09-27-2012 07:02 AM
Scores range from a low of 300 to a high of 620.
It's not a FICO. They use their own internal score to approve/deny folks.
this is correct I called them on it the other day. I was a little peeved since my TU which I bought from here is 670
09-30-2012 10:52 AM
That narrows out report changes, so the CC's score would either be their own in-house non-FICO score, an older or newer EQ FICO, or a CC-enhanced FICO. I vote for the latter.
Until recently I would have thought the same thing. About a week ago the CFPB released a report that analyzed an extremely large number of consumer reports in order to determine the difference between the available scores lenders use as well as so called "educational scores" aka FAKOs.
One particular portion of the study outcome was that generic FICO scores correlated almost perfectly (.99) with credit card enhanced FICO scores of the same generation.
Here's the thread which includes a link to the pdf. It's perhaps now the gold standard when someone is confused about credit score models.
It helps to have had a statistics course but a fair amount can be discerned from the prologue and text.
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.>> About myFICO