topic Re: Experian Score vs. Fico on Experian Data in Rebuilding Your Credit

Experian Score vs. Fico on Experian Data

Anonymous — Thu, 09 Oct 2014 18:26:24 GMT

Just got approved for a home improvement loan with permanent financing. I got the initial disclosures today. It says my score is 693 from Experian. My fico Experian score is much lower-like 645. Anyone know anything about this? Maybe my bank uses the Experian plus score? Or the new fico model that drops medical collections (I have some paid ones still on my report.). I am dumbfounded by this but I am happy about my 4.5% rate. Any thoughts?

Re: Experian Score vs. Fico on Experian Data

dursty87 — Thu, 09 Oct 2014 18:28:57 GMT

It is most likely a different scoring model than what is used here. Did you ask the lender what version they use?

Re: Experian Score vs. Fico on Experian Data

Anonymous — Thu, 09 Oct 2014 18:33:45 GMT

No, I didn't. But I am curious. I think usaa uses the same model based on the data I have.

Re: Experian Score vs. Fico on Experian Data

kjel — Thu, 09 Oct 2014 20:50:26 GMT

Mortgage lenders (including home equity/improvement lines/loans) use the 04 scoring models. MyFICO uses 08 models.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Thu, 09 Oct 2014 20:51:40 GMT

So I guess the 04 models are much kinder on my situation for whatever reason. Strange there would be that much of a difference.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Sun, 12 Oct 2014 12:23:30 GMT

I did find out from a bank director -Fico '04 model.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Sun, 12 Oct 2014 21:49:58 GMT

What is the difference?

Re: Experian Score vs. Fico on Experian Data

Anonymous — Sun, 12 Oct 2014 22:04:27 GMT

About twenty points to the better under the old model.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Mon, 13 Oct 2014 00:04:31 GMT

Thanks. So how does it work? I thought they ordered your score from FICO. Do you mean they calculate it themselves?

Re: Experian Score vs. Fico on Experian Data

Anonymous — Mon, 13 Oct 2014 00:06:53 GMT

There are different versions of the FICO scoring model.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Mon, 13 Oct 2014 04:39:43 GMT

But I thought they ordered your score from FICO. Do they also request which model? I'm confuse.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Mon, 13 Oct 2014 05:34:38 GMT

Every lender uses a different type of FICO scoring model. There are mutiple versions of the FICO scoring there's 04, 08, etc.. When you buy a home they look at a different FICO then if you buy a car.. Cause, when you buy a CAR they look at your Auto Enchanced FICO score, etc.

Re: Experian Score vs. Fico on Experian Data

Anonymous — Wed, 15 Oct 2014 05:09:42 GMT

Thanks. Is there anyway to see all these different scores?