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Contributor
Posts: 78
Registered: ‎01-06-2013
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How does the FICO® Standard product compare to the product offered on Experian's site?

I'm currently enrolled in the monthly credit monitoring program Experian offers on their site but wanted to know if there's a difference in the FICO Standard product they offer here.  I found that the Experian Direct product (offered on Experian's site) is not very accurate in determining a FICO score because my FICO was showing a 708 score but when I app'd at AMEX they told me my score was only 670.  

 

Can anyone give me some feedback on what they think about the FICO Standard Experian product here and if they've ever compared with the Experian Direct offered by Experian?


Starting Score: 609
Current Score: EX: 723 (08/18), TU: 741 (08/15), EQ: 695(08/15)
Goal Score: 785


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Posts: 13,897
Registered: ‎04-15-2011
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Re: How does the FICO® Standard product compare to the product offered on Experian's site?

Taken from EX's website.

 

The PLUS Score, with scores ranging from 330 to 830, is a user-friendly credit score model developed by Experian to help you see and understand how lenders view your credit worthiness. It is not used by lenders, but it is indicative of your overall credit risk. Higher scores represent a greater likelihood that you’ll pay back your debts so you are viewed as being a lower credit risk to lenders. A lower score indicates to lenders that you may be a higher credit risk.

 

 

That kind of says it all.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Contributor
Posts: 78
Registered: ‎01-06-2013
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Re: How does the FICO® Standard product compare to the product offered on Experian's site?


Shogun wrote:

Taken from EX's website.

 

The PLUS Score, with scores ranging from 330 to 830, is a user-friendly credit score model developed by Experian to help you see and understand how lenders view your credit worthiness. It is not used by lenders, but it is indicative of your overall credit risk. Higher scores represent a greater likelihood that you’ll pay back your debts so you are viewed as being a lower credit risk to lenders. A lower score indicates to lenders that you may be a higher credit risk.

 

 

That kind of says it all.


Thanks for the feedback!  So the FICO® Standard products offered on MyFICO are all the standard FICO scores used by lenders?


Starting Score: 609
Current Score: EX: 723 (08/18), TU: 741 (08/15), EQ: 695(08/15)
Goal Score: 785


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Senior Contributor
Posts: 3,930
Registered: ‎10-26-2012
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Re: How does the FICO® Standard product compare to the product offered on Experian's site?

Experian and Equifax through myFICO are current scoring models used by lenders. Transunion here is TU98, it is a fico score but a much older scoring model. It's still used by some lenders but no many. TU04 is used by many lenders. TU08 is the newest scoring model and not used by many at all.

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