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FICO Scores??????????????

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Contributor

Re: FICO Scores??????????????

Thats encouraging!


Starting Score: 625
Current Score: EX 725 TU 665 EQ 689
Goal Score: 700


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EXP(669) EQ(637) TU(625)
Message 11 of 14
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Valued Member

Re: FICO Scores??????????????

The score from equifax website is the beacon 5? The one used for mortgages?
Is the one posted on myfico from equifax marked as beacon 5 mortgage score accurate?
I ask because mine are very very different.
I thought the score from equifax was a fako?
Message 12 of 14
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Moderator Emeritus

Re: FICO Scores??????????????


@Patriceandjosh wrote:
The score from equifax website is the beacon 5? The one used for mortgages?
Is the one posted on myfico from equifax marked as beacon 5 mortgage score accurate?
I ask because mine are very very different.
I thought the score from equifax was a fako?

You probably bought the credit score (educational) that EQ also peddles.

 

The Score Power and Score Watch products are the real deal EQ Beacon 5.0 scores.




        
Message 13 of 14
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Moderator Emeritus

Re: FICO Scores??????????????


@2b2rich wrote:

@shorthiar wrote:

    Who does use the Fico 08?? It's the hieghest number and  fastest to go up but it's kinda misleading if no creditors use it.


From what I've been reading, a lot of lenders are moving toward using that one.  I don't know how soon or how many are doing it, but I know the dealership told me what score some of the lenders were sending back with their offers were my actual FICO8s (and as you pointed out, the highest and were the ones with the lowest interest rate)


Most major CC issuers have long since moved to FICO 8.  Smaller companies (my own employwer just switched 3ish months ago) are too.  Outside of the mortgage and auto loan worlds, FICO 8 is the most common absolutely.

 

Many CU's that we're familiar with on this forum still underwrite on the older models still.




        
Message 14 of 14
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