bought a new car. The dealer showed me my score was 605 with equifax.
Then today I got the alert for the inquiry they made and myfico said my score is still 597. Didn't change.
So which is it I should think the 605 that the dealer pulled? That means myfico is not correct

[llecs]

Ditto to the above. Auto-enhanced.

You could say that the EQ FICO from myFICO isn't accurate, in relation to your lender's pull. However, if you applied for a mortgage tomorrow and it matches your EQ FICO from myFICO, does that mean your mortgage lender and myFICO are still wrong?

[Shogun]

+1  Auto enhanced score.  Keep in mind there are more than one FICO algorithm that they use in calculating scores.

[Freakshow77]

Same with my wife. We both use myfico. Myfico is reporting her score as 629 the dealer pulled it to be a 634. I mean they were all very close within ten points. I'm just saying its not exact.

[GregB]

The EQ FICO here is the Classic Version of FICO 04 AKA Beacon 5.0. This is the most important FICO of all the EQ FICOs because it is the exact version used for a mortgage.

The car dealer could have pulled the Auto Industry version of FICO 04. Also could have pulled the Classic version of FICO 8 or the Auto Industry version or FICO 08.

Also, a difference of 597 to 605 is almost no difference, just 7 points.

[apandabear]

The FICO you get here is accurate. But there are different versions of each FICO score.

The auto-enhanced FICO is based on your FICO score, but weighs certain types of things a little differently (vehicle loans/leases, probably long-term installment loans). You can't even get your auto-enhanced FICO on your own, a lender has to pull that for you. 

I wouldn't fret over a difference of a couple points.

[creditnocash]

its for sure auto enhancend. 

which obviously is good for you since it shows higher. 

i pulled my reports the day i went for my car. 

they were 689(tu) and 690(eq)

when he pulled tu it was 708. i got a alert that two inquries were made. one for the dealer and one for their financer. 

it got me into top tier financing so i wasnt mad. 

if it was lower i would of printed out reports from here and showing him that they were higher and sometimes they would take that as proof.