myFICO product confusion

[MF13]

Hi.  I'm trying to figure out what FICO score(s) are included in the "Score Watch" and "FICO Quarterly Monitoring" products.  

Did I read correctly that "Score Watch" includes ONLY your Equifax FICO score and that the "FICO Quarterly Monitoring" includes ONLY your TransUnion FICO score?  If so, is this the case because those products are sponsored by Equifax and TransUnion respectively?  I'm wondering why we cannot view all 3 FICO scores (now that Experian is back) with tools like "Score Watch" and "FICO Quarterly Monitoring".  

The chart on http://www.myfico.com/Products/Products.aspx should be more granular and easier to read at a glance in terms of what you are actually buying.  Unless I misread the "Learn More" pages, I feel like the existing chart on that page compares apples to oranges for some of the rows (Ex: "FICO Score" row should be 3 rows... one for each type of FICO Score: TransUnion, Equifax, Experian).  The "Learn More" pages also don't make it obvious which FICO score you are actually getting (see quoted text below).  The first paragraph references "FICO Score" but does not indicate which one it is.  It should be more clearly stated than that.

From http://www.myfico.com/Products/IDF/Description.aspx?cm_re=productOverview-_-topRight-_-learnFQM

"Our quarterly credit monitoring will reveal changes to your credit report that can affect your credit score. We’ll pull your credit report and FICO Score every three months and track it for you online so you can always know what's happening with your FICO Score. Tracking essential components of your credit score such as "problem accounts" or the "total balances owed on your accounts" can help you spot the trends in your credit profile which may be affecting your FICO Score."

*confused*

Thanks in advance for any help.

[DaveSignal]

If you are going to pick one, I would choose the EQ Score Watch.   This is what I use and I get score updates all of the time.  It is a commonly used FICO score (beacon 5).  The TU score is old (TU98) and not often used by lenders.

I think that Score Watch is an Equifax product, rebranded for myFICO, which is why you don't get other scores with it.

I also think that the price would be getting a bit too expensive if 3 seperate scores were being monitored.

[MF13]

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@DaveSignal wrote:

If you are going to pick one, I would choose the EQ Score Watch.   This is what I use and I get score updates all of the time.  It is a commonly used FICO score (beacon 5).  The TU score is old (TU98) and not often used by lenders.

I think that Score Watch is an Equifax product, rebranded for myFICO, which is why you don't get other scores with it.

I also think that the price would be getting a bit too expensive if 3 seperate scores were being monitored.

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Thanks for the information.  Where are you getting information like "beacon 5" and "TU98" from?  I've seen "TU98" referenced here on the message board before, but never "beacon 5".  Does myFICO have dedicated pages explaining what those terms are or is everyone just getting tidbits of information from various sources and posting them here?

[DaveSignal]

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@MF13 wrote:

Thanks for the information.  Where are you getting information like "beacon 5" and "TU98" from?  I've seen "TU98" referenced here on the message board before, but never "beacon 5".  Does myFICO have dedicated pages explaining what those terms are or is everyone just getting tidbits of information from various sources and posting them here?

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There are lots of different versions of FICO for each of the credit reporting agencies.  In addition to things like auto-enhanced scores, there are different versions of the standard FICO that is most commonly pulled by the vast majority of lenders.  These different versions result in different numbers for your FICO score.  The Equifax version sold here is the same as every creditor I have applied to that used Equifax. This doesn't mean its the only version, it is just one that is quite commonly used.  The TU version sold here is the same as a few lenders, but not many.  More common is the TU04 version....  there is also even a TU08 version (this is what you would get with a Wal-Mart credit card).  I have no experience with the EX score from here, since EX is newly being sold and I get my EX score from PSECU, so I have no reason to buy it.

EDIT:  sorry I didn't answer your question fully.   I got this information from lurking in these forums for a few years.