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My myFICO EX score accuracy

Eighthundredbound
Valued Member

My myFICO EX score accuracy

My myFICO EX score on March 9 was 756 I applied for a to Capital One CLI on that same day. The report they sent me said that my score on March 9th was 723.

 

Is this discrepency between myFICO and the credit bureau typical? I thought myFICO was fairly close to accurate.

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5 REPLIES 5
SouthJamaica
Mega Contributor

Re: My myFICO EX score accuracy


@Eighthundredbound wrote:

My myFICO EX score on March 9 was 756 I applied for a to Capital One CLI on that same day. The report they sent me said that my score on March 9th was 723.

 

Is this discrepency between myFICO and the credit bureau typical? I thought myFICO was fairly close to accurate.


There are numerous different FICO scoring models, there are 3 different credit bureaus with differing data, the credit bureau versions of each scoring model are not identical, and there are different dates on which the scores were pulled.  Any or all of these factors are possible reasons for the discrepancy.


Total revolving limits 748700 (628200 reporting) FICO 8: EQ 701 TU 717 EX 682

Message 2 of 6
Horseshoez
Valued Contributor

Re: My myFICO EX score accuracy


@Eighthundredbound wrote:

My myFICO EX score on March 9 was 756 I applied for a to Capital One CLI on that same day. The report they sent me said that my score on March 9th was 723.

 

Is this discrepency between myFICO and the credit bureau typical? I thought myFICO was fairly close to accurate.


I have also heard elsewhere on this forum many Financial Institutions, CapOne included, only refresh their credit bureau lookup data every month or two, so the score they pulled for you maybe be a tad stale.  That said, when CapOne approved me for my Quicksilver card my scores were in the low to mid-600s and I got a starting limit of $3,000; two years later when I applied for my SavorOne card my scores were all 810+, they only approved me for a $2,000 starting limit.  For CapOne at least, higher scores don't necessarily equate to better limits and interest rates.

I categorically refuse to do AZEO!
Message 3 of 6
Eighthundredbound
Valued Member

Re: My myFICO EX score accuracy

Thanks @SouthJamaica . I suspected as much. Are you saying though that if Cap One pulled updated score the myFICO and FICO scores would be close? 

I also read that Cap One buckets people into certain cards that determine lifetime opportunities for CLI's.

 

Thanks.

Message 4 of 6
Horseshoez
Valued Contributor

Re: My myFICO EX score accuracy


@Eighthundredbound wrote:

Thanks @SouthJamaica . I suspected as much. Are you saying though that if Cap One pulled updated score the myFICO and FICO scores would be close? 

I also read that Cap One buckets people into certain cards that determine lifetime opportunities for CLI's.

 

Thanks.


What I have learned from this forum is that there are no absolutes when it comes to CapOne; some folks may be bucketed for year/decades/forever, while other folks with otherwise identical profiles, cards, credit limits, and usage patters will see their cards grow.  There is literally no rhyme or reason to how any given card may grow (or not).

I categorically refuse to do AZEO!
Message 5 of 6
SouthJamaica
Mega Contributor

Re: My myFICO EX score accuracy


@Eighthundredbound wrote:

Thanks @SouthJamaica . I suspected as much. Are you saying though that if Cap One pulled updated score the myFICO and FICO scores would be close? 

I also read that Cap One buckets people into certain cards that determine lifetime opportunities for CLI's.

 

Thanks.


There are something like 28 different FICO scoring models currently in use.  Plus the 3 bureaus each use slight modifications. When I used to ask Capital One for a credit limit increase, they used Equifax FICO 5 scoring model, and the score was usually 1 to 2 months old.

 

Yes Capital One is known for securitizing many of its accounts, and bucketing them because of that.  Those cards rarely get higher credit limits, even for customers who qualify for a much larger limit on a new Capital One card.


Total revolving limits 748700 (628200 reporting) FICO 8: EQ 701 TU 717 EX 682

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