34
New Member
34
Posts: 3
Registered: ‎08-05-2012
Re: Interpreting Your FICO Score

my equifax score is 675 my transunion is 736.. is my score averaged out? or is the lowes fico score used?

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
Re: Interpreting Your FICO Score

34 wrote:

my equifax score is 675 my transunion is 736.. is my score averaged out? or is the lowes fico score used?


Per a mortgage loan? If yes, your lender will pull all 3 FICOs (not just the two) and take the middle score as opposed to an average and use that mid score as a basis for the rate, PMI, etc.. If applying with a spouse, then the lender will take the lower of the two mid scores and use that.

 

If for anything else like a car, CC, etc., most will only pull one report and look at one score. There are some that look at 2 or 3 as well.

34
New Member
34
Posts: 3
Registered: ‎08-05-2012
Re: Interpreting Your FICO Score

thanks alot..my experian score is the highest one..but i thought it was rarely used..so 746 736 675  .they just use the middle one instead of just averaging them out..   thanks again 

New Member
sailgirl123
Posts: 3
Registered: ‎04-29-2012
Re: Interpreting Your FICO Score

I am so angry.  I just received a score alert from myRico.  They said my score had risen to 719 . However, I just pulled all 3 credit scores and I had a666' a646 and a 646. Can anyone explain this to me?  I feel like I should quit mFIFO and just pull my credit score every 3 months to know the true score. Please feel free to comment.  I am not convinced that myfico Is a benefit to me when the score they report is not correct.  Help!!

Regular Contributor
Dishpro
Posts: 116
Registered: ‎06-10-2012
Re: Interpreting Your FICO Score
All the scores you pull are real credit scores. However, FICO scores are what most lenders use to evaluate the risk involved in lending you money. They all use different scoring models. So comparing other scoring sources to the FICO scoring model won't do anything for you but upset you. Just go by the FICO scores for the real picture.
 

Starting Score:
585
Current Score: FICO TU 725 FICO EQ 735 EX 754
Goal Score: 850


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New Visitor
Larry63
Posts: 1
Registered: ‎08-22-2012
Re: Interpreting Your FICO Score

My Fico score is 748. I'm employed, with ample savings. When I apply for a cc, I'm denied. I took out and paid 2 small loans in the past 24 months. My understanding is a score over 700 is very good. I'm lost....

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
Re: Interpreting Your FICO Score

Is the 748 a FICO? DO you have any CC open now? Do you have any open accounts reporting?

Established Contributor
jamie123
Posts: 868
Registered: ‎03-22-2012
Re: Interpreting Your FICO Score

Larry63 wrote:

My Fico score is 748. I'm employed, with ample savings. When I apply for a cc, I'm denied. I took out and paid 2 small loans in the past 24 months. My understanding is a score over 700 is very good. I'm lost....


Credit card companies are a bit quirky about this. They don't want to be the first one to lend you money no matter what your score. You could have your house paid for and 1 million dollars sitting in your savings account but you will still have a hard time getting that first credit card. The lenders want to see a history (6 months to 1 year) of good credit behavior before issuing one of their prime cards. You probably just applied for the wrong type of card.

 

I'll help you get that card!

 

What card did you apply for?

 



Starting Score: EQ 658 6/18/12
Current Score: EQ 700 10/12/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
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Established Member
rjohson
Posts: 11
Registered: ‎06-14-2012
Re: Interpreting Your FICO Score

thanks this was very helful and very funny