topic Re: Discover and fico score. in Understanding FICO® Scoring

Discover and fico score.

Anonymous — Mon, 23 Apr 2018 23:20:16 GMT

My question is between the fico score on here and the one discover shares each month with card holders. Is there a difference? and if so what is the difference? Thanks!

Couldn't find a thread - if I missed it I'm sorry just was wondering.

Re: Discover and fico score.

Anonymous — Mon, 23 Apr 2018 23:36:54 GMT

Discover gives out two different scores.

One is drawn on Experian data and is found at creditscorecard.com. You do not need to have any accounts with Discover to get this. It is free.

The other is drawn on TransUnion data and is given to its credit card holders.

Both scores use the FICO 8 Classic model. The myFICO Ultimate credit monitoring tool contains these two scores along with many other FICO scores. The myFICO Ultimate product is expensive ($40/month) so many people opt for free tools for their reports and scores.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 01:33:17 GMT

If the scoring model and bureau being used for the data are the same, which it sounds like may be the case here, the only other factor is the point in time at which those first 2 factors are used.

For example, if you get your TU FICO 08 score on the 15th from myFICO and it's 705, then on the 1st you get your TU FICO 08 score from your Discover account and it's a 709, since the scoring model (FICO 08) and bureau data (TU) are the same, the only reason for the 4 point variance is the time at which your score was generated. In this example, something happened between the 15th and the 1st of the following month with your profile which resulted in a 4 point gain.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 03:41:10 GMT

Oh wow. Okay so that makes sense. This actually explains why the scores were different.

I never even read them just saw the score. Thank you for that and for answering my question I appreciate it.

As much as I was thinking of getting the basic one. I may wait now till I really need it and try the Ultimate one since it really is just a little pricey for me to pay that monthly.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 03:49:10 GMT

In the meantime, don't be afraid to try a $1 trial at credit check total. Just cancel within 7 days. With the trial you'll get your 3B credit reports along with your 3 FICO 08 scores. You can do additional $1 trials whenever you'd like (you aren't limited to one) if you're interested to see what has changed on your reports and of course your scores as well.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 03:59:15 GMT

Thank you as well.

I appreciate that, I just wanted to kind of know if it was worth the extra cost verse what I was already receiving. Or if I could work with what I have for rebuilding.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 04:03:24 GMT

Hmm .. really? I never got that option. Weird. I'll have to recheck and see if I can find that. Since I definitely wouldn't mind giving it a shot.

Re: Discover and fico score.

Anonymous — Tue, 24 Apr 2018 13:08:38 GMT

You've never seen the option for the $1 trial at CCT? It's on the very first screen when you go to the web site.

IMO if you do two CCT $1 trials in a month, for $2 total spent you obtain far more than any monthly service can provide. With two $1 trials you can get your 3B reports and scores every week for 4 weeks. I'm not sure how anything else could top that for $2 spent. And, you only need to do that during a month that you really need to track your file if you have lots of things going on and/or changing. If you go a period of 2-3 months where not much is happening, you don't need to do any $1 trials... and you won't be throwing away $30/mo (or more) for a monthly membership when there's not much for you to see during that time.

Re: Discover and fico score.

Anonymous — Tue, 27 Nov 2018 05:16:06 GMT

I was searching for some answers and came across this (older)thread. When i sign into my discover card, my fico score says 752, but when i sign into experian or scorecard.com they both say 682. That is a huge difference. I guess they use 2 completely different scoring systems. So i suppose my more accurate score is the 681 then? Thanks!

Re: Discover and fico score.

Ardecko — Tue, 27 Nov 2018 06:12:32 GMT

As was already mentioned here, you're looking at scores from two different credit reporting agencies.

But, if you're seeing that much variance, there's something on one that's not on the other.

You can get a report only/no scores dump for TU at trueidentity.com and refresh it daily. Don't bother looking at scores there, they're not FICO. Compare payment histories, number of accounts, age of accounts, collections, balances with the data from your EX report. You'll find the difference, they always do.

Re: Discover and fico score.

