@Anonymous wrote:
@racer-x wrote:
@Anonymous wrote:
@racer-x wrote:If you got the EQ score directly from their site, it is the 04 (Beacon 5) model. Which the only known way to get it is through Equifax, a lender pull that is pulling that model, or if you have a DCU (DIgital Federal Credit Union)product, of which I do have.
My DCU EQ 04 (or Beacon 5) score is 40 pts lower than myFico EQ 08 as well.
Depending on what type of credit you're applying for, generally determines what model will be used.
Mortgage
Auto loan
Credit card (bankcard)
P.S. You're not getting many responses because these types of questions/concerns have been beat to death and a quick use of the search function should keep you busy for days.
This is not exactly correct.
1). You can now also get the EQ 04 score from this site
2) Without knowing exactly which product the OP purchased it's impossible to know which score model he obtained. Equifax also sells their own scoring model besides the 04 score and is a complete FAKO
Where's the EQ 04? I've had the 3 B, and bought it again just yesterday for $47.98.
Ya know I spend about $200 month in credit monitoring services. lol.
I see:
EQ Fico 8 -widely used version,
EQ Fico 5 - previous mortgage lending <------------------ This is the EQ 04 Score
EQ auto score 8 - current auto lending
EQ auto score 5 - previous auto lending
EQ Bankcard score 8 - current credit card lending
EQ Bankcard score 5 - previous credit card lending
Let me guess, the 04 is a separate myFico product that you have to buy?
If the EQ 04 is the 'previous' mortgage lending score, what's the EQ 'current' mortgage lending score?
@racer-x wrote:
@Anonymous wrote:
@racer-x wrote:
@Anonymous wrote:
@racer-x wrote:If you got the EQ score directly from their site, it is the 04 (Beacon 5) model. Which the only known way to get it is through Equifax, a lender pull that is pulling that model, or if you have a DCU (DIgital Federal Credit Union)product, of which I do have.
My DCU EQ 04 (or Beacon 5) score is 40 pts lower than myFico EQ 08 as well.
Depending on what type of credit you're applying for, generally determines what model will be used.
Mortgage
Auto loan
Credit card (bankcard)
P.S. You're not getting many responses because these types of questions/concerns have been beat to death and a quick use of the search function should keep you busy for days.
This is not exactly correct.
1). You can now also get the EQ 04 score from this site
2) Without knowing exactly which product the OP purchased it's impossible to know which score model he obtained. Equifax also sells their own scoring model besides the 04 score and is a complete FAKO
Where's the EQ 04? I've had the 3 B, and bought it again just yesterday for $47.98.
Ya know I spend about $200 month in credit monitoring services. lol.
I see:
EQ Fico 8 -widely used version,
EQ Fico 5 - previous mortgage lending <------------------ This is the EQ 04 Score
EQ auto score 8 - current auto lending
EQ auto score 5 - previous auto lending
EQ Bankcard score 8 - current credit card lending
EQ Bankcard score 5 - previous credit card lending
Let me guess, the 04 is a separate myFico product that you have to buy?
If the EQ 04 is the 'previous' mortgage lending score, what's the EQ 'current' mortgage lending score?
Its a mortgage score that FICO has developed that isnt used by many mortgage companies. Some of them are very slow to adapt to new models. There are bank out there that are still using FICO 98 models. It's like there is a FICO 09 now that no one seems to be using. Creditors are just very very slow to adapt, especially in the mortgage industry.. That's why most of them still use the 04 model.