What's the differance between Experian's Plus Score and FICO Scores?

[Anonymous]

I pulled an experian report with score directly from Experian, and the score thats listed is what they call a Plus Score.  Nowhere does it say FICO so I am sure it isn't my actual FICO score. 

Does anyone know the differance between them?

And do they tend to run higher or lower than FICO Scores?  (I notice that the transunion triple scores tend to run higher than FICO when your scores are low and they tend to run lower when your scores improve, hence the question.)

Van

[Anonymous]

Confusing, isn't it? Same here. Don't feel bad, I've been struggling with this issue since I've been here....about 2 1/2 months

First off there is FICO and what is commonly termed FACO(pronounced Fake-o).

The 2 are different. FACO normally always higher, at least for me.

I've learned that lenders, typically mortgage companies use FICO scores.

But today I read that only the credit reports from Equifax will give you true, certified FICO scores. So you can consider the other 2 FAKO's.

I'm sure others will chime in when they wake up. And correct me anyone, if this isnt completely true. Just as I understand it

Hope that helps

[Anonymous]

Yep I know that TransUnion scores are FACO's, but this was the first time I really noticed that "Plus Score". 

I know some of the credit cards that give you free scores use a "Bank Card Enhanced Score", but I thought when I bought my actual credit report with score from Experian that I was going to get my FICO score...

Live and learn I suppose.  It's the almighty score but you never know which one your gonna get till after you pay for it  LOL

Van

[Creditaddict]

I have not figured out why we as consumers usually get PLUS Scores when we pull reports unless you come here to Fico.com but yet almost ALL lenders ONLY use Fico and consider Plus worthless.  and on top of that PLUS are ALWAYS HIGHER then your fico.  So we are being led to believe our credit is better then it is!

[haulingthescoreup]

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Vanyel wrote:And do they tend to run higher or lower than FICO Scores?

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Answer: yes. sorry, couldn't resist

Where you do run into FICO-but-different scores are the enhanced FICO scores. There are versions for credit cards and car loans that I know of. They start with the standard FICO score, but they give higher weight to those categories, because they are marketed to lenders in those fields. So for a credit card enhanced FICO (=PFICO), the cc history and util will count for more, etc. People with WaMu accounts (can't remember if it's checking, CC or what) get their monthly PFICO score for free. It can be really different from a straight FICO, because of the heavier weight on the CC side, but it's built on the bones of a FICO score.

Sorry, I'm trying to remember from your other posts if you already knew this. Oh well, it's there for general use, I guess!

[haulingthescoreup]

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@Creditaddict wrote:

I have not figured out why we as consumers usually get PLUS Scores when we pull reports unless you come here to Fico.com but yet almost ALL lenders ONLY use Fico and consider Plus worthless. and on top of that PLUS are ALWAYS HIGHER then your fico. So we are being led to believe our credit is better then it is!

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FICO is gonna charge you more, because what they have are the real scores, so they know that people will be willing to pay more, alas. Only EQ so far has been willing to pay FICO for permission to sell its scores. TU somewhere is supposed to have the ability to access a FICO score, but I can't find it to save my neck. I think the other sites create scores to pretend that they're useful, too, and to lure in some people who don't know the difference.

I read on another post that the USA Today story about people burned by FAKO scores is coming out next week. The reporter interviewed at least one of our forum members. Should be fun! (I'm referring to the link on a few of the boards here that says "USA Today wants to talk to you."

[MattH]

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@Creditaddict wrote:

I have not figured out why we as consumers usually get PLUS Scores when we pull reports unless you come here to Fico.com but yet almost ALL lenders ONLY use Fico and consider Plus worthless. and on top of that PLUS are ALWAYS HIGHER then your fico. So we are being led to believe our credit is better then it is!

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Actually my Experian PLUS came out a little lower than my Experian FICO score, though somewhat higher than my EQ and TU FICO scores, as my EX is always my highest FICO when I pull all three from myfico.com

[jmbfl]

HTSU -

That would be www.transunioncs.com

[Anonymous]

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jmbfl wrote:

HTSU -

That would be www.transunioncs.com

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It's been nine months since HTSU posted the above, and I am positive she knows transunioncs.com by heart at this point.

It's almost funny to be reminded there was a time when she didn't know it off the top her head! lol

Edit so as not to be misconstrued: I didn't mean to be rude, jmbfl.  Thank you for posting that!  I was caught up in the fact that there was something HTSU didn't know off the top of her head at some point!

Message Edited by cheddar on 07-17-2008 10:53 PM

[Anonymous]

Base on what i read on this forum the plus score runs lower than fico