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Posts: 3,176
Registered: ‎10-19-2012
Re: Confused about scores

skinsfan83 wrote:

Hey everyone,

 

I applied for a CC earlier this week and was denied. In the denial letter it said that my TU score was 597. I just signed up for quarterly FICO here at my TU score was 542. Can someone let me know what there is a difference between the scores?

 

Thanks!


There are many FICO scores depending on the particular scoring model being used:

 

 

Classic or BEACON FICO scores are generally the best indicator of credit-worthiness and a good overall indicator of where your credit (mortgage, credit card, auto,etc.) stands.


Credit card enhanced scores (or bankcard enhanced scores) are specific indicators of credit worthiness with regards to credit cards only (not mortgages, auto, loans, etc.).


Auto-enhanced scores are specific indicators of credit worthiness with regards to an auto loan. Consumers cannot purchase auto-enhanced scores.

 

(quote from: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Son-Of-Credit-Scoring-101/m-p/718550#U718...