topic Re: Auto Refiance FICO Score Question in Understanding FICO® Scoring

Auto Refiance FICO Score Question

creditstalker — Tue, 07 Jul 2015 19:17:58 GMT

Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion

643 Auto 08 score

632 Auto 04 score

Equifax

633 Auto 08 score

604 Auto 05 score

Experian

637 Auto 08 score

674 Auto 02 score

Re: Auto Refiance FICO Score Question

Anonymous — Tue, 07 Jul 2015 19:22:58 GMT

@creditstalker wrote:
Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion
643 Auto 08 score
632 Auto 04 score

Equifax
633 Auto 08 score
604 Auto 05 score

Experian
637 Auto 08 score
674 Auto 02 score

Ask them what score they use. It will vary from one to another. Some may not even use the Auto score and just use the standard FICO 8 score or FICO 4 score. I would shop around and try to find one the uses EX Auto 2 score....

Re: Auto Refiance FICO Score Question

creditstalker — Tue, 07 Jul 2015 19:41:54 GMT

@Anonymous wrote:
@creditstalker wrote:
Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion
643 Auto 08 score
632 Auto 04 score

Equifax
633 Auto 08 score
604 Auto 05 score

Experian
637 Auto 08 score
674 Auto 02 score

Ask them what score they use. It will vary from one to another. Some may not even use the Auto score and just use the standard FICO 8 score or FICO 4 score. I would shop around and try to find one the uses EX Auto 2 score....

Thanks Norman, but I would I know if it is the Auto 2 Score,, what would it be equivalent to?

Re: Auto Refiance FICO Score Question

Anonymous — Tue, 07 Jul 2015 20:09:42 GMT

@creditstalker wrote:
@Anonymous wrote:
@creditstalker wrote:
Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion
643 Auto 08 score
632 Auto 04 score

Equifax
633 Auto 08 score
604 Auto 05 score

Experian
637 Auto 08 score
674 Auto 02 score

Ask them what score they use. It will vary from one to another. Some may not even use the Auto score and just use the standard FICO 8 score or FICO 4 score. I would shop around and try to find one the uses EX Auto 2 score....
Thanks Norman, but I would I know if it is the Auto 2 Score,, what would it be equivalent to?

Its not "equivalent" to anything - it is what it is.

Front line CSR's may not even know what scoring model is used, you may have to call and ask for a credit analyst.

Re: Auto Refiance FICO Score Question

creditstalker — Tue, 07 Jul 2015 20:11:29 GMT

@Anonymous wrote:
@creditstalker wrote:
@Anonymous wrote:
@creditstalker wrote:
Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion
643 Auto 08 score
632 Auto 04 score

Equifax
633 Auto 08 score
604 Auto 05 score

Experian
637 Auto 08 score
674 Auto 02 score

Ask them what score they use. It will vary from one to another. Some may not even use the Auto score and just use the standard FICO 8 score or FICO 4 score. I would shop around and try to find one the uses EX Auto 2 score....
Thanks Norman, but I would I know if it is the Auto 2 Score,, what would it be equivalent to?
Its not "equivalent" to anything - it is what it is.
Front line CSR's may not even know what scoring model is used, you may have to call and ask for a credit analyst.

Oh okay, I know that some call the FICO 5 score the BEACON 5

Re: Auto Refiance FICO Score Question

2b2rich — Tue, 07 Jul 2015 20:30:27 GMT

I've had two different CUs in two different states, pull my credit (EQ for one, and TU for the other) and the one who pulled EQ I saw the sheet and it said Beacon 750 (my EQ FICO8 is 710) and the one who pulled TU, told me my score was a 750 (my TU FICO8 is 750).

Both of these were pulled in order to apply for auto refinancing.

Re: Auto Refiance FICO Score Question

Anonymous — Tue, 07 Jul 2015 20:47:06 GMT

@creditstalker wrote:
@Anonymous wrote:
@creditstalker wrote:
@Anonymous wrote:
@creditstalker wrote:
Which FICO credit score will the Credit unions pull? Will credit unions pull these scores?

