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MyFICO scores?

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Established Contributor

MyFICO scores?

I understand the score offered by MyFico is a true FIKO score BUT, what are the scores they offer for Ex & TU?

I have read conflicting info and don't want to pay for FAKOs

11/14/14 Total CL $1,100; 6/30/15 Total CL $180K
Message 1 of 8
7 REPLIES 7
Mega Contributor

Re: MyFICO scores?

All are Fico 08 models but not necessarily what creditors use. Most creditors use 98 or 04 not available to purchase.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 2 of 8
Contributor

Re: MyFICO scores?

you can purchase a fico 04 from equifax score power or score watch 14.95 a month

Gardening 10/10/14 to 10/10/15



Message 3 of 8
Established Contributor

Re: MyFICO scores?

There are more scoring models out there than what most of us care about knowing. You have the first major division which is FICO or FAKO scores. FICO scores are used by the vast majority of large lenders (e.g. Banks/CUs). Some banks use internal scores in combination or separate from FICO scores. Few banks use FAKO scores, but they do get occasionally used. 

 

FICO 08 scores are provided by myfico. FICO 08 scores for EQ, EX, and TU are available. I believe Scorewatch here also provides EQ 04 scores. Other FICO score versions are not available for purchase for us. FICO 08 scores are most commonly pulled by lenders from credit card related purchases. Home loans lenders tend to pull FICO 04 or 98 scores which are older scoring models. Some lenders use ënchanced versions of a specific FICO score. For example, auto lenders often pull auto enhanced FICO scores. 

 

You generally can't find you "score" without letting a lender pull it. What you can do is check your report to make sure that all three bureaus (EQ, EX, and TU) have no errors and take steps to increase your scores by reducing CC debt, making on-time payments, and developing an overall positive and thick credit file. You can also use FICO 08 scores on this site (or even FAKO scores) are a guage to see how your scores are moving (up or down). Just don't expect these to be the scores your lender sees since they can be very different. 

Message 4 of 8
Senior Contributor

Re: MyFICO scores?


@stagefoursurvivor wrote:

I understand the score offered by MyFico is a true FIKO score BUT, what are the scores they offer for Ex & TU?

I have read conflicting info and don't want to pay for FAKOs


I don't understand your confusion.  If you understand that scores offered by myFICO are actually FICO's then why are you confused about whether or not the EX and TU scores are FICO's?  As stated earlier, all scores provided by myFICO are currently FICO 08 scores.

 

Earlier posts also point this out but given your statement about not wanting to pay for FAKO's you definitely need to keep in mind that not all creditors use FICO 08 scores so the scores you get here may not be the scores that a creditor pulls for you even if they also use a FICO.  Don't overlook the Understanding FICO Scoring subforum and its stickies.  There are a number of different FICO models used by creditors and you can't rely on a score generated by one algorithm to determine the score generated by a compeletely different algorithm even if both are FICO's.

Message 5 of 8
Established Contributor

Re: MyFICO scores?

No, it's clearer now, given the myriad types of FICOs, especially given there are 98, 04, 08, auto-enhanced, etc PLUS, some lenders apparently use their own internal models of some of these.

FAKOs seem to be only a "ballpark" guide to observe for trends

All is goodSmiley Happy

11/14/14 Total CL $1,100; 6/30/15 Total CL $180K
Message 6 of 8
Regular Contributor

Re: MyFICO scores?

Coldnmn,
I would have to disagree with most creditors pulling 98-04.
Other than mortgage I haven't had a creditor pull anything but 08 in quite sometime.
Message 7 of 8
Mega Contributor

Re: MyFICO scores?


@EricDET wrote:
Coldnmn,
I would have to disagree with most creditors pulling 98-04.
Other than mortgage I haven't had a creditor pull anything but 08 in quite sometime.

I agree to disagree everyones milage may vary.

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 8 of 8
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