Re: Score Watch not updating?
10-23-2012 05:21 AM
I'm surprised you mentioned that Score Watch only monitors scores every 7-10 days, since the 699 was reported just 1 day after a previous 703, the drop being the result of a hard pull.
If there's indeed a difference in scoring models, how big of a fluctuation should I expect? I'm confused that there should be multiple FICO scores generated from one credit report. Isn't it confusing enough that there are multiple types of credit scores, e.g. Vantage and FAKO?
SW will grab the latest FICO at the moment of a credit alert. If nothing is happening (e.g. a new TL, an acct change, inquiry, balance increase, or others) in terms of credit alerts, then your EQ FICO is monitored for changes every 7-10 days (aka a score alert). If you have lots happening, it's possible to get a new FICO daily.
There's not enough input from others to make any determination unfortunatey. Lenders rarely post the score version (mortgage lenders aside). Sometimes you can get a clue if they publish a score range. And if you were to call and ask, you'll likely just get a generic answer because most credit CSR-types can't differentiate a FICO from a FAKO.
It's up to each lender to decide what FICO version they want to use. It'd be simple to have one but every demographic region or loan type differs and that's why you'll see different versions out there. About the only industry with any uniformity is the mortgage industry. Out side of that, any guess as to the FICO version used is just that.
Again, it may not be a different version. Definitely keep tabs on your latest EQ FICO and you'll know more. If it shows another alert around 700, and the lender indeed pulled an Eq FICO only, then you'll know for sure if it is a different FICO.