@Focused wrote:I have had Cap1 for a long time now. I have their Platinum and regular cards. I boosted my utilization rate by doubling my CL on both accounts. My UR is now in low 20's. I got many cards to zero as part of that. My Transunion score is too low to get a mortgage, and when I called to get an update, Transunion said they don't use FICO, which I was confused about because My Fico lists a Transunion score. Any suggestions?
Welcome to the community!
TU is a Credit Reporting Agency, FICO is a company that provides credit scores based on the data in the CRA reports. The mortgage lenders use the FICO 5/4/2 scoring algorithm to decide on approval.
TU in collaboration with the other 2 CRAs (EX and EQ) created a scoring model on their own which is Vantage score. So, technically they "do not use FICO", they use their own score which is VS. Unfortunately, that doesn't change the fact that your FICO scores decide on your mortgage availability and the data in your TU, EX, and EQ reports decide those scores.
If you need to increase your TU mortgage score, you'd need to change things that help the score - for instance, as you pointed out your utilization. However, there are many factors that impact scores. If you shared more details, what your scores are, what are the negatives on your report, what your utilization is like per card, installment loans, etc, we could potentially provide some help.
