Is checking scores on myfico.com just as good as checking individual CRs? Scores went way up...

[mlynne37wiu]

I was checking my EQ CR today and the score jumped from last month.  So, I went into EX and checked...again, a jump.  Finally, I did a free trial with TU to see what my score was and it had jumped as well!  I haven't bought the 3 CRs from myfico.com because I have already seen these 3 individually, but do you think it's worth it just to cross-reference?  The jumps are pretty big and it seems too good to be true...

                July        August

TU           563           628

EQ          622           636

EX

[mlynne37wiu]

Sorry, didn't get to finish:

          July         August

EX     539           641

[Takunda1]

If all your scores have shown a upward trend then we can cautiously assume that your Fico scores may have gone up as well. Of course there is no guarantee since all these sites use different formulas to calculate their scores.

[mlynne37wiu]

So, do creditors pull CRs from the individual bureaus?  If they do, it would seem that the individual bureau CRs would be the ones to be looked at and paid attention to more than the reports from myfico.com.  Any thoughts?

[Anonymous]

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@mlynne37wiu wrote:

So, do creditors pull CRs from the individual bureaus? If they do, it would seem that the individual bureau CRs would be the ones to be looked at and paid attention to more than the reports from myfico.com. Any thoughts?

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The vast majority of lenders use FICO scores to determine approvals. The classic FICO score based on your EQ report is available from the Equifax website or from MyFico. The classic FICO scores based on your EX and TU reports are available from MyFico.

If you obtain a score directly from the EX or TU websites, that score will be based on a non-FICO formula (commonly referred to as a FAKO score) and should be disregarded.

Mortgage lenders generally pull reports from all 3 CRAs, and use the middle score in most cases. Auto lenders and CCCs usually pull a report from one CRA of their choice (although some occasionally pull from more than one CRA). In any case, lenders are almost always looking at FICO scores based on your report(s). In some cases (usually mortgages), they are looking at classic FICO scores that match those you could purchase from MyFico; in other cases, they are looking at customized FICO scores designed specifically for the auto loan or bankcard industry.

Message Edited by Revike on 08-04-2007 10:36 AM

[Tuscani]

Welcome.. Please read the Scoring 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[mlynne37wiu]

Thanks for the info.  I pulled my FICO scores and, although they are a bit lower than the individual bureaus, they did go up!

           July      August

TU      563         593

EQ     622         636

EX      539         613  big jump!

Thanks for all of your help!!  This is such a great message board!