topic Re: Mortgage refinance credit score in General Credit Topics

Mortgage refinance credit score

rapprt — Mon, 02 Feb 2015 15:42:58 GMT

I have been on this site for a copuple of months and they have my credit score as 630-670. When Citibank pulled my credit report it came up as 603. Why such a big differential between this site and the actual score?

Re: Mortgage refinance credit score

Anonymous — Mon, 02 Feb 2015 16:55:52 GMT

This site provides the FICO 08 scoring model (although they just added the ability to retrieve your mortgage, auto enhanced and Bankcard scores if you pay for an upgraded report). Mortgage finance companies typically use the FICO 04 scoring model and there can be significant differences between those scores. There are approximately 50 versions of FICO and most of them will not show identical scores

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-versions-and-variations/td-p/1197617

Re: Mortgage refinance credit score

MidnightVoice — Mon, 02 Feb 2015 20:08:02 GMT

Just got my scores from a USBank mortgage credit pull, and CK scores were much closer to those than the scores I had to pay for here.

So I know where to get my scores in future!

Re: Mortgage refinance credit score

HiLine — Mon, 02 Feb 2015 23:56:46 GMT

Here you go: http://ficoforums.myfico.com/t5/General-Credit-Topics/More-scores-from-myFICO-aka-best-consumer-friendly-update-EVER/td-p/3769888

Re: Mortgage refinance credit score

takeshi74 — Tue, 03 Feb 2015 16:14:22 GMT

@rapprt wrote:
Why such a big differential between this site and the actual score?

There's no such thing as "the actual score". There are many different scoring models used by creditors. You cannot rely on a score generated by one scoring model to determine a score generated by an entirely different model even if both models are FICO's. You should expect different algorithms to produce different results.

If you want an idea of what score a creditor is pulling for you then you need to be aware of what scoring model they use and what CRA is used as the data source. However, if the data differs because scores were generated on different dates then the scores can differ as well.

@MidnightVoice wrote:
Just got my scores from a USBank mortgage credit pull, and CK scores were much closer to those than the scores I had to pay for here.

So I know where to get my scores in future!

Don't assume that one instance of closer means that the models will always be close if the same model is not used for both sources. Two different models can be coincidentally close one time and not the next time. As always coincentdal != causal.

Re: Mortgage refinance credit score

Anonymous — Thu, 23 Apr 2015 23:09:32 GMT

Just to add to that, everything from the amount of debt being reported by each tradeline, to the activity on each tradeline, from day to day, and the amount of credit history one has, all impact the credit scores reflected on the credit report. Depending on the date and time each tradeline posts payments, and the overall activity on ones credit, such as credit inquiries, will affect the credit score up and down from the last, at any given time.