FICO V. PLUS

[Anonymous]

I am sure this question has been asked a bunch of times, but all of my searches are turning up old info. I have been working on my credit score and am proud that according to MyFico, I have gone from a low 500's (with one in the 400's) to two scores in the low 600's and one at 596.

Today, just for kicks I pulled my PLUS score through Experian and I have a 489, 484, and a 580. That means that the score descrepency is 102 points, 96 points, and 26 points. What is strange is that what got me to check into the PLUS score was an email I got today from MyFico telling me that one of my disputes came through in my favor and my credit score had increased.

How can this MUCH lower PLUS score be? Does the PLUS score even matter? I am just shocked (and discouraged) after all of the work I have been putting in the clean up my credit, to see 400's again... I thought for sure that I would be seeing low 600's.

We are planning to buy a house in the next year and I thought for sure that we were on track to do so with 600's right now, and our credit cards are still at 100% util. I was planning to pay off all of the cards with my end of fiscal year bonus that I will get in a few weeks, bringing util down to 10%... I figured that would give a pretty healthy score bump and line us up well for the mortgage. Hope we arent far further back than I thought.

[fused]

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

[bdhu2001]

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@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

With that being said, you're on the right track getting your true score on this site.  After you've purchased your score, be sure to use the simulator so you can see how the different scenarios affect your FICO score.  Use it a lot and be sure to list amounts, because you'll have access to it for 30 days after you purchase your score.

If you also want to see how your actions  your FICO Mortgage score, join one of the credit unions that give that score for free (PSECU  or Digital Federal Credit Union )

or purchase score power from Equifax. 

Most of all, do not be discouraged by fake sites, especially if the true score that you are getting shows you moving in the right direction.

[fused]

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@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

[bdhu2001]

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@fused wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

---

No you're clear and I understood. I call them FICO 04 too.  I just wanted OP to know how to obtain them.

[Revelate]

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@bdhu2001 wrote:

---

@fused wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

---

No you're clear and I understood. I call them FICO 04 too.  I just wanted OP to know how to obtain them.

---

To clear something up, the scores at myFICO are NOT Bankcard-enhanced.

They are the baseline / classic score, not any industry option.

[bdhu2001]

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@Revelate wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

---

No you're clear and I understood. I call them FICO 04 too.  I just wanted OP to know how to obtain them.

---

To clear something up, the scores at myFICO are NOT Bankcard-enhanced.

They are the baseline / classic score, not any industry option.

---

I don't think that the score here is Bankcard enhanced. I simply think it's FICO 08 the one that credit card companies use; just like FICO 04 isn't Mortgage enhance, but it's the one that Mortgage companies use. 

Has anyone using Score Watch gotten different figures from Bankcard scores and the scores provided by Score Watch?

[Revelate]

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@bdhu2001 wrote:

---

@Revelate wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

---

No you're clear and I understood. I call them FICO 04 too.  I just wanted OP to know how to obtain them.

---

To clear something up, the scores at myFICO are NOT Bankcard-enhanced.

They are the baseline / classic score, not any industry option.

---

I don't think that the score here is Bankcard enhanced. I simply think it's FICO 08 the one that credit card companies use; just like FICO 04 isn't Mortgage enhance, but it's the one that Mortgage companies use. 

Has anyone using Score Watch gotten different figures from Bankcard scores and the scores provided by Score Watch?

---

When posting here I'd encourage everyone to be explicit as possible as it's a confusing subject for virtually anyone.

I'd suggest referring to them as "lender scores" and leave the "Bankcard" terminology for Bankcard-Enhanced which is a FICO industry option.  Mixing and matching terms simply makes it even more awkward for discussion than just the muddied pool that FICO has created.

Anyway, I've received all sorts of scores from various credit cards, some straight FICO 8 as near as I can tell, and others likely FICO 8 Bankcard Enhanced, and a couple of others thrown into the mix as well.  If I wanted a benchmark for my credit card worthiness, the EX FICO 8 found here is my personal benchmark, but that's because every lender wants to see that report and it's the closest I have, either exact in the FICO 8 base version, or close enough for government work if the lender pulls a FICO 8 bankcard-enhanced industry option.

[bdhu2001]

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@Revelate wrote:

---

@bdhu2001 wrote:

---

@Revelate wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

---

@bdhu2001 wrote:

---

@fused wrote:

Welcome to the forums!

The EX Plus Scores are "educational". Virtually no lenders use them. Concern yourself with your FICO 04 scores, the ones mortgage lenders will most likely pull.

Good idea on paying down your CC's to 10% or less util. Paying down CC's is one of the fastest ways to improve your FICO scores. Best of luck!

---

Bear in mind that although you get the true FICO score here, it is FICO 08 (the FICO Bankcard score) not FICO 04.  For mortgages the following scores are used:

a. EQ  Beacon 5.0

b. TU Fico 04

C. EX Experian v2

---

I should have made myself more clear. I'm well aware the scores at myFICO are FICO 08. All three of the scores you listed with regard to a mortgage are the ones I was thinking of. I shouldn't have called them FICO 04 scores, tho.

---

No you're clear and I understood. I call them FICO 04 too.  I just wanted OP to know how to obtain them.

---

To clear something up, the scores at myFICO are NOT Bankcard-enhanced.

They are the baseline / classic score, not any industry option.

---

I don't think that the score here is Bankcard enhanced. I simply think it's FICO 08 the one that credit card companies use; just like FICO 04 isn't Mortgage enhance, but it's the one that Mortgage companies use. 

Has anyone using Score Watch gotten different figures from Bankcard scores and the scores provided by Score Watch?

---

When posting here I'd encourage everyone to be explicit as possible as it's a confusing subject for virtually anyone.

I'd suggest referring to them as "lender scores" and leave the "Bankcard" terminology for Bankcard-Enhanced which is a FICO industry option.  Mixing and matching terms simply makes it even more awkward for discussion than just the muddied pool that FICO has created.

Anyway, I've received all sorts of scores from various credit cards, some straight FICO 8 as near as I can tell, and others likely FICO 8 Bankcard Enhanced, and a couple of others thrown into the mix as well.  If I wanted a benchmark for my credit card worthiness, the EX FICO 8 found here is my personal benchmark, but that's because every lender wants to see that report and it's the closest I have, either exact in the FICO 8 base version, or close enough for government work if the lender pulls a FICO 8 bankcard-enhanced industry option.

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Will do.

[rhall2009]

 I know that the plus scores from experian are fakos but my question is as the lates within the 24 month period drop off does your scores rise or does the plus score remember hey he/she hasn't been late within th 24 months but there was a time he/she was late?