topic Re: Difference between MyFico Transunion 98 and Transunion 04 Scores in Understanding FICO® Scoring

Difference between MyFico Transunion 98 and Transunion 04 Scores

Anonymous — Tue, 07 Jul 2009 16:32:45 GMT

myFico uses Transunion 98 and my bank uses Transunion 04 - however my score differs by 30 points higher on myFico 98 score. My question is I am 7 points away from my middle score reaching the 620 score for a loan and not sure what to focus on. What are the main calculations differences between the 98 & 04 that makes such a big difference?

I do not want to keep my bank pulling hard pulls on my credit report as I step slowly to 620, is there anywhere I can get a Transunion Classic 04 report? Thanks

Message Edited by oj1963 on 07-07-2009 09:32 AM

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

llecs — Tue, 07 Jul 2009 18:12:18 GMT

Unfortunately, the only place to get TU04 is from your lender. Many of us are pressing for the switch on myFICO.

TU04 is lower for most. I have no clue what the differences are. Maybe someone else can chime in. However, you can pick up a clue or two if you were to visit FICO.com. They have webinars posted from time to time that make mention of TU04 characteristics.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

2wheel — Tue, 07 Jul 2009 21:32:32 GMT

Mine was 28 point diffrence from 04 version here it says 729 but 04 version says 701 which got me thinking if I am paying a few dollars a month for my fico score here am I wasting my money? If it really isnt a ( true fico) score? Well maybe a true fico score..... but if lenders are not using 98 anymore and are using the 04 version I am wasting my time pulling transunion.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

brownee — Wed, 08 Jul 2009 17:19:40 GMT

My TU score here on fico is 638..my lender has me at 654 using TU 04. On my husband's TU here on fico it shows 617 and the lender has it at 596. Crazy!

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Anonymous — Wed, 08 Jul 2009 23:33:50 GMT

I read all over myFico forums that this is the only real FICO, but thats not true. Almost all mortgage companies use FICO Classic 04 and myFico uses 98. I cannot find anywhere to purchase 04 except from lender. But, I guess what I have read all over the internet the common scenerio is what ever score you get here subtract 30 and thats what the lender will pull. I am just trying to find out what is the major difference in the calculation - or whats was changed in 04?

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Anonymous — Fri, 10 Jul 2009 21:54:54 GMT

oj1963 wrote:
I read all over myFico forums that this is the only real FICO, but thats not true. Almost all mortgage companies use FICO Classic 04 and myFico uses 98. I cannot find anywhere to purchase 04 except from lender. But, I guess what I have read all over the internet the common scenerio is what ever score you get here subtract 30 and thats what the lender will pull. I am just trying to find out what is the major difference in the calculation - or whats was changed in 04?

Not sure what was changed. Obviously, many lenders will pull your FICO scores. However, this is one of the few places a CONSUMER can buy their own FICO scores. I agree though - it is annoying that myFICO is using the old algorithm, while many (most?) lenders are using the 04 algorithm.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Anonymous — Sat, 11 Jul 2009 11:34:30 GMT

I pulled my credit scores on MyFico on Wednesday right before I had my LO do the same.

I pulled a 678 for Transunion 98, my LO pulled a 695 for Transunion 04!

That is a 17 pt difference thankfully it was in my favor (YAY) but I know some people have had thier score go the opposite way. This makes it very difficult to basically "guess" where you are sitting credit wise.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Watchmann — Wed, 15 Jul 2009 04:40:28 GMT

Agree that the TU score we can get is out of date, but it wasn't many years ago consumers had NO access to their profiles and had no idea what was in their files. It was all held in secret by the agencies. At least now we can have a look see, even if it isn't the most up to date product. At least you can track them over a period of time to see if you are improving or not.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Anonymous — Sun, 06 Oct 2013 14:28:49 GMT

But today, just being able to get a glimpse of what those scores really isn't good enough. Whether you know it or not, your world is ruled by the credit score each lendor/CCC uses. Bottom line is that we should have access to that scoring system results BEFORE a lender pulls it and creates an additional inquiry.

Signed,

Frsutrated & Angry

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

bigblue7722 — Mon, 07 Oct 2013 11:14:04 GMT

I think that the only product worth buying on here is your eq score or signing up for score watch. The tu score on here is almost a scam to the average guy just trying to buy his real score. I'm glad I read this forum before I bought anything. The salesman in me has to hand it to myfico they have done a great job making people think these are the scores lenders use when it's 98% not true when it comes to your tu or ex score on here.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Kratos-TM — Mon, 07 Oct 2013 14:07:20 GMT

People are looking at this all wrong. I have enjoyed tracking my TU score on here over the years and although it's not what lenders use, it still gives me a great idea on where I'm at and how I'm improving.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

bigblue7722 — Tue, 08 Oct 2013 03:22:01 GMT

@Kratos-TM wrote:
People are looking at this all wrong. I have enjoyed tracking my TU score on here over the years and although it's not what lenders use, it still gives me a great idea on where I'm at and how I'm improving.

How do you know for 100% your improving if its not the same score lenders use? Like it is defintley two different scores so something that makes your score go up with 98 does not mean it will do the same with 04 or vice versa. Kind of a waste of money if you ask me but to each its own. Also you have to admit myfico miss leads people by saying these are the scores that lenders use when almost no lender uses tu 98 anymore.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Revelate — Tue, 08 Oct 2013 04:36:21 GMT

@bigblue7722 wrote:
I think that the only product worth buying on here is your eq score or signing up for score watch. The tu score on here is almost a scam to the average guy just trying to buy his real score. I'm glad I read this forum before I bought anything. The salesman in me has to hand it to myfico they have done a great job making people think these are the scores lenders use when it's 98% not true when it comes to your tu or ex score on here.

Anecdotally for at least my credit card experience, the EX '08 here tracks best with what lenders appear to be using.

Of course for a mortgage loan, the EQ score here is the gold standard.

This is also a very old thread.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

Kratos-TM — Tue, 08 Oct 2013 13:29:15 GMT

@bigblue7722 wrote:
@Kratos-TM wrote:
People are looking at this all wrong. I have enjoyed tracking my TU score on here over the years and although it's not what lenders use, it still gives me a great idea on where I'm at and how I'm improving.

How do you know for 100% your improving if its not the same score lenders use? Like it is defintley two different scores so something that makes your score go up with 98 does not mean it will do the same with 04 or vice versa. Kind of a waste of money if you ask me but to each its own. Also you have to admit myfico miss leads people by saying these are the scores that lenders use when almost no lender uses tu 98 anymore.

Because once you accomplish the universal rules of credit scoring, the rules will apply to all versions. We all know the drill................Keep CC's at zero except 1. Leave 1-9% on the one with a balance. Pay all bills on time. And don't keep asking for credit you don't need.

We've been hearing that speech for years and we all know it. Do it, and you'll have a high score on ALL versions.

Re: Difference between MyFico Transunion 98 and Transunion 04 Scores

AndySoCal — Wed, 09 Oct 2013 02:02:11 GMT

Is you TUC score your middle score ? First ignore the bureau that has the highest score.. Look the score score reasons that is impacting your score negartively. What can be done to address those score reasons. What is all the information being reported accurate if not address it.