topic Re: TU FICO Risk Score, Classic 04 vs FICO 08 in Understanding FICO® Scoring

TU FICO Risk Score, Classic 04 vs FICO 08

disdreamin — Mon, 29 Dec 2014 20:12:46 GMT

I went back to the lender with whom I applied for an auto loan and inquired about the FICO score they pulled for me. I had pulled my FICO 08 scores here just prior to applying, and when they pulled my scores at the credit union I was shocked! My scores with the CU were about 40 points lower than what showed here on myFICO. I was aware that there were different scoring models, but I'd never personally experienced such a large discrepancy between scores before. Wh y the CU would pull 04 (which sounds like it is more geared toward mortgages than auto loans) is beyond me, given that I was applying for an auto loan.

I know people on these forums are aware of the different models, but I thought I would share my experience as far as the differences between the 08 and 04 TU versions. It really makes me want to maximize my credit scores, knowing that for a mortgage the pulls can be significantly lower!

Re: TU FICO Risk Score, Classic 04 vs FICO 08

Anonymous — Tue, 30 Dec 2014 01:02:00 GMT

My EQ at equifax scrore power 746 myfico EQ 761 a difference of 15 points

Re: TU FICO Risk Score, Classic 04 vs FICO 08

AndySoCal — Tue, 30 Dec 2014 05:17:03 GMT

Keep in mind there is FICO score that is for the auto industry and it has an 04 and 08 version. This another possible reason for the difference in the scores.

Re: TU FICO Risk Score, Classic 04 vs FICO 08

Anonymous — Tue, 30 Dec 2014 05:25:56 GMT

@disdreamin wrote:
I went back to the lender with whom I applied for an auto loan and inquired about the FICO score they pulled for me. I had pulled my FICO 08 scores here just prior to applying, and when they pulled my scores at the credit union I was shocked! My scores with the CU were about 40 points lower than what showed here on myFICO. I was aware that there were different scoring models, but I'd never personally experienced such a large discrepancy between scores before. Wh y the CU would pull 04 (which sounds like it is more geared toward mortgages than auto loans) is beyond me, given that I was applying for an auto loan.

I know people on these forums are aware of the different models, but I thought I would share my experience as far as the differences between the 08 and 04 TU versions. It really makes me want to maximize my credit scores, knowing that for a mortgage the pulls can be significantly lower!

When I refinanced my car (on 12/22/2014), my FICO 08 EXP score on here is 719. CU Pulled Experian, and they came up with 688. Yup, that is not a typo. So i further inquired what version of the FICO they used, the rep couldn't tell me besides saying that they pull Experian. Scoring shows a range of 320-844 which based on my research shows they are using FICO 98. Not even 04. A model which is now 16+ years old. But I was still able to get a much better deal than I was currently at.

So you are right, depending on which version of the FICO version they use, the number CAN and WILL be different. The FICO 08 seems to be used mostly for Credit Cards and Big auto dealerships.

Re: TU FICO Risk Score, Classic 04 vs FICO 08

disdreamin — Thu, 01 Jan 2015 12:51:35 GMT

AndySoCal - pretty certain this was the plain old Classic 04 not the auto version. First, I had the CU branch manager read me everything off the title of the pull, and asked specifically about whether it mentioned auto or anything else. Second, I can't imagine my auto enhanced being that different from what I can access here. I've initiated and paid two auto loans through Honda between 8/10 and now that I would think play in my favor. My thinking is that my TU Classic 04 auto enhanced would have been closer to the TU FICO 8.