I am car shopping (rather, I am car loan shopping!) Applied with Bank of America, and was denied (due to a 7 yr. old bankruptcy) and the letter I got states they pulled Equifax and that my score was 714. But Scorewatch tells me my Fico is 643 and hasn't changed since March 7. I've heard of Auto Enhanced scores, but 71 points??? (Don't get me wrong, I'd LOVE for my score to be in the 700s, but...) What do you guys think?
Starting Score: Jan 2012 – EQ 582, TU 615
They did... the letter says:
Our decision was based in whole or in part on information we obtained from the consumer reporting agency listed below. The agency played no part in our decision other than providing us information about you and is unable to provide specific reasons why we denied credit to you. Under the Fair Credit Reporting Act, you have the right to know the information contained in your credit file and to dispute with the consumer reporting agency the accuracy or completeness of the information. You can obtain a free copy of your credit report by contacting the agency within 60 days after your receipt of this notice:
Equifax
P.O. Box 740241
Atlanta, GA 30374-0241
1-800-685-1111
Information About Your Credit Score
We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes. Your credit score was 714 as of March 14, 2012. Credit scores can range from a low of 250 to a high of 900.
I do have quite a few auto loans in my credit profile throughout the years - four or five? And all were in good standing. Makes me happy to have received a rate of 3.29% from our local CU on my brand new Camry Hybrid! 
MyFIxo EQ was spot on for my USAA auto loan pull (Which was declined, due to the "conservative nature" of their bank)
@GregB wrote:Just guessing, but do you have one small collection for less than $100 or just one late payment a couple years old?
Interesting, GregB - I have two thirty-day lates on a Capital One CC from 2011, one medical collection for $40, and the bankruptcy from 2004. Aside from that, I have approx. 15 positive tradelines, util 1% of about 15k, and a mortgage we've held for two years with no lates.
So, how'd you guess?
@clg1231 wrote:
@GregB wrote:Just guessing, but do you have one small collection for less than $100 or just one late payment a couple years old?
Interesting, GregB - I have two thirty-day lates on a Capital One CC from 2011, one medical collection for $40, and the bankruptcy from 2004. Aside from that, I have approx. 15 positive tradelines, util 1% of about 15k, and a mortgage we've held for two years with no lates.
So, how'd you guess?
He guessed because the new FICO formulas ignore paid collections under $100 and many auto-enhanced FICOs use the new scoring system. Most other scores come from the old formula, which still counts all collections. This could definitely explain the large difference.