topic Re: Truecredit in General Credit Topics

Truecredit

Anonymous — Fri, 01 Oct 2010 14:11:04 GMT

So I have been using Truecredit for about a year. I have been content with my 750-780 credit score. When one day (today) I decide to test my blissful ignorance, and Google "Truecredit scoring accuracy". After doing a lot of reading (on this, and other forums) I discovered that that score was not a real FICO score, and lenders use the score that THIS site provides. After doing the free trial for this site I was totally shocked! My score was waaaaaaaaay off on True Credit!

True Credit score (today): 780

myFICO score (today): 655

Wooooow! Here I thought I was doing great, when it turns out that I still had a ton of work to do on my credit! It's a good thing I decided to check into the differences in the scoring models this morning! After listening to some person I could barely understand for about 5 minutes *tip* (Just turn your brain off and let them rant) I managed to cancel my subscription w/ them.

What an eye opener!

Re: Truecredit

llecs — Fri, 01 Oct 2010 14:19:13 GMT

That's a big difference! TC offers VantageScores (a FAKO) that runs on a scale from 501-990, whereas FICO uses a scale of 300-850.

The scores and advice are useless on TC, but the report info is OK. There's no service out there that allows all 3 reports and FICO scores. TC is good if you only need to check once a month. There are other services like CCT that allows you to check all 3 daily, but, again, the scores and advice are useless.

ETA....Welcome to the Forums!

Re: Truecredit

Anonymous — Fri, 01 Oct 2010 14:23:42 GMT

Yea, I was using the TC service for the score more than the report (I am content with seeing that on the free credit report site once per year). I do pretty well with paying my bills, but apparently the negatives that show up on this sites score (and not on TC's score) are the stuff from back in 2006 (in my poor college student days). I had many a 60 and 90+ negative reports from back then. The drop off is 7 years right?

Re: Truecredit

llecs — Fri, 01 Oct 2010 14:55:47 GMT

Right, lates fall off at 7 yrs.

Re: Truecredit

Anonymous — Fri, 01 Oct 2010 16:25:29 GMT

As others have said, Truecredit scores are on a different scale than FICO. But the percentage of my Trucredit to my FICO score (ran on the same day and based on my TransUnion report) is 118%, which is consistent with the scores you provided.

Re: Truecredit

RobertEG — Sat, 02 Oct 2010 03:07:30 GMT

redhunter, that may have been your personal experience in attempting to compare a FICO with a non-FICO score, but no such direct comparison exists.

Not only are the scoring ranges different, the nuts and bolts within the scoring algorithms used by each are totally independent.

I would never attempt to predict a FICO score based on a score generated elsewhere.

Re: Truecredit

laz98 — Sat, 02 Oct 2010 18:11:19 GMT

as an example, my TU score on TC is 772. nowhere near my lowly little score

Re: Truecredit

marty56 — Sat, 02 Oct 2010 23:06:02 GMT

FAKO + $15 here = your FICO score every time.

You can't even assume parity in that if your FAKO score changes, your FICO score will change in the same direction or at all for that mater.

Re: Truecredit

GregB — Sun, 03 Oct 2010 15:21:48 GMT

Truecredit monitoring & reports = OK

Truecredit score = poor

Your TC score: 780

Your TU FICO: 655

My TC score: 768

My TU FICO: 737

Different algorithm based upon different information.

Re: Truecredit

cascade159 — Mon, 04 Oct 2010 20:42:15 GMT

I keep Truecredit for unlimited pulls (daily) to see my TU report. The score is useless and very confusing.

Re: Truecredit

Anonymous — Wed, 06 Oct 2010 14:23:54 GMT

Wish I would have looked into all this sooner! Here I thought I was in the credit maintenance phase and it turns out I still need about 100 points of improvement. =-P I still canceled my TC subscription though, because my bank USAA has a three credit agency monitoring for $12 that I heard was good (plus trying to cancel my TC subscription made me realize how slimy they are).

Re: Truecredit

GregB — Wed, 06 Oct 2010 16:40:52 GMT

The Truecredit reports are really nice in that they highlight the changes from your last report. Daily pull of TU and monthly on all 3 is nice also. Scores and reasons are the biggest problem. There seem to be good points and bad points to all of the monitoring services.

I want the speed of reporting of EX; The change reports and daily pulls of Truecredit, and the scores of myFICO. Oh, and WITH the ability to get an EX FICO.