Which one is seen, and when does Experian update show up on MyFico, vs. Experian internal ?

[Anonymous]

Find myself in a curious 1st time situation.

I want to apply for the Discover It Card, but am waiting for a score to update before I do.

Experian (per their website) bumped my Fico 8 up 11 points to 753, on Nov 2.

MyFico is still registering 742.

Let's assume that when I hit that Discover application submit button, the pick of the draw goes to Experian this time.

Is Discover going to see Experian's 753, or Fico's 742 ?

I have no problem waiting for an update, but am more curious to see how this could trip me up in the future.

[Anonymous]

The score generated at the time of your app is based on the bureau data in your report at that moment in time.  Is the score you get from MF also using Experian data?  If not, you aren't comparing apples to apples.  If they are scores drawn on the same bureau data, it means that your credit report changed and EX pulled that new data and generated your score based on that, where MF is still using the old data and hasn't updated your CR yet.  It doesn't have anything to do with "EX bumping up your score" it's all based on what data is being used. 

If you were to apply for a product today they would pull your current/most recent data.  If they used EX and it was the same scoring model your score would show 753.  Keep in mind that there are 3 different sets of bureau data and many different scoring models, so you can't make an assumption that Discover would come away with the same or either of those 2 scores that you mentioned previously.

[AllZero]

IIRC Whatever is on your report is real time, e.g. Experian FICO 8. Perhaps, mYFICO has not updated yet?

[Anonymous]

@Anonymous 

See, this type of nonsense has me in stitches.

If FICO is generating that "FICO 8" score, then how on earth does Experian update the score before MyFico ??

[Anonymous]

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@Anonymous wrote:

@Anonymous 

See, this type of nonsense has me in stitches.

If FICO is generating that "FICO 8" score, then how on earth does Experian update the score before MyFico ??

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Scores are updated when your new [changed] bureau data is run through the algorithm.  This doesn't happen continuously.  Depending on the source a score may update weekly, monthly, when an alertable event transpires, etc.  I have no idea what sort of membership you have with MF or how often your score updates through them (or through your Experian membership, for that matter). 

"Fico 8" is just one (common) of many Fico scores available.  It is provided by any number of sources, including Experian, Discover, Discover credit scorecard, MF, American Express, etc.  Just because one of the sources of a Fico 8 score is "myFICO" doesn't mean they are any "better" at providing the score than anyone else.

[Anonymous]

@Anonymous Welcome. Well said, BBS. @Anonymous look at the date on the score on both. If you have a subscription to Experian, it updates daily and will be the current score for the time of day you pulled it on that day. MF typically lags behind unless you pull a new 3B or 1B.

The data is at the bureau and the bureau generates the score using the algorithm. MF and all the others are third parties and pull from there.