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Valued Member
vnita06
Posts: 25
Registered: ‎02-07-2008
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Transunion Fico Scores

[ Edited ]

Would someone please shine some light on this situation for me.

 

I pulled my FICO Transunion scores from MyFico.com and it says that my score is 665; My Barclay CC FICO scores says that it is 700. I do understand that they are different models, but which one is closer to what a mortgage lender would use. Thank you in advance!!

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myjourney
Posts: 26,659
Registered: ‎02-07-2013
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Re: Transunion Fico Scores


vnita06 wrote:

Would someone please shine some light on this situation for me.

 

I pulled my FICO Transunion scores from MyFico.com and it says that my score is 665; My Barclay CC FICO scores says that it is 700. I do understand that they are different models, but which one is closer to what a mortgage lender would use. Thank you in advance!!


Yes different models 

04 and 08

Lender will use the MyFico model in most cases 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Valued Member
vnita06
Posts: 25
Registered: ‎02-07-2008
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Re: Transunion Fico Scores

Thank you! Wish it would be closer to the one Barclay uses :smileysad:

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myjourney
Posts: 26,659
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Re: Transunion Fico Scores

Barclay, Walmart, Discover all use TU 08 model which is a newer model 

FWIW there's 49 different Fico scoring models out there :smileysad:

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


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Revelate
Posts: 9,645
Registered: ‎12-30-2011
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Re: Transunion Fico Scores

[ Edited ]

vnita06 wrote:

Thank you! Wish it would be closer to the one Barclay uses :smileysad:


Actually the '08 model (the Barclay's score) is more relevant especially for credit card applications.

 

I don't know any lenders which still use the Transunion score found here ('98), I know NFCU used to but I think they've moved on from that but I haven't seen many scores posted as of late.  A bunch of lenders are using the FICO '08 version.

 

Out of the 3 scores here, I rank them in the following order: EQ > EX >> TU.   I get the same '08 score from my Walmart card that Barclay's offers, I trust that more for everything except for a mortgage or auto loan which is just going to be luck of the draw when I get around to pulling the trigger.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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-NewGuy-
Posts: 3,499
Registered: ‎12-18-2013
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Re: Transunion Fico Scores

Do we know any differences between the 98 version from here and other newer version? What's weighted more / less etc?

 

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Revelate
Posts: 9,645
Registered: ‎12-30-2011
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Re: Transunion Fico Scores

[ Edited ]

msf12555 wrote:

Do we know any differences between the 98 version from here and other newer version? What's weighted more / less etc?

 


Officially not much.

 

'08: Nuisance collections (<$100) are discounted

'08: FICO changed some things regarding whether AU's count or not, some anti-abuse measure which not quite certain how/what/if it actually got implemented.

 

'98: Amex charge cards (and similar, term = 1 month) are counted for revolving utilization

 

Anecdotally: in my experience '08 tends to weight *recent* history much more heavily than either '04 or '98.  I think that's been borne out by most of the other members I've seen here too, recent negatives are harsher, older ones not so much vs. the older models where older information depresses one's score a whole lot more.  As an example I had a silly tax lien added, my EQ '04 lost 5 points (I don't track TU '98 anymore) and I lost 40-50 on both TU and EX '08.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Member
vnita06
Posts: 25
Registered: ‎02-07-2008
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Re: Transunion Fico Scores

Ok so what about Experian on My fico is that the '08 version too??

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Revelate
Posts: 9,645
Registered: ‎12-30-2011
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Re: Transunion Fico Scores

[ Edited ]

vnita06 wrote:

Ok so what about Experian on My fico is that the '08 version too??


Yes, on myFICO:

 

EX = '08

EQ = '08

TU = '98

 

Edit: original post was from nearly 3 months ago; editing to reflect change in myFICO score models from March.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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ycart
Posts: 12
Registered: ‎02-25-2009
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Re: Transunion Fico Scores

Hi,  I am not sure if this is the right way to ask a question in this forum but here goes:

 

I do have very high FICO scores and I am not complaining but I just want to understand why TU is so different from my Exp & Eq FICO Scores.

I pulled my credit scores today from the myfico site and my Experian was a 849, Equifax was a 842, and TU was a 798.  The Equifax and Trans Union had the exact same info and debt for credit cards.  Is the Trans Union a different version of the FICO score from the Equifax and Experian?   The Experian did not have one of the more recent accounts I opened so I understand why the score was higher but as far as the other two it is not making sense.  Also on the FICO score ingredients chart it said that the Equifax "amount of new credit" was good but on the Trans Union chart is said new credit was "Not Good" .  Please give me some feedback since I am very curious?  Thanks


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