FICO Classic 98

[Anonymous]

Are the scores purchased at myFICO.com Classic 98 scores?

[Anonymous]

I would think they have had updates since 1998. If you mean FICO 08 release. Not yet.

[Anonymous]

A quick search of the forum leads me to believe that TU still uses the Classic 98 version of FICO.  I'm just curious if the myFICO TU score is a Classic 98 score.

[haulingthescoreup]

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@Anonymous wrote:

Are the scores purchased at myFICO.com Classic 98 scores?

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I think that the scores here are Equifax BEACON 5.0, Experian FICO II, and TransUnion FICO Classic 98.

So if you're asking about TU, you're probably right. TU commissioned a new formula several years back, and as soon as it's being used by more than 50% of US lenders, it will be used here. Seems like the "new" one is 2003 or something? which just shows how long it takes for change to percolate through any industry.

[Anonymous]

Thanks.  We just opened our HELOC and the CU sent us the scores they pulled.  They were labeled FICO Classic 98 and were from TU.  I wanted to see if they were the same as here or if I was comparing apples and walnuts.

[Anonymous]

<Bump>

Interesting/Provocative article here about Classic '98, FICO '04 and FICO '08

[MidnightVoice]

The interesting thing about it is that he says MyFICO's version of the TU score is so out of date it should be considered a FAKO  

[marty56]

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@MidnightVoice wrote:
The interesting thing about it is that he says MyFICO's version of the TU score is so out of date it should be considered a FAKO  

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I pulled my TU score from Transunioncs yesterday since I didnt like my 25 point TU drop and it was the same as the score from here.  So it would seem that they both use the same version.

IMHO MyFICO/TU version gives me a higher score but it would be interesting to see what the other vesrion would give me now with the recent score drop.

[marty56]

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@Anonymous wrote:

Interesting/Provocative article here about Classic '98, FICO '04 and FICO '08

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Dang, I wish I had known about the acrticle before I went to transunioncs and paid $15 for my TU score.