Transunion scoring models

[Quicksilver77]

I was reading in the forums that myfico uses TU 98 and that walmart's score is TU 08. What is the difference in scores and which one is more accurate in your opinion? Is it the same with equifax? Thank you in advance!

[rcolombe]

I have the same question. I just had a lender pull my score and they used Transunion Classic 04 which was over a 60 point difference, not in my favor.

[09Lexie]

They are all accurate. TU98 is an older version than TU08, for instance. Different lenders can or may use one of several versions of scores. How are they different?

FICO 08 is more forgiving of consumers with a couple of late payments but not repeat offenders.
More weight given to consumers with a mix of credit types
Increased protection for lenders from AUs abuse while still recognizing legitimate AUs
Consumers who utilize a high percentage of their rev balance are penalized to a greater extent.

Classic 04 are not available to consumers and are generally for mortgage lending.

[Kratos-TM]

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@09Lexie wrote:
They are all accurate. TU98 is an older version than TU08, for instance. Different lenders can or may use one of several versions of scores. How are they different?

FICO 08 is more forgiving of consumers with a couple of late payments but not repeat offenders.
More weight given to consumers with a mix of credit types
Increased protection for lenders from AUs abuse while still recognizing legitimate AUs
Consumers who utilize a high percentage of their rev balance are penalized to a greater extent.

Classic 04 are not available to consumers and are generally for mortgage lending.

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Do you know if the classic 04 is still heavily used in the auto industry? Or have the auto lenders moved on to 08?