@Vulcan1600 wrote:I just got my monthly PSECU Experian score. Apparently it's not a true FICO 8 score, as it said as of May 31, it was 750 (which was a drop from prior month of 763). Funny thing is, my true FICO score for EX has gone from 786 to 791 from May 1 through June 2. It held steady at 786 the entire month of May and June 2 it bumped to 791. Just curious and now I also realize I can't depend on that as a real score from PSECU.
Um, PSECU I would suggest is one of the two gold standards in the market 
It offers Experian FICO Risk Model v2, or EX 98 in our nomenclature, which is one of the mortgage trifecta (scores found on the typical merge pull). I wish I'd found this forum earlier so I could've picked up an account there just for this reason... knowing my mortgage scores is infinitely more appealing to me than FICO 8 personally. Not going to lose any sleep if my score comes up awkward on a credit card application; however, I might if it dashed my home goals as the result of a mortgage app.
My opinion re: "true score" - the only one that counts is the one the lender pulls.
@Revelate wrote:
@Vulcan1600 wrote:I just got my monthly PSECU Experian score. Apparently it's not a true FICO 8 score, as it said as of May 31, it was 750 (which was a drop from prior month of 763). Funny thing is, my true FICO score for EX has gone from 786 to 791 from May 1 through June 2. It held steady at 786 the entire month of May and June 2 it bumped to 791. Just curious and now I also realize I can't depend on that as a real score from PSECU.
Um, PSECU I would suggest is one of the two gold standards in the market
It offers Experian FICO Risk Model v2, or EX 98 in our nomenclature, which is one of the mortgage trifecta (scores found on the typical merge pull). I wish I'd found this forum earlier so I could've picked up an account there just for this reason... knowing my mortgage scores is infinitely more appealing to me than FICO 8 personally. Not going to lose any sleep if my score comes up awkward on a credit card application; however, I might if it dashed my home goals as the result of a mortgage app.
My opinion re: "true score" - the only one that counts is the one the lender pulls.
Great information. I didn't realize PSECU was one of the gold standards of the market. What is the other one?
So, basically, each month I should look at my PSECU score as being what it would be if I'd be applying for a mortgage or refinance? Also good to know really, although we have no plans to refi our mortgage any time soon. Not sure why the PSECU went down from last month looking at it from a "mortgage" perspective.
@Vulcan1600 wrote:
@Revelate wrote:
@Vulcan1600 wrote:I just got my monthly PSECU Experian score. Apparently it's not a true FICO 8 score, as it said as of May 31, it was 750 (which was a drop from prior month of 763). Funny thing is, my true FICO score for EX has gone from 786 to 791 from May 1 through June 2. It held steady at 786 the entire month of May and June 2 it bumped to 791. Just curious and now I also realize I can't depend on that as a real score from PSECU.
Um, PSECU I would suggest is one of the two gold standards in the market
It offers Experian FICO Risk Model v2, or EX 98 in our nomenclature, which is one of the mortgage trifecta (scores found on the typical merge pull). I wish I'd found this forum earlier so I could've picked up an account there just for this reason... knowing my mortgage scores is infinitely more appealing to me than FICO 8 personally. Not going to lose any sleep if my score comes up awkward on a credit card application; however, I might if it dashed my home goals as the result of a mortgage app.
My opinion re: "true score" - the only one that counts is the one the lender pulls.
Great information. I didn't realize PSECU was one of the gold standards of the market. What is the other one?
So, basically, each month I should look at my PSECU score as being what it would be if I'd be applying for a mortgage or refinance? Also good to know really, although we have no plans to refi our mortgage any time soon. Not sure why the PSECU went down from last month looking at it from a "mortgage" perspective.
DCU offers up EQ Beacon 5.0 which is the Equifax tri-merge score. Since I put mortgages way ahead of everything else financially, I personally use a mortgage score for my benchmark... though turns out my EX 98 was my mid score and I'm still ecstatic about that one hah.
Pretty much the entire mortgage universe underwrites on these scores, some portfolio lenders not withstanding but you have to go actively looking for one of those and most people sort into a FHA, conventional Agency, USDA or VA loan anyway and the likelihood of those scores being used there is effectively indistinguishable from 100%. Jumbo space on the premise the lender does the aforementioned Agency loans too, likewise effectively unity.
Don't sweat the instant in time stuff, we'll get small ups and downs regularly which even happens with my file and mine is absurdly flatlined most times... when it's application time for anything serious is the only time I really clean up my reports unless testing something. I sort of doubt given your file you're below the magic 760 score at PSECU anyway .