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Is This a Real Fico Score?

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Is This a Real Fico Score?

Hi all, last week I applied for a Compass bank Visa card and was approved. I live in TX, and they pulled TU. Yesterday my card came in and they provided me with my "fico" score. It doesn't seem right to as the scale scores are completely different from TU fico from this website. This what the paper says:

 

"Scores range from a low of 209 to a high of 897." This range is coming from the "FICO Credit Score Range, 2010 Fair Isaac Corporation"

 

Are these scores Fico's or Fako's? Thanks for you insight friends.

Amex BCE| BOA CB| Freedom| Citi DC| Discover It|
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Valued Contributor

Re: Is This a Real Fico Score?

209 to 897? There are two TU FICO scoring models, TU04 and TU98. Both scoring models range from 300 to 850.

 

Most lenders who pull TU use TU04, while myFICO provides TU98.

 

It is probably their own proprietary scoring models.

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Valued Contributor

Re: Is This a Real Fico Score?


@trumpet-205 wrote:

209 to 897? There are two TU FICO scoring models, TU04 and TU98. Both scoring models range from 300 to 850.

 

Most lenders who pull TU use TU04, while myFICO provides TU98.

 

It is probably their own proprietary scoring models.


+1 Fico Scores are 300-850, so the 209 to 897 IMO are Fakos.


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Moderator Emeritus

Re: Is This a Real Fico Score?


@MAstudent07 wrote:

"Scores range from a low of 209 to a high of 897." This range is coming from the "FICO Credit Score Range, 2010 Fair Isaac Corporation"

 

Are these scores Fico's or Fako's? Thanks for you insight friends.


It's a FICO....NextGen....similar to what Alliant CU offered at one point before they changed their score offering.

Page 16:

http://www.transunion.com/docs/rev/business/financialservices/FS_ModelsOverview.pdf

 

Message 4 of 8
Contributor

Re: Is This a Real Fico Score?

Thank you so much...the link is very helpful. With this information in mind, does my score of a 791 on Compass'  score seem aligned with my TU score on my signature?

Amex BCE| BOA CB| Freedom| Citi DC| Discover It|
Message 5 of 8
Valued Contributor

Re: Is This a Real Fico Score?

So we have 13 FICO scoring models (excluding revenue and insurance scoring models) for just for TU!? How in the world can people compare their scores?

Message 6 of 8
Moderator Emeritus

Re: Is This a Real Fico Score?


@MAstudent07 wrote:

Thank you so much...the link is very helpful. With this information in mind, does my score of a 791 on Compass'  score seem aligned with my TU score on my signature?


No, but that's because the scale is different and the NextGen factors your score a bit differently. Not many use that score (e.g. mortgage lenders).

Message 7 of 8
Moderator Emeritus

Re: Is This a Real Fico Score?


@trumpet-205 wrote:

So we have 13 FICO scoring models (excluding revenue and insurance scoring models) for just for TU!? How in the world can people compare their scores?


Smiley Happy  I think there are more than that. I can't speak for FICO, but I think FICO is creating these different models in response to customer needs. One TU FICO won't work the same for another because of local economics, national economics, demographics, borrowing needs, etc. Not all lenders are alike so it makes sense to create different scores to keep up with trends. Think back to just over 10 years ago. Everyone and everyone's mom was dispensing investing advice. Even my mechanic gave me advice to invest in a little known company at the time called Enron. Then came the tech bust. Then it cycles back only to rise and fall and rise and fall. It's all predictable. With each cycle, you have to create a new risk formula to keep up with lenders' needs. How we loaned money in the mortgage industry just 5 years ago is a heck of a lot different than how we lend money today.

 

With each new score, lenders decide if they want the new one (hence, some lenders still pull TU98) or if they want to upgrade. Then they have to decide if they want a Classic score, like what mortgage lenders mostly use, if they want an industry-specific score (e.g. bankcard, mortgage, auto, installment-enhanced scores), or if they want a non-classic like NextGen. For whatever reason, Compass decided to use NextGen for their FICO choice. And as you point out, trumpet, it becomes a challenge to compare since you typically can only get that score once.

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