topic Re: MYfico EQ score 25 pts higher than car dealer received in General Credit Topics

MYfico EQ score 25 pts higher than car dealer received

Anonymous — Mon, 20 Aug 2012 18:29:44 GMT

I thought that this sites score was supposed to reflect as close as possible to the real score we get when we get our credit checked from a car dealer or CC company? I recently checked my score here and then the next day went to Honda to lease a new car. When they pulled my credit, EQ score they received was 25 pts lower than this sites score. I went back that night and paid for an update, and the Myfico score was the same as the days before. Is this site not accurate anymore?

Re: MYfico EQ score 25 pts higher than car dealer received

Jlu — Mon, 20 Aug 2012 18:42:35 GMT

The dealer is more than likely using the Auto version of FICO which puts more weight on installment loan history. I think it's FICO 04.

Re: MYfico EQ score 25 pts higher than car dealer received

GregB — Mon, 20 Aug 2012 22:36:17 GMT

The EQ score here will match exactly the EQ score used on a mortgage. Car dealers and CC companies have the ability to use that version of FICO, an earlier/later version, and/or the auto or CC industry option of any of those scores. They also may use a non-FICO credit score.

Look at the information provided with the credit score that they pulled. Does it say FICO?. What is the score range? If it says FICO and the range is greater than 300-850, that will tell you that it is industry enhanced FICO. Industry option FICOs have a theoretical range that is 250-900. However, sometimes they will tell you the exact range so that you can get a better idea of the exact score they used.

Regardless, a difference of 25 points is pretty close so the EQ FICO from here gave you a good idea of your score for that lender.