topic Fico 3-B ULTIMATE in General Credit Topics

Fico 3-B ULTIMATE

damnedanddetermined — Wed, 12 Aug 2015 12:27:11 GMT

updates QUARTERLY....does this mean you get CR every three months? Just curious as comparing to the regular 3B package...any ideas?

Re: Fico 3-B ULTIMATE

Anonymous — Wed, 12 Aug 2015 12:34:46 GMT

Yes, you get a report quarterly. I just signed back up and went with ultimate.

Re: Fico 3-B ULTIMATE

Kelsey_H — Wed, 12 Aug 2015 20:28:15 GMT

@damnedanddetermined wrote:

updates QUARTERLY....does this mean you get CR every three months? Just curious as comparing to the regular 3B package...any ideas?

In addition to 3-bureau credit monitoring and FICO Score 8 updates, FICO Ultimate 3B gives you access to a new 3-bureau credit report and the 19 most widely used FICO Score versions every quarter (about every 3 months).

Re: Fico 3-B ULTIMATE

takeshi74 — Thu, 13 Aug 2015 12:12:27 GMT

@damnedanddetermined wrote:
updates QUARTERLY....does this mean you get CR every three months? Just curious as comparing to the regular 3B package...any ideas?

You get the 19 FICO scores and 3 bureau reports quarterly. Monitoring updates take place as trigger activity causes updates.

The FICO Score 3B Report provides the above one time without monitoring.

Re: Fico 3-B ULTIMATE

Anomalous — Thu, 13 Aug 2015 18:10:05 GMT

Hmmm... didn't know there was yet another 3B edition. I'm still on the old $21.95 plan.

I guess when my year is up in September, I'll decide how to proceed. Sometimes the score alerts can be nerve wracking.

Re: Fico 3-B ULTIMATE

Anonymous — Thu, 13 Aug 2015 18:39:13 GMT

I just upgraded to ultimate 3b as well. If you originally subscribed to the ultimate plan you will need to call My Fico and have them cancel the original in order to upgrade. They will prorate your account for any unused days at the time you upgrade. Same price but new reports every three months.

Re: Fico 3-B ULTIMATE

Anonymous — Thu, 13 Aug 2015 18:53:27 GMT

Couldn't you jsut sign up and then cancel at the end of your month? And then sign back up again in a few days or week?

Re: Fico 3-B ULTIMATE

Bug101 — Mon, 07 Sep 2015 06:27:02 GMT

I just realized that I am only getting 6 fico scores from the ultimate and not the 19 as promised and paid for. Whats is worse, it is missing fico 4 which Freddie and Fannie use and matters most for mortgages. From my research, Fico 8 is primarily used by major credit card companies and some major auto companies.

Re: Fico 3-B ULTIMATE

Anonymous — Mon, 07 Sep 2015 22:23:40 GMT

I don't know how you research which version of Fico is being used because every time I ask my bank or credit union which version they would pull they are dumbfounded. They claim to not know there are different versions. And these people handle my money.

Re: Fico 3-B ULTIMATE

Bug101 — Mon, 07 Sep 2015 22:43:52 GMT

Either your bank rep is not telling you the truth or he/she is not as knowledgable as they claim. It is in Freddie and Fannies rules as to which scoring they will accept and fico 4 is the one. Which is Ver outdated and they know it. There has been a lot of press and consumer groups trying to convince them to upgrade for many years and as of now they refuse.

Any bank who plans to have their loans backed by Freddie or Fannie (which is 90 percent plus) must follow their rules.Fico knows this to be a fact because they have been trying as well to get the to upgrade to a new model for years. So for them showing fico 8 and any others as primarily used for mortgages is completely FALSE.

I just learned this and feel TOTAlLY cheated by myfico and wonder how much I can trust them now. Especially when I was promised 19 scoring models and only got 6, I plan to call them tomorrow about this.

Re: Fico 3-B ULTIMATE

Anonymous — Tue, 08 Sep 2015 00:33:30 GMT

I got all 19 scores. 7 for experian, and 6 each for TransUnion and Equifax. If you're on a computer, just click the link on the dashboard page under your 3 Fico8 scores that says "View additional FICO score versions used in mortgage, auto, and bankcard decisions" It'll show the other scores seperated by each of the CRA's, and the name of the score model.

