Difference Between MyFico and TU Score

[kbanky11]

I am confused.  Earlier this year I had Transunions trucredit and Credit Karma at the same time.  My vantagescore with credit karma was always consistent with my score from trucredit score.  I watched both scores and everytime one changed so did the other, so I cancelled my subscription.  I was conviced that Credit Karma and TU Trucredit used the same system.  Now Credit Karma now has two scores the vantagescore and the transrisk score.

I am trying to find the difference.  My transrisk is 604 - my vantage score is 624 but my myfico TU is only 590. Can anyone explain these differences?

[haulingthescoreup]

Both the TransRisk and Vantage scores are non-FICO scores, frequently called FAKO's.

The score you got here is a FICO score, albeit an older version of a FICO score called TU98.

I'm pretty sure that TransRisk and Vantage scores come from different formulas, so I'd say that it was a coincidence that for a while, they were the same.

It can be entertaining (but confusing) to follow FAKO scores, but unfortunately, few lenders use them. It does appear that Chase is starting to use Vantage cards, at least for some of their cards (= Kohl's), although I don't think we know the complete details on this yet. Lenders don't have to tell us what score system they use, unless you're declined because of that score, so we have to guess and argue. But no lenders use the TransRisk scores, AFAIK.

Your score here is (or was) used by lenders, although most have moved on to FICO TU04. FICO scores have a completely different set of score formulas from non-FICO's/ FAKO's, and you can go seriously crazy trying to figure how one score matches up to the other. Because they don't.

[kbanky11]

Thanks for the information.  I must say all of these scores are confusing.  I had applied for a new credit card and received a notice in the mail that my score was 975.  It said the source was equifax, which further confuses me.  I can remember the exact range but I do know that the range ended at 1400.  As soon as I start to understand these scores, then I get another score that is completely different.  How could the equifax score be 975?

[GregB]

There aren't any normal credit scores that go to 4 digits. This would most likely be a score that is specific to that CCC.

[llecs]

OP, there is a Bankruptcy PLUS FAKO score made by Experian but used on all 3 that goes to 1400. Did you ever file BK? If so, it is a possibility.

ETA....I read through Experian's description of the product and it is an analytical score that measures the probability of a BK in the future. I don't know if a high score is good or a low one, but it ranges from 1 to 1400. I'm not saying this is your answer, but a likely one. I've heard of creditors-to-be using scores like this to predict the chance of a BK.

Thinking out loud, but this was discussed somewhere in here before. I remember there was a service or CMS out there that offered this score...hmmm.

[jodiescha68]

 My myFICO scores are much higher than what the creditor sees. I thought my Equifax score was 669 according to myFico...what the denial letter from the creditor showed was 556...over a hundred points different. The TU score on credit Karma is very close to what my TU score with what the creditor shows. Actual Experian score is a bit lower than what freecreditreport.com shows. Funny how the free thing is the most accurate (creditkarma) in my case anyway.

[GregB]

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@jodiescha68 wrote:

 My myFICO scores are much higher than what the creditor sees. I thought my Equifax score was 669 according to myFico...what the denial letter from the creditor showed was 556...over a hundred points different. The TU score on credit Karma is very close to what my TU score with what the creditor shows. Actual Experian score is a bit lower than what freecreditreport.com shows. Funny how the free thing is the most accurate (creditkarma) in my case anyway.

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The EQ FICO here is Beacon 5.0. This is almost certainly the most useful of all credit scores available to the consumer. It is used as your EQ score for virtually all mortgages and many other uses. The only other credit score that would be as useful is the EX FICO that used to be available here.

The second best score available to consumers is the TU FICO available here. It is worth far less than the EQ FICO but still has some value. IF we could get the TU Classic 04 score here, it would be worth more than the 98 version but still wouldn't be as worthwhile as the EQ FICO since it isn't as widely used.

A huge step down from that are the various Vantage Scores that are available online. They claim that 6% of the lenders use some form of Vantage Score. That is very, very small compared to something like your EQ FICO. However, that is still worth much, much more than the stupid nonsense of a TU Transrisk score or any score from freecreditreport.com, which are used by NO lenders.

Since you didn't specify what creditor you used for your "score", we have no idea of what score system they used out of the 100+ scores available. The fact that it was similar to any score from creditkarma or freecreditreport is completely anecdotal.

[GregB]

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@llecs wrote:

OP, there is a Bankruptcy PLUS FAKO score made by Experian but used on all 3 that goes to 1400. Did you ever file BK? If so, it is a possibility.

ETA....I read through Experian's description of the product and it is an analytical score that measures the probability of a BK in the future. I don't know if a high score is good or a low one, but it ranges from 1 to 1400. I'm not saying this is your answer, but a likely one. I've heard of creditors-to-be using scores like this to predict the chance of a BK.

Thinking out loud, but this was discussed somewhere in here before. I remember there was a service or CMS out there that offered this score...hmmm.

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I haven't seen the EX Bankruptcy Score but the EQ and TU versions use a score of 0-999. Higher number is lower risk just like most other scores.