Yet another fico score question....

[Anonymous]

Around a month ago I my EQ score was 633 according to my fico.  I applied for a cl increase with capital one and was declined.  When i received the letter it informed me that my EQ score had been pulled and it was 644 at the time of the denial.  About 2 weeks later I guess my account got an automatic review at which time I was approved for an increase!  My question is which credit score was correct?  I have been slowly been my credit score since the begginning of the new year with plans to buy a new car in June.  Now my myfico is reporting I'm at 643(just went up today).  Should I expect my EQ score to be 11 points higher from the credit union or bank that I planc on financing with?  If so then I probably am right where I need to be at around a 654 before pulliing my auto enhanced credit score.  Again thanks in advance for all the help, this forum has truly helped me out!!1

[user5387]

There are many different scores used, and there's not a single "right" score.

A lender may pull EQ or one of the other bureaus, and within EQ, there are multiple scores.

For example, this site has recently shifted from EQ 04 to EQ 08.  Another example -- I'm a member of Penfed, and I think they use the NextGen / Pinnacle FICO variant from EQ with a 150-950 range.

If I was in this situation, I'd try to do a bit of sleuthing and see if I can identify which bureau and score variant the relevant CU or bank uses.

If you do a Google search on the phrase "credit pulls database", you can get a wealth of information on this topic.

[Shogun]

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@user5387 wrote:

There are many different scores used, and there's not a single "right" score.

A lender may pull EQ or one of the other bureaus, and within EQ, there are multiple scores.

For example, this site has recently shifted from EQ 04 to EQ 08.  Another example -- I'm a member of Penfed, and I think they use the NextGen / Pinnacle FICO variant from EQ with a 150-950 range.

If I was in this situation, I'd try to do a bit of sleuthing and see if I can identify which bureau and score variant the relevant CU or bank uses.

If you do a Google search on the phrase "credit pulls database", you can get a wealth of information on this topic.

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Very nicely put.  

[Anonymous]

Yes, I am familiar with the credit database pulls, couldn't fiind any info for my local credit union but i did find info for 1 of my options which is DCU.  Does anyone know which form of EQ that they pull.  Thanks,

[Revelate]

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@Anonymous wrote:

Yes, I am familiar with the credit database pulls, couldn't fiind any info for my local credit union but i did find info for 1 of my options which is DCU.  Does anyone know which form of EQ that they pull.  Thanks,

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No, honestly it's irrelevant and not worth worrying about: focus on the report and let the lenders pick whatever score they want... a pretty report results in a pretty score regardless of algorithm except the very exotic ones which nobody in the major credit markets use anyway (like Transunion auto-insurance score, ummm, yeah).

[takeshi74]

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@Anonymous wrote:

My question is which credit score was correct?

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Both.  There are a number of factors that can affect scores -- even if from the same CRA.  Different models were mentioned above but it's also entirely possible that data in your EQ report changed during the time that the two scores were generated.

Don't obsess over the numbers and focus on what's in your reports.  Regardless of model used all scores are based on the data in your reports.