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Hi, I am new to the forum and addicted thus far! Yesterday I pulled the myfico eq and the score was 509. Horrible I know I but better than the 460 it was in October. Also yesterday Bill Me Later denied me with an EQ score of 569. hmmm??? Also this week accidentally experienced the cart trick SP with VS, only $250 CL now but will help me rebuild and I have heard that VS is pretty good about CLI's. So why the different scores and why such a drastic difference? Thanks in advance!!!
@fncbdy1 wrote:Hi, I am new to the forum and addicted thus far! Yesterday I pulled the myfico eq and the score was 509. Horrible I know I but better than the 460 it was in October. Also yesterday Bill Me Later denied me with an EQ score of 569. hmmm??? Also this week accidentally experienced the cart trick SP with VS, only $250 CL now but will help me rebuild and I have heard that VS is pretty good about CLI's. So why the different scores and why such a drastic difference? Thanks in advance!!!
FAKO versus FICO. Your EQ score here is Beacon 5.0. Bill Me Later is not.
Edit: Did BML give you a score range? Even though they pull EQ, they may be reporting a FAKO score, or their own variation of a EQ score.
Welcome to the forums!
Put simply, there are many (too many in my estimation) FICO scores available; EQ alone has more than 15 different scores which could be used (theoretically) for any given application.
The EQ score found here is the gold standard as far as mortgages go; for everything else, it could be wildly different, especially when it comes to credit card (and similar) approvals or auto loans.