06-05-2012 03:18 PM
The "fico" scores sold on this site are not even remotely close to being accurate. I've been monitoring my credit repair here for over a year. Last week this site told me my TU (which is traditionally my middle score) fico score had jumped up to 671 from 639. I've been waiting for my score to go over 640 to apply for mortgage pre-approval so based on what this site reported I started the pre approval process only to find out that my TU (still my middle score)fico is actually only 612, a difference of 59 points. Accurate? Not even close. And now there is an unnecessary credit inquiry on my record to boot.. What a rip off. I can't remotely recommend that anyone waste their money here.
06-05-2012 03:32 PM
It's posted quite heavily in the 'Understanding FICO Scoring' board and some in 'Mortgage Loans' that there are two versions of TU FICO being predominately used by lenders out there: TU98 and TU04 (as we call them). While TU98 is still used by quite a few lenders, more than likely your lender used the newer TU04 version instead. For most, their TU04 is lower, and for some it is higher. 59 points does seem excessive. I'd definitely compare the two reports and look at the differences. Even small balances or updated baddies can throw the score off.
Unfortunately you cannot buy the TU04 version from anywhere except from your lender at the cost of an inquiry. The newest TU FICO version (TU08) is available from Wal-Mart if you have their CC and for many that's just as unpredictable (lenders don't use it anyway).
The EQ FICO from here is spot on to your lender's. And the EX FICO version that used to be sold on here would have likely matched your lender's as well.
One thing I learned while entering the mortgage process was to never rest at the goal. Get your score 40-50 points higher just in case something changes on your CRs.