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Valued Contributor
my-own-fico
Posts: 1,237
Registered: ‎01-05-2010
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?


GregB wrote:

I have known that Beacon 5.0 had a max of 818 for a long time. I would have noticed any post that I read that showed a score above that.

 

I have seen a few, and I always paid attention. It always turned out to be something that looked like it was an Industry Option or a non-FICO.



It would be interesting looking into the subtle distinction between evidence of absence and argument from ignorance, but for now the most compelling case may be someone who's near 818, say at 816, and still has room to improve that would normally produce a score increase of at least five points, someone who actually makes that improvement, and then we shall see!

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MarineVietVet
Posts: 14,240
Registered: ‎07-14-2009
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?


my-own-fico wrote:

It would be interesting looking into the subtle distinction between evidence of absence and argument from ignorance, but for now the most compelling case may be someone who's near 818, say at 816, and still has room to improve that would normally produce a score increase of at least five points, someone who actually makes that improvement, and then we shall see!

It's been almost a year since my EQ here was 816. I will probably pull it again in a few months so we'll see what happens.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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SWInterest
Posts: 2
Registered: ‎02-06-2012
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?

This is a great thread.  I have not visited this forum previously and found it when searching for how to get a free tri-merge report and/or all 3 scores free.  Now, I am wondering if it is even worth it to pay to get a myFICO score given the different scoring models used (98, 04, etc).   What do you all think...is it worth it to pay for a myFICO score, or just have a hard report pulled by a mortgage broker?

 

Background Info:   In early November 2010 both my wife's & my tri-merge FICO scores our mortgage broker oulled were over 800.  Our broker was astonished we had raised our scores so high and she stated she had never had a client where both scores were over 800.  However, because of the &*!%)! appraiser we decided in early December 2010 to not follow thru with our refi.  A few months later we went a different route and bought a older motorhome and borrowed against another (paid-off) vehicle....and then..the unthinkable happened..we let our guard down and before we realized it had used our 3 credit cards by June 2011, maxing out the small ($2.5k Credit Union MasterCard), maxing out the $4.5k Home Depot card, and going to a 53% of the limit on our Citibank Visa card.  And, then in mid-September 2011 Citibank decided to slash our limit to our balance owed, raising our credit utilization rate to 100%.  UGH...idiotic actions on our part...but, no worries..no need nor plans for another loan..until recently, as we are seriously considering once again to refi'ing the mortgage.  So, my search tonight for free scores... or to pay for myFICO once again..but, after reading this thread I am not so sure I want to pay myFICO.  Perhaps I should just go to the two lenders and have them both pull their reports / scores on the same day and take the hard hit...no credit pulled since June 2011...but, I am also thinking of waiting until we at least get the MasterCard and Hoe Depot back down to a 20% or less credit utilization rate....which probably will not occur until August or September 2012...the free credit score estimators state our scores will range from 640 - 690...which is about where I had thought they might be now...

 

 

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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?


SWInterest wrote:

This is a great thread.  I have not visited this forum previously and found it when searching for how to get a free tri-merge report and/or all 3 scores free.  Now, I am wondering if it is even worth it to pay to get a myFICO score given the different scoring models used (98, 04, etc).   What do you all think...is it worth it to pay for a myFICO score, or just have a hard report pulled by a mortgage broker?

 



Welcome!

 

IMO, it's worth it leading up to a mortgage pull or any other major credit pull -IF- you would want to know how you stand prior to that application. It is helpful to know your score and report content so you can take action to fix any problems in order to qualify. The FICO reports will specifically show what's hurting the most and show you which accounts are dinging your score.

 

Odds are, your lender will pull TU04 unlike the TU98 found here, though there are lenders that still pull the older version. EQ will highly likely match.

Valued Member
Berkster
Posts: 30
Registered: ‎05-03-2011
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?

I s there a web site for consumers to purchase these other models of FICO score?


llecs wrote:

SWInterest wrote:

This is a great thread.  I have not visited this forum previously and found it when searching for how to get a free tri-merge report and/or all 3 scores free.  Now, I am wondering if it is even worth it to pay to get a myFICO score given the different scoring models used (98, 04, etc).   What do you all think...is it worth it to pay for a myFICO score, or just have a hard report pulled by a mortgage broker?

 



Welcome!

 

IMO, it's worth it leading up to a mortgage pull or any other major credit pull -IF- you would want to know how you stand prior to that application. It is helpful to know your score and report content so you can take action to fix any problems in order to qualify. The FICO reports will specifically show what's hurting the most and show you which accounts are dinging your score.

 

Odds are, your lender will pull TU04 unlike the TU98 found here, though there are lenders that still pull the older version. EQ will highly likely match.



llecs wrote:

SWInterest wrote:

This is a great thread.  I have not visited this forum previously and found it when searching for how to get a free tri-merge report and/or all 3 scores free.  Now, I am wondering if it is even worth it to pay to get a myFICO score given the different scoring models used (98, 04, etc).   What do you all think...is it worth it to pay for a myFICO score, or just have a hard report pulled by a mortgage broker?

 



Welcome!

 

IMO, it's worth it leading up to a mortgage pull or any other major credit pull -IF- you would want to know how you stand prior to that application. It is helpful to know your score and report content so you can take action to fix any problems in order to qualify. The FICO reports will specifically show what's hurting the most and show you which accounts are dinging your score.

 

Odds are, your lender will pull TU04 unlike the TU98 found here, though there are lenders that still pull the older version. EQ will highly likely match.





Starting Score: TU 710 EQU 715 EXP 698
Current Score: TU 738 EQU 703 EXP ???
Goal Score: TU 750 EQU 750 EXP 750


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MarineVietVet
Posts: 14,240
Registered: ‎07-14-2009
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?


Berkster wrote:

I s there a web site for consumers to purchase these other models of FICO score?


I know of no other place to buy TU scores except here. At one time you could also purchase your Transunion score at transunioncs.com but no more. Wal Mart now offers a TU08 score to those who have their store card and the Discover version.

Equifax will still sell you a FICO score found here: www.equifax.com/web-myfico-products/

 

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

 

Valued Member
jonald11
Posts: 38
Registered: ‎02-29-2012
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?

If those figures are true, and I believe they are, then clearly Myfico Equifax is not selling the Beacon 5.0, which everyone here has claimed repeatedly is the case. The MyFico Equifax I just purchased has me at 788, with a scale up to 850.

 

And yet, this post says the max is 818. Both can't be correct.

 

And further, I've seen a lot of people making excuses here, especially in response to this post from Discover. Whatever the reason, if a lender is pulling an Equifax Beacon 5.0, and it isn't matching what is purchased on this site, then these scores are FAKO also, no matter how you slice it. The one advantage this site had is that when you buy a score, that is what lenders see. Now we know that is not the case, and it makes a difference.

 

In December, my lender pulled for an auto loan, and it listed my score as 811, Beacon 5.0 auto-enhanced. Now that is clearly a different model, and you'd expect changes. But not, as in this Discover example, 50 points purportedly from the same CA. If this post is accurate, then these Myfico are a nice indicator but, ultimately, just as worthless as the three Credit Secure and other fake scores. 

Regular Contributor
LLMT
Posts: 110
Registered: ‎04-29-2013
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Re: Myfico Equifax 797 Vs. Discover Equifax score 748?

My score difference is 59 pts with Discover's pull being higher.

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