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How accurate is the american express credit sure reporting?

Phreckles
Established Member

How accurate is the american express credit sure reporting?

I just logged in and see they have me at    Ex:728   Trans:728      EQ:703     This would be the first time all three bureaus have me over 700.

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2 REPLIES 2
Irish80
Moderator Emeritus

Re: How accurate is the american express credit sure reporting?


@Phreckles wrote:

I just logged in and see they have me at    Ex:728   Trans:728      EQ:703     This would be the first time all three bureaus have me over 700.


Those are what are known as Plus scores and no lender uses them and they really should be used only for educational purposes.  They are not FICO scores.  Here's what Amex says about the scores:

 

Each PLUS Score is a credit score calculated based on information in the individual credit report provided by one of the 3 Major Bureaus. The PLUS Score® is designed to represent your overall credit risk. PLUS Scores are not used by lenders and you should not rely only on PLUS Scores to understand how lenders will view your creditworthiness.Lenders use several different credit scoring models"

Message 2 of 3
takeshi74
Senior Contributor

Re: How accurate is the american express credit sure reporting?

Don't just look at numbers and always consider the specific scoring model as well as its relevance.  Don't just assume that all scores should be the same.  Different models evaluate report data differently and can have different scoring ranges.  If, for example, you want to know what your TU FICO 8 is then pull your TU FICO 8.  Don't try to use scores based on other CRA data or generated by other models.

 

In many cases you can find info on the specific scoring model on the site as pointed out above.  In cases where you can't, don't overlook existing discussions here.  Scores and the various models are very common topics.

 


@Phreckles wrote:

This would be the first time all three bureaus have me over 700.


The CRA's just maintain your reports.  FICO scores are not a product of the CRA's though some of them do provide FICO's.  FICO scores are a product of the Fair Isaac Corporation.  myFICO is a Fair Isaac site.

 

It's not just the CRA (i.e. the data in the report) that matters for the score but the scoring model assessing the data as well.

 


@Phreckles wrote:

How accurate is the american express credit sure reporting?


All scores are accurate but accuracy isn't about how well a given model mimics another.  Again, you can't use a score generated by one model to determine a score generated by a different model.

 

Accuracy isn't what matters anyway.  Relevance is what matters.  Products and creditors do not all use the same CRA and model in the credit decision.  If, for example, a decision is made for a product based on a TU FICO 8 then only the TU FICO 8 matters.  Scores based on EQ and EX will not be relevant.  Scores generated by other models will not be relevant.

 

As indicated above, Plus scores are not used in credit decisions so they're really not relevant to any creditor/product.

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