WAMU FREE FICO SCORES...

[Anonymous]

I have a WAMU CC for its free fico. I have been seeing on here that this is a PFICO. Now my questions are:

Who use these scores to determine whether or not they will give you credit?

How do they differ from FICO scores?

How did someone determine these were PFICO scores when WAMU and other articles state states they are real FICO scores?

Thanks for any responses

[Anonymous]

Wamu's site tells you under the score bar "Bankcard FICO score provided by: TransUnion"

[Anonymous]

jaybee, they are true FICO scores, just enhanced for credit cards. Just as there are enhanced scores for mortgages, and car loans.

[Anonymous]

Just about every maor credit card you get uses a versionof the bakcard enchanced FICO.

[smallfry]

Called PFICO because Providian originally provided this service and WaMu bot 'em.

[Anonymous]

Not sure if the pfico and regular Fico are always this close, but as of 11/8/07 my TU Fico score was 658 according to MyFico.  My pfico was 660 according to WaMu.  So, imo, the pfico on the WaMu site is a pretty good indicator.

[Anonymous]

OK Wamu's Fico score if a REAL FICO score based on your TU report.  The model that is used there weighs bankcards more heavily than any other factor.  The FICO score you get from here is the classic FICO, usually used for mortgages and the like.  There is also an auto-enhanced FICO score which weighs the probability that you wll default on an auto loan.  Of course lets not forget the bankruptcy risk score.

There are a lot of dfferent FICO scores depending on the needs of the lender.  My PFICO (bankcard) is only 661 when my FICO is 708, the result of too many new cards opened in a short period of time. One of the risk factors lenders look for when approving new credit card apps.

HTH

Message Edited by Brammy on 11-17-2007 11:26 AM

[Anonymous]

I agree 100%
My FICO has gone way up but my PFICO has taken a decent dip.

---

@Anonymous wrote:

OK Wamu's Fico score if a REAL FICO score based on your TU report. The model that is used there weighs bankcards more heavily than any other factor. The FICO score you get from here is the classic FICO, usually used for mortgages and the like. There is also an auto-enhanced FICO score which weighs the probability that you wll default on an auto loan. Of course lets not forget the bankruptcy risk score.

There are a lot of dfferent FICO scores depending on the needs of the lender. My PFICO (bankcard) is only 661 when my FICO is 708, the result of too many new cards opened in a short period of time. One of the risk factors lenders look for when approving new credit card apps.

HTH

Message Edited by Brammy on 11-17-2007 11:26 AM

---

[smallfry]

Could be based on your Experian score if they pulled that for the application but it for sure does not like new accounts. It penalizes you even more severely than Classic FICO for that.

[Anonymous]

I have noticed that it penalizes you more for new credit. My PFICO score went down 30 points last month because of a new CC addd (that is the only difference that I can tell), but my classic FICO stayed pretty much the same.

This month my PFICO went up 32 pts, I am not sure why though because it can't be for that new card (it is only a month old). My classic FICO went down by six pts, the reason was because of a dispute (but I doubt that) maybe it was for the inq that I got from app'ing for the new card.

It is all very confusing.