topic Re: EQ04 in General Credit Topics

EQ04

cartwrna — Fri, 20 Feb 2015 19:27:27 GMT

Had DCU pull my EQ04 this morning and it came back at a 676 compared to my 706 FICO08.

Re: EQ04

SunriseEarth — Fri, 20 Feb 2015 19:37:28 GMT

@cartwrna wrote:
Had DCU pull my EQ04 this morning and it came back at a 676 compared to my 706 FICO08.

If you have questions regarding why the scores differ, you may want to post in "Understanding FICO Scoring" to learn more.

Re: EQ04

cartwrna — Fri, 20 Feb 2015 19:59:24 GMT

No, I understand the scoring. Just wanted to post Incase anyone does a search in regards to how scores compare and how different they can be

Re: EQ04

takeshi74 — Sat, 21 Feb 2015 14:24:34 GMT

They really should be looking in the Understanding FICO Scoring subforum as well.

Re: EQ04

cartwrna — Sat, 21 Feb 2015 14:35:19 GMT

Not only is this an example of how the scores may differ, but also an update for the rebuilding forum to show what accomplishments I have made. I frequently post updates to score changes etc

Re: EQ04

racer-x — Sun, 22 Feb 2015 15:36:47 GMT

What I don't get is, what's the sense in having an 08 score?

If 04 is for mortgages, Auto 8 for cars, bankcard 8 is for credit cards....what is 08 used for? Insurance quotes/premiums?

Re: EQ04

ddemari — Tue, 24 Feb 2015 01:24:21 GMT

most credit card companies use fico 08 for credit cards. Some do a bankcard credit score more than likely you will get a regular fico 08 score for approval for credit card/ bank loans.

Re: EQ04

racer-x — Tue, 24 Feb 2015 01:47:22 GMT

@cartwrna wrote:
Had DCU pull my EQ04 this morning and it came back at a 676 compared to my 706 FICO08.

But what is your EQ Fico 5? That is the equivalent to the EQ 04 that DCU pulls. You have to get the myFico 3B reports to see the mortgage, auto, bankcard scores.

I too have DCU and it is spot on my EQ Fico 5 but the DCU score is 30 or so lower than my myFICO EQ 08.

Re: EQ04

racer-x — Tue, 24 Feb 2015 01:48:47 GMT

I know US Bank uses Bankcard Classic 04...as recent as last month. Got the denial in print to prove it. lol.

Re: EQ04

cartwrna — Tue, 24 Feb 2015 01:52:43 GMT

DCU uses EQ04

Re: EQ04

cartwrna — Tue, 24 Feb 2015 01:53:46 GMT

And my EQ04 is exactly 30pts lower than FICO8

Re: EQ04

racer-x — Tue, 24 Feb 2015 01:58:00 GMT

@cartwrna wrote:
And my EQ04 is exactly 30pts lower than FICO8

I understand that DCU is 04...what is your myFICO EQ 04?

Re: EQ04

cartwrna — Tue, 24 Feb 2015 02:29:00 GMT

You can get your EQ04 directly from Equifax website under there products tab. $19.99 for one time pull.

Re: EQ04

cartwrna — Tue, 24 Feb 2015 02:29:33 GMT

If you go that route make sure you get the FICO version because they also offer an internal EQ score.

Re: EQ04

gdale6 — Tue, 24 Feb 2015 03:15:37 GMT

@racer-x wrote:
I know US Bank uses Bankcard Classic 04...as recent as last month. Got the denial in print to prove it. lol.

Cap-1 uses 04 basic, my local CU uses 04 V2 the mortgage score for all their products including CC, so not all the big banks have switched to Fico 08 as some of us had thought.

Re: EQ04

racer-x — Tue, 24 Feb 2015 03:32:13 GMT

@cartwrna wrote:
You can get your EQ04 directly from Equifax website under there products tab. $19.99 for one time pull.

I know i know. I have every credit monitoring service known to man. I spend over $200 month easily. I'm an idiot.

I thought you were comparing your DCU score to your fico EQ 08 score. I was under the impression that you didn't know what your fico EQ 04 score was.

Guess I was confused why you were comparing DCU 04 to fico 08. That's really like apples and oranges.