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is Experian fico reliable?

Established Contributor

is Experian fico reliable?

are a lot of lenders still using Exp 04? the fico i get here (Exp 08) is consistently 80-100 pts. higher than the score i receive from other lenders that use experian. is this happening to anyone else?

Message 1 of 8
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Valued Contributor

Re: is Experian fico reliable?

You're dealing with multiple scoring models (formulas), and thus they won't match each other.

 

Message 2 of 8
Moderator

Re: is Experian fico reliable?


user5387 wrote:

You're dealing with multiple scoring models (formulas), and thus they won't match each other.

 


+1

 

Anecodtally I suspect most people on this forum will find their '08 scores higher (least for mixed file scenarios).  '08 appears to look at more recent derogatories vs. '04 which assigns a heavier weight to older ones comparitively.

 

I have experience with a 3 year old tax lien on all my reports, and I was consistently 40-50 points higher on my TU and EX '08 scores compared to any '04 or '98 pull I'd seen.

 

Then I did something stupid, got a new tax lien, and when it updated my '04 and '08 scores were virtually identical (<5 points either way).  

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Message 3 of 8
Established Contributor

Re: is Experian fico reliable?

thanks for the info. ill be glad when more lenders start using the 08 model

Message 4 of 8
Established Member

Re: is Experian fico reliable?

I was wondering this also.  My EX & TU scores are 600+ my EX was 560 o.O I haven't had a score that bad since I had constant and RECENT charge offs and late fees.


Starting Score: 580
Current Score: 620
Goal Score: 680


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Message 5 of 8
Valued Member

Re: is Experian fico reliable?

Maybe we can compare approval notices and figure out which model each lender tends to use. 

 

I wish MYFICO would sell the different scores. 

Message 6 of 8
Valued Contributor

Re: is Experian fico reliable?


CreditDrama85 wrote:

 

are a lot of lenders still using Exp 04? the fico i get here (Exp 08) is consistently 80-100 pts. higher than the score i receive from other lenders that use experian. is this happening to anyone else?


 

Oh yes, FICO 08 is too easy. My EX 08 from myFICO is 849, DW's is 850. My TU 08 from Discover is 839, DW's is the same. EQ 08 unknown. The classic FICO 04 is so much more fun. My EQ is 814, my EX 821.

 

Message 7 of 8
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Valued Contributor

Re: is Experian fico reliable?


my-own-fico wrote:

CreditDrama85 wrote:

 

are a lot of lenders still using Exp 04? the fico i get here (Exp 08) is consistently 80-100 pts. higher than the score i receive from other lenders that use experian. is this happening to anyone else?


 

Oh yes, FICO 08 is too easy. My EX 08 from myFICO is 849, DW's is 850. My TU 08 from Discover is 839, DW's is the same. EQ 08 unknown. The classic FICO 04 is so much more fun. My EQ is 814, my EX 821.

 


OT, but I think you are the first person I have seen flashing a diamond around in their sig.  Congrats, and I guess it helped to achieve those near-perfect scores?

 

As for EX scores, I get EX04 monthly updates and they have matched a few of the lender pulls I have done where EX was used.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
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