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Posts: 17,529
Registered: ‎12-30-2011
0 Kudos

Re: wrong equifax score

guiness56 wrote:

Lechte wrote:

guiness56 wrote:

Lechte wrote:

arrazola_a wrote:

Same thing happened to me yesterday. I pulled mine and it was at 645(myfico) and my cu pulled a 611 fico .. Makes you wonder....

oh both were ex

TU and EX Fico's here are outdated versions....EQ Fico from here is the only one "90% of lenders" use.

EX score from here is not outdated.  It is the newest version, 08.

I'm it's just that most lenders have decided not to use the new version yet?

Pretty much, yes.  Lenders decide which version/model benefits them the most.


And as far as mortgages changing what they use, I don't see them doing it.

Until Fannie and Freddie change what they use for underwriting, I don't see any lenders doing it either.


Regardiong '08 scores, most credit card applications (Amex, Chase, etc) appear to have moved to either FICO '08 or '08 Bankcard-enhanced based on user experience.   I think I actually agree with most banks on this one, recent history is far more predictive than old credit history which appears to be something of a tenet underpinning the '08 model anecdotally. 


Auto-lending is pretty much all auto-enhanced at the major lenders, and unfortunately we don't have access to these at all.


End of the day as Guin suggests, lenders will use the score they feel most accurately predicts their risk, otherwise known as most accurately predicts their profit.


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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