@DBSH wrote:
I have been slowly rebuilding my credit and it has a slow and painful road. I am sure everyone that has been down this road can agree that every point counts.
The reason I am asking is I have gotten multiple sources that provide scores for TU.
freecreditreport.com monitoring service which provides me with a 3-report summary every 90 days has my TU FICO/FACO score is at a painfully low 580 (at least 50 points lower that EX & EQ)
the free FICO/FACO TU score provided by Merrick Bank on a monthly basis (I believe it is a similar service as the Wal-Mart card provides) has me somewhere between 655-670 which seems to be more inline with my EX & EQ scores.
Which one is right?
They are all "right" in that, if they say FICO, then they ARE FICO.
That said, there are a variety of scoring models. TU98 is what is provided here at this site, an older model that's rarely used by lenders, but is the one this site chooses (or is allowed) to provide to consumers.
Discover, WalMart, etc, use the TU08 model which is the most recent.
In between is a TU04 model which is what most lenders use. This model is not as readily available to consumers IIRC.
There's a wide range within these models. For example, my TU here is about 40pts lower than what I recently got from Discover in their initial foray into releasing TU credit scores. Algorithms are apparently different between the 2 models.
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