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Scoring Accuracy

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doc101
Regular Contributor

Scoring Accuracy

just how accurate are the scores that are given on this site? I'm hoping they are 100% actual but would like extra assurance from you guys lol


Starting Score:Equifax 543
Current Score:EQ659 TU 716 EXP677 updated 7/3/2016
Goal Score: 700


Message 1 of 5
4 REPLIES 4
DaveSignal
Valued Contributor

Re: Scoring Accuracy

They are all FICO scores, so in that sense they are all accurate.

Not all lenders use the same FICO version though.  Many lenders use the 04 version: EQ04 (beacon 5.0), EX04, TU04.

Some lenders use other versions.  You can get this common EQ score here.  The EX score you would need to get from PSECU.  I don't know anywhere to get TU04.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 2 of 5
thom02099
Valued Contributor

Re: Scoring Accuracy


@DaveSignal wrote:

They are all FICO scores, so in that sense they are all accurate.

Not all lenders use the same FICO version though.  Many lenders use the 04 version: EQ04 (beacon 5.0), EX04, TU04.

Some lenders use other versions.  You can get this common EQ score here.  The EX score you would need to get from PSECU.  I don't know anywhere to get TU04.


For Transunion, there is the TU98 model, which is available here.  There is a TU04 model which most lenders will use, and a TU08 model, which is not commonly used.

 

For Equifax, there is the Beacon 5.0 version, which is available here, and a Beacon 9.0 version, which is not as popular...yet.  That said, I've had several pulls in the recent past that were Beacon 9.0 and not Beacon 5.0.

 

For Experian, that score is now available here at MyFICO.  No need to go to PSECU any longer.  the EX score here is the EX08 model, the most recent model and the one likely used by most lenders.  Anecdotally, folks have reported the EX score here matches what they've received from lenders. 

Message 3 of 5
DaveSignal
Valued Contributor

Re: Scoring Accuracy


@thom02099 wrote:

@DaveSignal wrote:

They are all FICO scores, so in that sense they are all accurate.

Not all lenders use the same FICO version though.  Many lenders use the 04 version: EQ04 (beacon 5.0), EX04, TU04.

Some lenders use other versions.  You can get this common EQ score here.  The EX score you would need to get from PSECU.  I don't know anywhere to get TU04.


For Transunion, there is the TU98 model, which is available here.  There is a TU04 model which most lenders will use, and a TU08 model, which is not commonly used.

 

For Equifax, there is the Beacon 5.0 version, which is available here, and a Beacon 9.0 version, which is not as popular...yet.  That said, I've had several pulls in the recent past that were Beacon 9.0 and not Beacon 5.0.

 

For Experian, that score is now available here at MyFICO.  No need to go to PSECU any longer.  the EX score here is the EX08 model, the most recent model and the one likely used by most lenders.  Anecdotally, folks have reported the EX score here matches what they've received from lenders. 


I haven't heard of many lenders using EX08.  I was not aware that it is so common.  For me, PSECU gives an EX04 score that matches two lender EX pulls from last year.  I think EX04 is still predominatly favored, and that score is not sold here.

 

EDIT:  On second thought, I don't have much personal experience since I haven't applied for anything new for almost 1 year now.  So I don't know if lenders have started to favor EX08 in the last year.... maybe thom is right and everyone is using EX08 now.  

 

There is no doubt, though, that the EQUIFAX score sold here is a good choice for a commonly used score.  If you were only going to buy one, that is the one to get.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 4 of 5
thom02099
Valued Contributor

Re: Scoring Accuracy


@DaveSignal wrote:

@thom02099 wrote:

@DaveSignal wrote:

They are all FICO scores, so in that sense they are all accurate.

Not all lenders use the same FICO version though.  Many lenders use the 04 version: EQ04 (beacon 5.0), EX04, TU04.

Some lenders use other versions.  You can get this common EQ score here.  The EX score you would need to get from PSECU.  I don't know anywhere to get TU04.


For Transunion, there is the TU98 model, which is available here.  There is a TU04 model which most lenders will use, and a TU08 model, which is not commonly used.

 

For Equifax, there is the Beacon 5.0 version, which is available here, and a Beacon 9.0 version, which is not as popular...yet.  That said, I've had several pulls in the recent past that were Beacon 9.0 and not Beacon 5.0.

 

For Experian, that score is now available here at MyFICO.  No need to go to PSECU any longer.  the EX score here is the EX08 model, the most recent model and the one likely used by most lenders.  Anecdotally, folks have reported the EX score here matches what they've received from lenders. 


I haven't heard of many lenders using EX08.  I was not aware that it is so common.  For me, PSECU gives an EX04 score that matches two lender EX pulls from last year.  I think EX04 is still predominatly favored, and that score is not sold here.

 

EDIT:  On second thought, I don't have much personal experience since I haven't applied for anything new for almost 1 year now.  So I don't know if lenders have started to favor EX08 in the last year.... maybe thom is right and everyone is using EX08 now.  

 

There is no doubt, though, that the EQUIFAX score sold here is a good choice for a commonly used score.  If you were only going to buy one, that is the one to get.



Dunno about everyone using EX08, just that anecdotally I've read at various forums that EX08 was reported more than a few times. 

 

And I agree that the EQ score here is probably the most reliable singular score available, since Beacon 5.0 seems far more used than Beacon 9.0.  That said, within the past year I did have 2 reports indicate that Beacon 9.0 was used for my EQ score...hence my over 800 in my signature!  Beacon 5.0 is not as generous. 

 

For the OP, all the scores here are far more reliable than most of the FAKO scores.  I have found that of all the FAKO/Plus/Enhanced/ad nauseum scores available out there, the scores provided by AMEX CreditSecure have been the closest to my true FICO scores, with EX being within 5 points between here and there. 

Message 5 of 5
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