@Anonymous wrote:
Ok, this sounds scary. I want to apply for a mortgage in a couple of months. Does this mean that the scores i am purchasing on myfico.com and equifax.com are NOT correct and that when I go apply for a mortgage the scores the banks pull up are going to be different from what I'm seeing. What is the point of purchasing our scores then?
Mortgage lenders almost always use classic FICO scores, which are the ones you buy here. (Sometimes they call them Beacon scores.) There are tweaked FICO scores for car loans and for bank cards/ credit cards. (And of course, mortgages are driven by more than scores.)
I think that you read the string that MeganML84 posted, so unfortunately you now know the difference between FAKO's (the scores you bought from the sites) and FICO's. The last I looked, my EQ FICO was 70 points lower than my TrueCredit EQ FAKO, although my other two have higher FICO's. There is just no correlation between them at all.
There's a link posted near the top of all the boards here called "USA Today wants to hear from you!" I think someone from USA Today is doing an article about people like you who got bombed at the bank because they had the "wrong" scores.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007