cancel
Showing results for 
Search instead for 
Did you mean: 

The many flavors of FICO:__Editions, versions, and variations

Contributor

Re: The many flavors of FICO:__Editions, versions, and variations

 

ooOOoo said:

 

I have seen it said elsewhere on the boards that the upgraded ScoreWatch score for TU is 08.  Is that correct, or is the sticky accurate that you still get FICO 98 when you buy your TU score?

 

ScoreWatch is a subscription credit monitoring service that only provides a FICO score from Equifax, not Transunion.  The FICO score provided by Scorewatch was recently changed from EQ-04 to EQ-08.

 

You can also buy a Transunion FICO score as a one-time purchase from MyFICO, but not as part of the ScoreWatch service.  My understanding is that the TU score you receive is FICO 98.

 

 

 

 

 

EQ-04 FICO__804__(from DCU)__inquiries = 0
EQ-08 FICO__826__(from MyFICO)__inquiries = 0
EX-98 FICO__837__(from PSECU)__inquiries = 0
EX-08 FICO__813__(from MyFICO)__inquiries = 0
TU-08 FICO__820__(from MyFICO)__inquiries = 0
Oldest account 36 yrs / Newest account 2 years / Average age 12 yrs / Total accounts 10 / Accounts reporting balance = 2 / Util = 3%
Established Contributor

Re: The many flavors of FICO:__Editions, versions, and variations


jello77 wrote:

 

ooOOoo said:

 

I have seen it said elsewhere on the boards that the upgraded ScoreWatch score for TU is 08.  Is that correct, or is the sticky accurate that you still get FICO 98 when you buy your TU score?

 

ScoreWatch is a subscription credit monitoring service that only provides a FICO score from Equifax, not Transunion.  The FICO score provided by Scorewatch was recently changed from EQ-04 to EQ-08.

 

You can also buy a Transunion FICO score as a one-time purchase from MyFICO, but not as part of the ScoreWatch service.  My understanding is that the TU score you receive is FICO 98.

 


No, not anymore - all three one-time MyFICO scores are now FICO 8.

 

EQ8:844 TU8:845 EX8:850 (MyFico) - 2017-10-16
Contributor

Re: The many flavors of FICO:__Editions, versions, and variations

iv said:

 

all three one-time MyFICO scores are now FICO 8.

 

Many thanks for this info.

 

I revised the original post to include this recent change.

EQ-04 FICO__804__(from DCU)__inquiries = 0
EQ-08 FICO__826__(from MyFICO)__inquiries = 0
EX-98 FICO__837__(from PSECU)__inquiries = 0
EX-08 FICO__813__(from MyFICO)__inquiries = 0
TU-08 FICO__820__(from MyFICO)__inquiries = 0
Oldest account 36 yrs / Newest account 2 years / Average age 12 yrs / Total accounts 10 / Accounts reporting balance = 2 / Util = 3%
Contributor

Re: The many flavors of FICO:__Editions, versions, and variations

My Fico 8 scores are definitely higher than my Fico 4. I get score tracjer through my Cap1 card but they can't seem to tell me which version they are using.


BK7 Discharge 7/2014 Gardening til 9/2018 Fico 8 July'17 EQ: 619 EX: 627 TU: 637 Goal: 680 AAOA: 42mo INQ: 9
Valued Contributor

Re: The many flavors of FICO:__Editions, versions, and variations


twanswife916 wrote:

My Fico 8 scores are definitely higher than my Fico 4. I get score tracjer through my Cap1 card but they can't seem to tell me which version they are using.


Cap1 provides your TU TransRisk score.  It is a FAKO.  It is the same score CreditKarma provides.  Although CK, does provide a Vantage score, too.

 

Cap1 used to provide your EQ-04 score on denial of CLI's, etc.  I am not sure if they still do.

New Visitor

Re: The many flavors of FICO:__Editions, versions, and variations

So with there being so many versions, yet I can only purchase one of them, makes the one I purchase no more valuable than the FAKO scores I can purchase. The purchasable FICO score is for "educational purposes" as are the FAKO scores but costs considerably more. Thanks for educating me on this! I guess I should have figured it out since whenever I 've gotten a score reported to me by creditors has never been identical to the score I've purchased from FICO.

New Visitor

Re: The many flavors of FICO:__Editions, versions, and variations

Is it normal that my Nextgen (via penfed) is 724 while my average between the 3 scores here is 777?  It seems odd that since it has a broader range, that the score would be so much lower.  I was freaked out by the low score which is why I came here to check all of my scores.  I'm hoping whichever lender I use to purchase my next home in a few months doesn't use the nextgen!

Moderator

Re: The many flavors of FICO:__Editions, versions, and variations


dvdeat444 wrote:

Is it normal that my Nextgen (via penfed) is 724 while my average between the 3 scores here is 777?  It seems odd that since it has a broader range, that the score would be so much lower.  I was freaked out by the low score which is why I came here to check all of my scores.  I'm hoping whichever lender I use to purchase my next home in a few months doesn't use the nextgen!


Hardly anyone uses Nextgen and none of the mortgage underwriting I've ever been aware of did; they went from '96 straight to '04 on Equifax and similarly on Transunion, and stopped at '98 for Experian.

 

The one you're likely looking for isn't here either: double-check on Equifax's FICO (Scorepower) credit score product for Equifax Beacon 5.0 which the vast majority of mortgages are underwritten on; that will be your best and easiest method for getting a reasonable estimate as to where you are from a mortgage perspective.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Member

Re: The many flavors of FICO:__Editions, versions, and variations

My wife and I are in the process of securing financing for our new home, and during my pre-qualification I saw that my Equifax was about 26 points higher than what it was showing on MyFico.com, so I just assumed that it's using a different scoring model. I looked at the report the lender used and it says Classic V5. Is that the same as Beacon 5? Is it safe to assume MyFico.com uses V9? To get the best rate possible for my mortgage I need my middle score to be 740. When my lender pulled my report it was 735 (by MyFico showed 709). Recently I had a huge bump in my score on MyFico from 709 to 737. Logic would tell me that the one that my lender will pull again when we actually do the financing would now be higher as well (seeing how it was 735 when MyFico had me at 709 originally). I'm just curious if V5 is the same as Beacon 5 and wanted to confirm that MyFico.com uses V9.



Ex: 760
Tu: 752
Eq: 747
as of 12/2014

Valued Contributor

Re: The many flavors of FICO:__Editions, versions, and variations

When describing FICO models, we usually refer to years such as 1998, 2004 and 2008. For mortgages, it’s generally EQ 04 (a.k.a. Classic V5 a.k.a. Beacon 5), TU 04 and EX 98. MyFICO is all 08 (v8). You said your EQ 04 is 735; what are your TU 04 and EX 98? Also, be sure the ranges are listed as 300-850.