Experian's 3-bureau report/monitoring....actually FICO?

[Anonymous]

Hi folks. I signed up for experian's trial for a fico score. I then signed up for a 5 dollar, 30 day trial of their Premium membership, with "

• Monthly 3-Bureau Report and FICO® Scores
• Daily Experian Credit Report and FICO® Scores
• 3-Bureau Credit Monitoring & Alerts*
• FICO® Score Tracker"

I am curious if these are actual fico scores? I recently made some big payments on the few accounts that I have, that are forecasting to add nearly 75 points to my credit report. They get reported on the 25th (capital one), and I am wondering if I can monitor experian and see when the new balances post, and trust it? I need to get an auto loan soon, and do NOT want to run a prequalification or loan app until I am sure that my new balances, and new scores, are visible to an auto lender (or capital 1 auto navigator).

So, basically, can I trust the FICO scores on experian to be accurate and up to date, so that I can get an auto loan ASAP.

Thanks!

[Anonymous]

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@Anonymous wrote:

Hi folks. I signed up for experian's trial for a fico score. I then signed up for a 5 dollar, 30 day trial of their Premium membership, with "

• Monthly 3-Bureau Report and FICO® Scores
• Daily Experian Credit Report and FICO® Scores
• 3-Bureau Credit Monitoring & Alerts*
• FICO® Score Tracker"

I am curious if these are actual fico scores? Yes.  Experian CreditWorks Premium gives you your FICO 8 scores and several additional FICO scores based on specialized FICO models like mortgage, auto and credit card scores.  So it will give you your your FICO Auto Score 8 and FICO Auto Score 2 scores.

I recently made some big payments on the few accounts that I have, that are forecasting to add nearly 75 points to my credit report.  What's the source of the 75 point forecast?

They get reported on the 25th (capital one), and I am wondering if I can monitor experian and see when the new balances post, and trust it? Yes.  If you sign in to Experian, then go to Reports & Scores > Accounts you will see each account on your credit report and the date it is updated.  In my experience, Experian is the fastest credit bureau to update so you should see your Capital One account updated by the 27th and the other two bureaus two or three days later.  Experian updates nightly at midnight PST.

I need to get an auto loan soon, and do NOT want to run a prequalification or loan app until I am sure that my new balances, and new scores, are visible to an auto lender (or capital 1 auto navigator).  Since Experian only updates your three-bureau reports and scores once every thirty days, you need another method to monitor Equifax and TransUnion.  You can use a free service like Credit Karma but those tend to lag in reporting balance updates by a few days.  My suggestion would be to sign up for the $1 trial from CreditCheckTotal.com on the 30th or 31st.  That way you will be able to verify that your balances are updated on all three credit bureaus.

So, basically, can I trust the FICO scores on experian to be accurate and up to date, so that I can get an auto loan ASAP.  Yes, it says "FICO" right in the product name.

Thanks!

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[Anonymous]

Thanks! That is great to hear.

That forecast is from cap 1 credit wise and credit karma. I'm sure its exaggerated, but it will be significant to my score at even at half of that.

[Anonymous]

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@Anonymous wrote:
Thanks! That is great to hear.

That forecast is from cap 1 credit wise and credit karma. I'm sure its exaggerated, but it will be significant to my score at even at half of that.

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Capital One Credit Wise and Credit Karma use Vantage Score 3.0 scoring.  V.S. 3.0 scoring is significantly different from FICO 8 scoring; for example V.S. 3.0 is very sensitive to a credit card exceeding 50% utilization while FICO 8 score reaction to such an event is very much more muted.

[Shooting-For-800]

I have some type of unlimited membership with experian and my scores are Fico 8.

I can pull my credit reports every few days for "free" from each CR agency and the scores always match up to other sources.

[Shooting-For-800]

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@Anonymous wrote:

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@Anonymous wrote:
Thanks! That is great to hear.

That forecast is from cap 1 credit wise and credit karma. I'm sure its exaggerated, but it will be significant to my score at even at half of that.

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Capital One Credit Wise and Credit Karma use Vantage Score 3.0 scoring.  V.S. 3.0 scoring is significantly different from FICO 8 scoring; for example V.S. 3.0 is very sensitive to a credit card exceeding 50% utilization while FICO 8 score reaction to such an event is very much more muted.

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Mine is not different. 

My Cap One score is exactly the same as my TU score reported by experian and Barclays.  All 3 are the same.

[Anonymous]

By the way, will that website do a hard pull, or anything that affects my credit, if I do the $1 trial?

[Shooting-For-800]

Any time you pull your credit yourself (without an application), it does not count.

I pull all three of my reports not just the score literally every week.