Difference in Scores

[jayleelove]

thay were from Equifax directly 

this is my fako sorry but I thing fico is not used by lenders or by many lenders any more

 i dont have before score from fico only from

5-13 and is 731 and i now thats not my real score

Past FICO Scores powered by Equifax data

731

Report Date: 05/13/2014

View Until: 05/25/2015

[user5387]

A FAKO scoring model may handle paying off an installment loan differently than what FICO does.

Lenders do use FICO scores, along with proprietary scoring models, but many of them are the "enhanced" (auto / bankcard) scores, and thus will not match the regular FICO scores found here and elsewhere.

[Kazuya]

One more question. Is the installment loan I have on my lease now seen as an auto loan and help my auto fico score? Or does it literally have to be categorized as an auto loan.

[Revelate]

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@Kazuya wrote:
One more question. Is the installment loan I have on my lease now seen as an auto loan and help my auto fico score? Or does it literally have to be categorized as an auto loan.

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Anecdotally personal and mortgage installment loans help on a Auto Enhanced score, but student loans may not... so in theory yours should, but whether it gets full points or not is anyone's guess beyond not looking like a "first time buyer" as most folks with no installment history fall into.

Source: long-time dealer F&I guy on this forum.

[dizzie_lizzie79]

I am not even sure if im doing this right..lol... but here goes.

I have been repairing and trying to rebuild my credit since February of this year (2014). I have been monitoring my crdit scores on a few different free sites and one payed.

I am so very confused right now, and very disappointed when i pulled my FICO EQ today on here. The only reason i did is because, this is what these sites say i am at for credit scoreing:

(USAA) Ex-634

My credit report.com:

ex-634

EQ-643

TU-643

Credit seasme:

640

Quizzle-

643

CK- 550

w/vantiage score of-643

I thought it was promising my FICO would be in a home loan range or pretty close to it, they have me at a disappointing 581

How come regular credit scores are SOOO far off from the FICO? I have three payed off car loans, and a current car loan, i have one resent payed collection account, and two payed charge off accounts(which is the same place actually). That is pretty much it.

I just applied for a capital one card the other day and got approved for a 300cl. How fast do you think this will bring up my FICO if i keep util. under 30%? Im so new to this, and just simply very confused, specially when all my regular scores keeps climbing but my FICO seems to be staying the same.

[mongstradamus]

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@dizzie_lizzie79 wrote:

I am not even sure if im doing this right..lol... but here goes.

I have been repairing and trying to rebuild my credit since February of this year (2014). I have been monitoring my crdit scores on a few different free sites and one payed.

I am so very confused right now, and very disappointed when i pulled my FICO EQ today on here. The only reason i did is because, this is what these sites say i am at for credit scoreing:

(USAA) Ex-634

My credit report.com:

ex-634

EQ-643

TU-643

Credit seasme:

640

Quizzle-

643

CK- 550

w/vantiage score of-643

I thought it was promising my FICO would be in a home loan range or pretty close to it, they have me at a disappointing 581

How come regular credit scores are SOOO far off from the FICO? I have three payed off car loans, and a current car loan, i have one resent payed collection account, and two payed charge off accounts(which is the same place actually). That is pretty much it.

I just applied for a capital one card the other day and got approved for a 300cl. How fast do you think this will bring up my FICO if i keep util. under 30%? Im so new to this, and just simply very confused, specially when all my regular scores keeps climbing but my FICO seems to be staying the same.

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None of those scores you posted above are fico scores , they are all fako scores. I wouldn't take any of them too seriously. What i would be more concerned about is what is actually on your credit reports. If there are any baddies I would address those first before worrying about differences in scores. 

[mySho2]

You are correct these scores are not even close to what the lenders are using.  Maybe I idea of close is different. We are in the process of buying a house in Texas and I pulled my scores they were about 50 to 75 points off.

[Leo1978]

I noticed a huge difference in my case too.  Thankfully it was in my favor.  I pulled my FICO score here on June 1st and got 717.  Two days later I applied for an Infiniti auto lease.  They told me my score was 751!  That was good news, but nothing changed on my report during the two days.  That seems like a pretty large difference.

[user5387]

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@Leo1978 wrote:

I noticed a huge difference in my case too.  Thankfully it was in my favor.  I pulled my FICO score here on June 1st and got 717.  Two days later I applied for an Infiniti auto lease.  They told me my score was 751!  That was good news, but nothing changed on my report during the two days.  That seems like a pretty large difference.

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There are many different scoring models used in the lending industry, and because of this, there's a good chance that two scores based on identical reports will not match.

In the case of an auto lease, it's possible that the score is an "auto enhanced" one, that gives greater weight to previous auto loan history.

This sort of thing makes sense in the auto business, but such a score is not comparable to a general credit score, that doesn't give extra weight to auto loan history.

[tavalon]

With the new FICO 08 scores, all but equifax took a hit. Not real worried. I'm below 30% on the only card I keep a balance on and I just rotate through my other cards to keep them active and current. The only one that has a balance is Discover that has an intro of 0% until july 2015, so I'm not paying that one off in a hurry. The thing is, my scores between equifax and the other two have always been about 100 points different, before the change and still now, after the change.

I got a number of incorrect things off of my reports and got one to agree to remove a derogatory because it was sent to collections for a $1.00 error in repayment, yes, one dollar. It's off of all but Experian. So, should I call the collection company again or should I do a dispute with Experian?

So, if this three way comparison is to be believed, I'm being dinged for having too little credit but also getting dinged for having just applied for and gotten 4 new cards this year. I find that amusing. I need more credit so I got more credit and now I'm in trouble for applying for more credit. And they say I should have two more cards!  Lol. This truly is a rigged game, methinks.

Now, if I follow what they suggest,I should get two more cards, which should push me back into the swamps! I'm not going to play it their way. We are going on a vacation to Disney so we're using the Disney card for my main PIF for the points. If I were to get two cards right now, I would get the Chase Freedom with the $200 bonus with the first $500 spent, but then, my focus would be away from getting the Disney Dollars and onto getting the bonus with the Freedom card. The other one is the Costco Amex, but I tried a few months ago and got turned down, so it would only make sense to wait until the new year.

So, I'm gardening until October. If the Chase Freedom still has the bonus, well, then, I'll apply. And I'll apply for the Costco AMEX in January. I don't really want or care about either of these, but free money is free money and those both have that asset.

But the only reason I would even get those two is to play the FICO game. I don't need the credit and I'm still pretty much cash and carry. I'm leveraging a little but I'm careful because I was a very bad "consumer' as a 20 something and I never want to go through that again! With the exception of buying a car or a house,  if I can't pay with cash, I don't get it (even the vacation that sits on Discover, I could have plunked down the cash on - but why take it out of savings to pay a 0%? It's at 27% util)

So, question of the day. Is this game rigged (rhetorical) and am I doing okay by not jumping through every hoop My FICO and Cr. K say I should?