04 vs 08 scores

[Anonymous]

Maybe someone can enlighten me...

I see my EQ score on here, and it's showing 635. I know that MyFico uses Fico 08.  So, because we are going to be applying for an FHA mortgage soon, I wanted to see my true Fico04 score, which the bank uses. So, I purchased the Equifax Score Power, because I was told that it was the Fico04 model. That is showing me at 686. I'm THRILLED, because everything I have heard, the 04 score would be lower than the 08 score. 

Does anyone know how I can purchase my Fico04 scores for Experian or Trans Union? Equifax is my highest score here on MyFico, and my mid score here is only at 583, being Experian. Strangely, my score ON Experian is 571, which is also the FIco08 score. What am I to believe? 

For my bank to approve an FHA, I need a middle score of over 600. 

Any insight?? 

[Anonymous]

As far as I know, you cannot buy the other two that mortgage lenders use, you can only get them when you have a lender pull. 

I had mine pulled today, and to my unbelievable shock, my fico was almost the same as my lender pulled scores, 657 being my middle score. I am so happy I'm doing cartwheels, but I digress. 

The only way to truly know where you stand, and this current point in time, is bite the bullet and have them pull. 

[CH-7-Mission-Accomplished]

Equifax Score Power is a FAKO score It is a single instant-in time FICO 04.  Equifax Credit Score or whatever they are now calling it is the FAKO.  --Rev

Equifax Score Watch is a FICO 04 score.

Their web page is confusing, but only Score Watch is a real FICO and it is FICO 04, the score mortgage lenders use.

[Anonymous]

Equifax score power is a real fico 04 score. Available from their website only.

[talktohoov]

I had original purchased and was using Equifax complete advantage and the scores were always way lower than myFico scores.  I am trying to purchase a home but wanted to verify my scores since my lender uses KROLL which I was told resembles Fico 04.  I purchased Equifax Score watch today and it is about 25 points lower than myFico.  Is the Equifax Score watch a true FICO 04?  I could not find Score Power.....Im really confused and a little depressed that what I did purchase was listing my score lower than it is here.

[Anonymous]

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@talktohoov wrote:

I had original purchased and was using Equifax complete advantage and the scores were always way lower than myFico scores.  I am trying to purchase a home but wanted to verify my scores since my lender uses KROLL which I was told resembles Fico 04.  I purchased Equifax Score watch today and it is about 25 points lower than myFico.  Is the Equifax Score watch a true FICO 04?  I could not find Score Power.....Im really confused and a little depressed that what I did purchase was listing my score lower than it is here.

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No, Equifax Score Watch is not FICO 04.  I know it's confusing but the Equifax Score Power is FICO 04.  Here is a link to get it:

http://www.equifax.com/credit-score/.  There still is a good possibility that your FICO 04 score could be lower than the ones here which are FICO 08.

[talktohoov]

I actually just tried purchasing the Power score but when I clicked to buy it said I already have it with the score watch.  I called Equifax and the lady said she would not be able to identify which version they used but she did say it was a Beacon product and that score watch and power were the exact thing only that one was for 30 days and the other was a monitoring service.

[Anonymous]

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@talktohoov wrote:

I actually just tried purchasing the Power score but when I clicked to buy it said I already have it with the score watch.  I called Equifax and the lady said she would not be able to identify which version they used but she did say it was a Beacon product and that score watch and power were the exact thing only that one was for 30 days and the other was a monitoring service.

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Ugh.  What can I say.  They're own site says it's different scores.  Sorry that you got an idiot of a CSR.  Here's what they say about their EQuifax credit score:

The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau credit scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

and here's the Equifax Power Score:

The  FICO Credit Score provided under the offer described here uses a proprietary credit model designed by Fair Isaac. The FICO Credit Score is intended solely for your own educational use. There are numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income

Note that one is a proprietary model from them and the other a proprietary model from  Fair Isaac..  The 'Beacon' Score is just their version of FICO.  Check this thread out for more info:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-version...

[Anonymous]

the only diffrence between the two is that spore power is a one time shot and score watch gives you updates. Thats it both scores are fico not fako.

[Anonymous]

The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau credit scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

no where dose it say anything about the score watch not being a fico score they are takling about all the other prouducts they offer