Walmart FICO score vs. myFICO TU score

[Orgho]

I've recently started rebuilding my credit, so forgive my (possibly) n00b-ish question.

My Walmart TU FICO score on 08/06/2013 says - 660.

To compare, I purchased myFICO's TU score on the same day, and it said 706.

Any idea why this discrepancy? Is it because myFICO uses an older model (Classic '98) and maybe WalMart uses something newer like FICO 2004?

And if that's the case is it fair to assume that most creditors would use the newer model?

Any information at all is appreciated. Thanks!

[mongstradamus]

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@Orgho wrote:

I've recently started rebuilding my credit, so forgive my (possibly) n00b-ish question.

My Walmart TU FICO score on 08/06/2013 says - 660.

To compare, I purchased myFICO's TU score on the same day, and it said 706.

Any idea why this discrepancy? Is it because myFICO uses an older model (Classic '98) and maybe WalMart uses something newer like FICO 2004?

And if that's the case is it fair to assume that most creditors would use the newer model?

Any information at all is appreciated. Thanks!

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I believe walmart uses the new 08 TU fico. i have large discprency between myfico and walmart TU fico scores also. Over 100 points different. I think in my situation it has something to do with how 08 TU fico scores factor in AU. 

[DaveSignal]

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@Orgho wrote:

I've recently started rebuilding my credit, so forgive my (possibly) n00b-ish question.

My Walmart TU FICO score on 08/06/2013 says - 660.

To compare, I purchased myFICO's TU score on the same day, and it said 706.

Any idea why this discrepancy? Is it because myFICO uses an older model (Classic '98) and maybe WalMart uses something newer like FICO 2004?

And if that's the case is it fair to assume that most creditors would use the newer model?

Any information at all is appreciated. Thanks!

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yes, they are different scoring models.   Neither is used by most lenders.

[Orgho]

DaveSignal wrote:

yes, they are different scoring models.   Neither is used by most lenders.

A 46 point difference is sort of substantial - wouldn't you agree?

If neither scoring model (FICO 98, 08 TU FICO) is used by most lenders then I'm tempted to ask what is the use of getting a FICO score over a FAKO score?

I thought the whole point of knowing your FICO score is an implicit guarantee that that's approximately the score that a potential lender would see.

But as this little experiment shows (at least in some cases) the discrepancy between different scoring models might be as large as the difference between FICO and FAKO scores.

[mongstradamus]

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@Orgho wrote:

@DaveSignal wrote:

yes, they are different scoring models.   Neither is used by most lenders.

A 46 point difference is sort of substantial - wouldn't you agree?

If neither scoring model (FICO 98, 08 TU FICO) is used by most lenders then I'm tempted to ask what is the use of getting a FICO score over a FAKO score?

I thought the whole point of knowing your FICO score is an implicit guarantee that that's approximately the score that a potential lender would see.

But as this little experiment shows (at least in some cases) the discrepancy between different scoring models might be as large as the difference between FICO and FAKO scores.

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i agree with you , when fico score differ by such an huge margin its kind of an pain. For me i am worried when i am about to app for an new cc and they are going to pull TU, which its closer to. My walmart is over 100 points less than myfico TU score. I was going to try and app for either Discover IT or Chase Freedom at end of the year, but walmart Fico is making me hesitant, don't want to waste an hard pull.

[09Lexie]

The score I receive from Walmart's 08 has been dead on to lender pulled scores. For the poster who mentioned apping for Discover, in my case they were within 3 points.

[mongstradamus]

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@09Lexie wrote:
The score I receive fron Walmart's 08 has been dead on to lender pulled scores. For the poster who mentioned apping for Discover, in my case they were within 3 points.

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well i am definately going to hold off on apping for either chase freedom or discover it till scores are an lot closer. So i am assuming discover pulls something very close to 08 version? 

[masscredit]

Kind of makes you wonder... what does it all mean? It seems like you can pull scores from 6 locations and receive 6 difference scores (most of the time).

So far my only match has been DCU with my my FICO EQ score here. Both of been exact since I started getting the DCU score a few months ago. 

Today I'm reviewing my EQ and TU reports and scores to see why they are usually about 25 points apart. EQ is always higher.

[Kratos-TM]

Let's just hope TU04 is more forgiving than TU08. Because I'm not liking what I see in the OP's numbers.....

[Orgho]

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@masscredit wrote:

Kind of makes you wonder... what does it all mean? It seems like you can pull scores from 6 locations and receive 6 difference scores (most of the time).

So far my only match has been DCU with my my FICO EQ score here. Both of been exact since I started getting the DCU score a few months ago. 

Today I'm reviewing my EQ and TU reports and scores to see why they are usually about 25 points apart. EQ is always higher.

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Makes me think that even the scores that we pay for here at myFICO are nothing more than "educational" at best - in the sense that when I get to a real world lender they won't see the exact same scores for a variety of reasons. It could be they're using a different FICO scoring model or an "auto enhanced" score or whatever, and the differences in the scores (in some cases at least ) could be as large as the difference between FAKO scores and whatever they're pulling.

Kinda sucks, if you ask me, but C'est la vie I guess.