Credit score questions....

[Anonymous]

Noticed a huge variance between the myfico scores and the score a mortgage lender pulled for pre-approval and learned the mortgage lender is likely using an older version of fico. Lender pulled 660 and myfico is ranging from 735-750.  Here are the negatives noted on our report: recent collection under $100 from a cable account (this has been disputed and the cable company agreed to request the collection agency to withdrawal the collection from the credit report); 3 30-day late reports on student loans, each over 4 years old; and a high utilization (41%) on the only credit card held (low credit limit $9000). A few questions-- is there anyway to find our score on prior versions?  How long would a request to remove a collections account typically take to show up on a report? And finally, I assume it would be in our best interest to pay down the credit card balance to about 10% of available credit limit, correct?  Thanks for any assistance.

[pizzadude]

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@Anonymous wrote:

Noticed a huge variance between the myfico scores and the score a mortgage lender pulled for pre-approval and learned the mortgage lender is likely using an older version of fico. Lender pulled 660 and myfico is ranging from 735-750.  Here are the negatives noted on our report: recent collection under $100 from a cable account (this has been disputed and the cable company agreed to request the collection agency to withdrawal the collection from the credit report); 3 30-day late reports on student loans, each over 4 years old; and a high utilization (41%) on the only credit card held (low credit limit $9000). A few questions-- is there anyway to find our score on prior versions?  How long would a request to remove a collections account typically take to show up on a report? And finally, I assume it would be in our best interest to pay down the credit card balance to about 10% of available credit limit, correct?  Thanks for any assistance.

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Mortgage lenders are still using the FICO04 scoring model, whereas MyFICO sells the FICO08 scoring model;  there can be large differences between these versions.

[Anonymous]

Understood. Is there any way to track your fico 4 score and how changes might impact it?

[pizzadude]

The EQ website sells a FICO04 score, that's the only place:

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

[CreditDunce]

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@Anonymous wrote:

Understood. Is there any way to track your fico 4 score and how changes might impact it?

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If you are a member of DCU with a checking account, they will give you a free EQ-04 score each month.  However, I probably wouldn't join DCU right now if you are not a member.  They do a HP for membership.  It may cause your score to dip a little.