No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I pay for Score watch from Equifax.com which read on this board offers a true FICO 04 score. I am paying close attention to my scores since I am about to apply for a mortgage loan. I am wondering how my FICO 04 score will compare to the new mortgage score that Myfico offers. I purchased the experian report and it says FICO 02 so not sure what the difference is.
Equifax Beacon® 5.0; - Myfico Equifax version 5, scorewatch, power score
Experian®/Fair Isaac Risk Model V2SM; - Myfico Experian version 2,
TransUnion FICO® Risk Score, Classic 04. - you can't buy this version anywhere"
What you get from score watch is myfico 2004 (04) version that is called Equifax Beacon 5.0. And yes that is what is used by the lenders. You can find the same score here on myfico looking at Fico 5 version on your Equifax report.
@Martis wrote:
Equifax Beacon® 5.0; - Myfico Equifax version 5, scorewatch, power score
Experian®/Fair Isaac Risk Model V2SM; - Myfico Experian version 2,
TransUnion FICO® Risk Score, Classic 04. - you can't buy this version anywhere"
What you get from score watch is myfico 2004 (04) version that is called Equifax Beacon 5.0. And yes that is what is used by the lenders. You can find the same score here on myfico looking at Fico 5 version on your Equifax report.
To clear up some confusion:
Equifax Beacon 5.0: myFICO Equifax 1B or 3B pull (single time), Equifax Score Power (single time), Equifax Scorewatch (monitoring).
myFICO Scorewatch and the various monitoring solutions is Beacon 9.0 - a FICO 8 model not used in the mortgage industry.