Anonymous — Tue, 27 Nov 2018 06:15:06 GMT

@Anonymous wrote:
I was searching for some answers and came across this (older)thread. When i sign into my discover card, my fico score says 752, but when i sign into experian or scorecard.com they both say 682. That is a huge difference. I guess they use 2 completely different scoring systems. So i suppose my more accurate score is the 681 then? Thanks!

They're all accurate and uses the same scoring model, FICO 8, what's different is the credit bureau used. Both Experian.com and creditscorecard.com uses data from Experian (that's why they're the same) whereas Discover card accounts uses data from Transunion. Sounds to me like you have derogatory information reporting to Experian but not Transunion.

Re: Discover and fico score.

Anonymous — Tue, 27 Nov 2018 13:21:37 GMT

A 70 point variance between two scores from the same scoring model suggests only one of two things. One, a dramatic difference in utilization (very high or near maxed out verses very low) or the presence of a negative item on the lower score bureau report that isn't there on your higher score bureau report.

Your best bet is to obtain copies of your two reports and compare them. If you find a negative item present that should be there on the one report, you need to dispute it and get it removed. The moment that happens, your score would bump up to something in the range of your other (higher) score.

Re: Discover and fico score.

Anonymous — Tue, 27 Nov 2018 16:10:39 GMT

You are correct. I have nothing bad on transunion but experian has 1 bad acct from almost 7 years ago. That must be the difference. My utilization on both are around 18%. And everything else besides that is pristine. Think I will wait until that falls off to app for Amex. That should bring my score up a bit. Im sure that lower score is what they would pull. Ive busted my butt for the past 3 years working on my credit profile. Thank you all once again, so glad to have this community to come to when I have questions. You all rock!

Re: Discover and fico score.

Anonymous — Tue, 27 Nov 2018 23:01:10 GMT

When do you anticipate it falling off? What is the severity (type) of negative item?

If it's causing a ~70 point impact, that suggests that it's a major negative item... so something like a 90+ day late, collection, CO, etc. I'm just curious what it is. You'll definitely see a nice score gain once that dirty account is no longer a factor.

Re: Discover and fico score.

Anonymous — Wed, 28 Nov 2018 06:31:49 GMT

Yes, it was back over 6 yrs ago when i was still very irresponsible with my credit and never even paid it. It was an $800 care credit bill. I have since, after rebuilding and learning to use credit wisely and learned about utilization etc that i now have a new care credit acct with a $12k limit. Among many other cards, all in excellent standing and low util. It will fall off July 1, 2019. Hopefully then, my fico will go up. This debt is not on my EQ or TU reports.

Re: Discover and fico score.

RonM21 — Wed, 28 Nov 2018 13:14:49 GMT

That will be nice when that care credit bill falls off! To your original question, I also have Discover and get the Transunion score. Like everyone said , it is the same and the only difference between it and a Transunion Fico 8 score seen elsewhere would be the date the score was pulled.

Re: Discover and fico score.

Anonymous — Wed, 28 Nov 2018 13:26:57 GMT

@Anonymous wrote:
Yes, it was back over 6 yrs ago when i was still very irresponsible with my credit and never even paid it. It was an $800 care credit bill. I have since, after rebuilding and learning to use credit wisely and learned about utilization etc that i now have a new care credit acct with a $12k limit.

This may be an account you can get removed with a GW request. I was in the same boat as you with Synchrony, also with a Care Credit account. The first account was dirty (120+ day late and a couple of 60's) from 3 years prior, but my current Care Credit account at the time looked much better. Using the newer Care Credit account and my Lowe's accounts as references for sound financial behavior, ultimately Synchrony did remove the negative information from my older dirty account.

Another thing you could look toward is requesting early exclusion of the dirty account, which from what I understand can sometimes happen 6 months before the 7 year mark... which is close to where you're at.

Re: Discover and fico score.

Anonymous — Wed, 28 Nov 2018 21:31:24 GMT

Wow BBS, that is excellent advice! How would I go about asking for an early exclusion? I have no clue where to go or how to request any of that kind of stuff. Any information would be very helpful! Thanks!!