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Myfico FICO 772 vs BarclayCard FICO 795 ?

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mrgoattoo
New Contributor

Myfico FICO 772 vs BarclayCard FICO 795 ?

Myfico FICO 772 vs BarclayCard FICO 795 ?

 

Curious difference between my FICO scores. I figure its just the way the numbers being checked.

An ideas why there would be nearly a 20 point spread between two FICO scores?

 

Both are TransUnion scores..

TU FICO average 819
Message 1 of 11
10 REPLIES 10
09Lexie
Moderator Emerita

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

Myfico sells version Tu98 and Barclays is the newer version TU08

Message 2 of 11
mrgoattoo
New Contributor

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

Is either one better than the other?

Which one would creditors use most?

TU FICO average 819
Message 3 of 11
Revelate
Moderator Emeritus

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?


@mrgoattoo wrote:

Is either one better than the other?

Which one would creditors use most?


In my opinion TU08 is closer to what creditors use than TU98.  '98 possibly still has a few lenders which still use it but as time goes on that'll go to zero and it's already trending that way.




        
Message 4 of 11
mrgoattoo
New Contributor

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

I wonder why this site is using a version thats becoming obsolete?

Its still worth the $5 a month service we get because of those weekly updates that have let me know when something changed....not to mention a TU credit report every quarter...but cant this site change over to the 08 or is it a cost issue or something?

TU FICO average 819
Message 5 of 11
guiness56
Epic Contributor

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?


@mrgoattoo wrote:

I wonder why this site is using a version thats becoming obsolete?

Its still worth the $5 a month service we get because of those weekly updates that have let me know when something changed....not to mention a TU credit report every quarter...but cant this site change over to the 08 or is it a cost issue or something?


myFICO is only allowed to sell what the CRAs says we can.

Message 6 of 11
jspring86
Established Member

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

To add to this, my score has a huge discrepancy between the Barclay FICO and Myfico version.  Myfico says my Transunion score is 686 while Barclays says 736.  That makes a significant difference in which is more correct when looking at possible app approvals.  I didn't realize there could be a 50 point discrepancy between the two, that is a bit of a shame.  



Cards: AMEX BCE-$2K, BOA 1-2-3-$2K, Barclays Arrival-$4K, Discover IT-$4K. Gardening until at least July 2014!
Message 7 of 11
user5387
Valued Contributor

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

Beyond the possible different scoring models, there may be a time lag issue.

 

For example, my TU score reported on Discover is calculated around a week before the statement date.

 

Message 8 of 11
Revelate
Moderator Emeritus

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?


@jspring86 wrote:

To add to this, my score has a huge discrepancy between the Barclay FICO and Myfico version.  Myfico says my Transunion score is 686 while Barclays says 736.  That makes a significant difference in which is more correct when looking at possible app approvals.  I didn't realize there could be a 50 point discrepancy between the two, that is a bit of a shame.  


It's 10 years newer, and a lot of things changed from a risk analysis perspective between '98 and '08.

 

Personally I think the '08 scores are more reliable for everything other than a mortgage where it's a tossup between the two as a TU'04 score is awfully hard to come by without applying for a mortgage.




        
Message 9 of 11
Tricky3
Valued Member

Re: Myfico FICO 772 vs BarclayCard FICO 795 ?

Ok, I just stumbled on my Barclaycard FICO score option and at first I thought it was a fake, cause it tells me I have a 731.  But now I know its the up to date TU08 scoring system and myFICO is using a older (obsolete) model.  While I understand the responce "myFICO is only allowed to sell what the CRAs says we can" I find it a bit shady that during the "buying" process that myFICO is not telling you this information!

 

My TU score has always hovered around 690, where as EQ 701 and EX 738.  Its been killing me that my TU has never reached above 700.  Having a BK from 2006 I am always checking (paying) for my scores here at myFICO.  Now I feel gypped :-(  

 

I swear the whole credit score system is a scam!  Anyways, nice to know I now have 700+ scores across the board with my BK - its been a long hard road.  Thanks for nothing myFICO :-p

Message 10 of 11
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