topic Re: Need Help Please in General Credit Topics

Need Help Please

Anonymous — Sat, 23 Mar 2013 22:19:56 GMT

There's a credit monitoring product offered by Equifax credit bureau called "Score Watch". As per them, it is FICO score. Does anyone have experience with that product and if yes, is it same as Score Watch offered by myfico?

I monitor my EQ FICO using that product. On Mar 18, I applied for a chase freedom CLI and right after a few days received a letter from Chase in which my Equifax FICO score was stated as 708. On the same date, my FICO score as per that Equifax SW product was 674. I just refreshed it & even as of today, it is 674.

Can someone please address this ambiguity?

Re: Need Help Please

Anonymous — Sat, 23 Mar 2013 23:01:04 GMT

Did they give you the score range on that letter?

Re: Need Help Please

Anonymous — Sat, 23 Mar 2013 23:04:18 GMT

Yes they did.

Its 250-900

Re: Need Help Please

Anonymous — Sun, 24 Mar 2013 00:12:56 GMT

The BankCard enhanced versions of both Beacon 5.0 and Beacon 9 have a range of 250-900. They are both FICOs just a diferent version. This particular one is used for CC.

Re: Need Help Please

Anonymous — Sun, 24 Mar 2013 02:13:52 GMT

Thanks a lot guiness56 for your feedback.

So the FICO score offered by myfico isn't used Credit Card lenders? I'm not sure if I fully get you.

Re: Need Help Please

Anonymous — Sun, 24 Mar 2013 02:29:07 GMT

There are many different flavors of FICO. Not every lender/creditor uses the same one.

They are all FICO scores just different versions. If you were to see all of your scores from all the different creditors you have they will probably all be different based on the version they used.

Re: Need Help Please

llecs — Sun, 24 Mar 2013 20:29:13 GMT

Ditto, lenders can pick and choose what kind of FICO score, if any, they want to use. Some use the one on here, and others don't.

EQ's version of SW is similar to the one on here, with a few differences in the layout.