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Valued Member
fncbdy1
Posts: 25
Registered: ‎03-09-2013

Two different EQ scores on the same day?

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!!!

goal 600's
current 08/13 EQ 574 EX 583 (lender pull)
beginning 10/12 - EQ 460
Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: Two different EQ scores on the same day?

[ Edited ]

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. 

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
Moderator
Revelate
Posts: 8,357
Registered: ‎12-30-2011

Re: Two different EQ scores on the same day?

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.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Member
fncbdy1
Posts: 25
Registered: ‎03-09-2013

Re: Two different EQ scores on the same day?

Wow! I never realized there were so many different facors and formulas. This forum is nothing if not educational! Thanks!
goal 600's
current 08/13 EQ 574 EX 583 (lender pull)
beginning 10/12 - EQ 460

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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