Re: Fico 3-B ULTIMATE

Bug101 — Tue, 08 Sep 2015 00:57:10 GMT

I have those as well, however,mortgage companies use fico 4, makinng that one the most IMPORTANT one of all. Fico knows this fact so why they are claiming Fico 8 is for mortgages is just not true. This is also why people are finding the Fico scores they get from myfico is not matching their scores when applying for a mortgage. When over 90 percent of all mortgages go through Freddie and Fannie, how can myfico claim Fico 8 and the other one is primarily used by mortgage companies? This is false and very misleading. Credit cards, auto loans and personal loans do vary from the other models but over 90 percent of mortgages MUST use Fico 4 so why they are not giving it as well is just wrong.

again I say this because Fico has been trying to sell their updated Fico models to Freddie and Fanniem for YEARS. They even created Fico 9 in order to compete with vantage who has been desperately been tryingm to get them to buy their model as well.

Re: Fico 3-B ULTIMATE

iv — Tue, 08 Sep 2015 01:15:25 GMT

@Bug101 wrote:
Especially when I was promised 19 scoring models and only got 6, I plan to call them tomorrow about this.

Umm... If you only see 6 in "FICO Score Versions", I strongly suspect you missed the little tabs on top, to toggle between the CRAs - you'll see six scores from EQ by default, but if you click on TU, you'll see six different scores, and if you click EX, you'll see seven different scores. 6+6+7=19.

Re: Fico 3-B ULTIMATE

iv — Tue, 08 Sep 2015 01:19:35 GMT

@Bug101 wrote:
I just realized that I am only getting 6 fico scores from the ultimate and not the 19 as promised and paid for. Whats is worse, it is missing fico 4 which Freddie and Fannie use and matters most for mortgages. From my research, Fico 8 is primarily used by major credit card companies and some major auto companies.

On the MyFICO 3-B Score Report, the scores used for mortgages are:

Equifax FICO Score 5
Experian FICO Score 2
TransUnion FICO Score 4

That's the set that is frequently (but not quite correctly) referred to here as "FICO04", and will be exactly the three a mortgage lender will pull.

Re: Fico 3-B ULTIMATE

Anonymous — Tue, 08 Sep 2015 02:10:44 GMT

Just for Clarification...

My copy of my lender pull shows:

Equifax Beacon 5.0

Experian Fair Isaac V2

Trans Union Fico Risk Score Classic 04

Re: Fico 3-B ULTIMATE

Kelsey_H — Wed, 09 Sep 2015 23:29:35 GMT

@Bug101 wrote:

I just realized that I am only getting 6 fico scores from the ultimate and not the 19 as promised and paid for. Whats is worse, it is missing fico 4 which Freddie and Fannie use and matters most for mortgages. From my research, Fico 8 is primarily used by major credit card companies and some major auto companies.

Hi there,

Each of the FICO Score products offered at myFICO.com include FICO Score versions. To view your most recently obtained other FICO Score versions, simply log in and click the link that says “View additional FICO Score versions used in mortgage, auto and bankcard decisions.” It’s located directly under your FICO Score 8 from each bureau. You can also click the Scores tab in the top navigation bar from any page once logged into your member center record. If you continue to have trouble viewing your FICO Score versions, please call customer service so they can assist you: 1-800-319-4433.

The FICO Scores most commonly used in mortgage loan lending are FICO Score 2 based on Experian data, FICO Score 5 based on Equifax data and FICO Score 4 based on TransUnion data – which is why we include them in any myFICO credit report pull (including FICO Ultimate 3B and FICO Score 3B Report). For more information about FICO Score versions, check out our education page on the topic: http://www.myfico.com/CreditEducation/FICO-Score-Versions.aspx

Hope that helps!

Re: Fico 3-B ULTIMATE

Bug101 — Thu, 10 Sep 2015 02:47:18 GMT

Thanks to all of your comments you have helped me with my confusion regarding the reports. Thank you all.

You guys really are a GREAT community for this stuff.

Thanks again.