Transunion
643 Auto 08 score
632 Auto 04 score

Equifax
633 Auto 08 score
604 Auto 05 score

Experian
637 Auto 08 score
674 Auto 02 score

Ask them what score they use. It will vary from one to another. Some may not even use the Auto score and just use the standard FICO 8 score or FICO 4 score. I would shop around and try to find one the uses EX Auto 2 score....
Thanks Norman, but I would I know if it is the Auto 2 Score,, what would it be equivalent to?
Its not "equivalent" to anything - it is what it is.
Front line CSR's may not even know what scoring model is used, you may have to call and ask for a credit analyst.
Oh okay, I know that some call the FICO 5 score the BEACON 5

Ok, I see what you were getting at there - AFAIK, only the Equifax scores are referred to as "Beacon". I have no idea why they get their own *special* name.

Re: Auto Refiance FICO Score Question

creditstalker — Thu, 09 Jul 2015 12:57:16 GMT

So, I had the credit union pull my credit, and they used my Equifax Mortgage Score!!!! I decided not to go with the credit union because my Equifax Mortage Score is a 594.

I found a credit union who only pulls experian, because my EX scores are in the mid 600's (FICO 08 is 614 and my mortage score is 642 and autoloan score is 674.)

Re: Auto Refiance FICO Score Question

Anonymous — Thu, 09 Jul 2015 19:37:00 GMT

@creditstalker wrote:
So, I had the credit union pull my credit, and they used my Equifax Mortgage Score!!!! I decided not to go with the credit union because my Equifax Mortage Score is a 594.

I found a credit union who only pulls experian, because my EX scores are in the mid 600's (FICO 08 is 614 and my mortage score is 642 and autoloan score is 674.)

I just went through this with my local CU. I wish I'd been more proactive and asked to be passed up the line BEFORE applying. They made it sound totally secretive which EX they pull. I think they were really just clueless on the front line. AFTER we went with DCU (no idea which EQ they pulled) I had a few different questions for a loan 'higher up' at my local CU and she still wouldn't come out and say it, but when I said it appeared they used my mortgage EX, she didn't say no. I'd assumed that since they use the same pull for cars, CC's, personal loans, it'd be a Fico 8. I assumed wrong. I was very clear with her that their policies (and a couple other screw ups) cost them an auto loan to a CU across the country with the same rate they SHOULD have offered us before we bought the car and did offer us after we'd already gone with DCU.

She made it sound like if they chose to get different scores for different purposes it would cost more so they just get the mortgage scores. But again, very careful wording.

Re: Auto Refiance FICO Score Question

Revelate — Sat, 11 Jul 2015 05:22:56 GMT

@Anonymous wrote:
@creditstalker wrote:
So, I had the credit union pull my credit, and they used my Equifax Mortgage Score!!!! I decided not to go with the credit union because my Equifax Mortage Score is a 594.

I found a credit union who only pulls experian, because my EX scores are in the mid 600's (FICO 08 is 614 and my mortage score is 642 and autoloan score is 674.)
I just went through this with my local CU. I wish I'd been more proactive and asked to be passed up the line BEFORE applying. They made it sound totally secretive which EX they pull. I think they were really just clueless on the front line. AFTER we went with DCU (no idea which EQ they pulled) I had a few different questions for a loan 'higher up' at my local CU and she still wouldn't come out and say it, but when I said it appeared they used my mortgage EX, she didn't say no. I'd assumed that since they use the same pull for cars, CC's, personal loans, it'd be a Fico 8. I assumed wrong. I was very clear with her that their policies (and a couple other screw ups) cost them an auto loan to a CU across the country with the same rate they SHOULD have offered us before we bought the car and did offer us after we'd already gone with DCU.

She made it sound like if they chose to get different scores for different purposes it would cost more so they just get the mortgage scores. But again, very careful wording.

DCU uses Beacon 5.0 every time all the time.

Depends on the CU but most CU's underwrite everything on a single model with the exception of mortgages... and a non-trivial number of CU's use one of the mortgage trifecta in my experience too. FICO 8 is mostly in the major CC issuers and auto lenders these days as I understand it.