03-12-2013 08:28 AM
I know the verision on Myfico for Trans Union is an older model but it is the only one I have access to at this time.
My question is - do most people find their scores higher or lower with the new version. I am trying to get a guestimate as to what my score might be on the newer model. I am sitting at 669 on the myfico version.
03-12-2013 08:33 AM
Always assume your TU04 (assuming you're gunning for a mortgage) is lower. It might be higher, but at least you would be better off had you not prepared. IME, it was a mixed bag. DW's TU04 was higher than TU98 when compared the exact same day after a mortgage app. My TU04 was 10 points lower when compared the same day. Seems like for most TU04 is lower.
03-12-2013 09:37 PM
The TU98 score offered here is getting as bad as using a FAKO. Anecdotally, I've heard that Barclay's still uses the TU98 model but NO other major lender does. TU04, like EQ's Beacon 5 and Experian's V2 seem to be the standard, at least for the mortgage industry. Whatever politics that prevent MyFico from preventing them to offer the most widely used TU04 score escapes me.