@bdhu2001 wrote:Is the FICO score provided on your credit card statements your true FICO score? If so, why is it so different than the score I see from credit monitoring service? I heard that there are different FICO scores for mortgage that tends to be lower than other FICO scores and that automobile FICO scores tend to be higher. Which one is liste on the credit card statements, because they do say FICO. Example:
Credit Card Statements: TransUnion 737; Experian 751
Monitoring service: Equifax 720; TransUnion 702; Experian 714.
There are different FICO scores (like 50 of them) and unfortunately the generalizations you state aren't applicable: namely, scores will be higher for some, and lower for others, when compared against other scores.
If the score says FICO on it, it is a FICO score. If it doesn't, it is not, aka FAKO which many of the credit monitoring services use. FAKO's are mostly educational, there are a few (Vantage scores, maybe a few others) which are actually used by lenders for underwriting decisions.
Most of the credit card provided scores if not all of them are now FICO '08, Transunion from Discover / Barclay's / Walmart, TU '08 Bankcard enhanced from Merrick, and an EX '08 Bankcard enhanced from FBNO.
Monitoring service depends on what you use, but most aren't worth much except as truly simple benchmarks over longer periods of time on the premise that a pretty report will result in a pretty score regardless of the algorithm used. That applies to FAKO scores as well as FICO ones.
TrustedID isn't a FICO score, from their marketing disclaimer (emphasis mine):
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The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The 3-bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
@bdhu2001 wrote:
@Revelate wrote:TrustedID is a different sort of risk analysis; namely, they market their Identity Theft Score, or your risk for having your identity stolen or some such.
This isn't a credit scoring algorithm of any sort unless they provide some other bit which they don't advertise, but I can't imagine they would and not put it out there like every other vendor on the planet (Lifelock being one of their competitors as an example).
I know, but they also give you your FICO score & report for all three agencies annually. When you first sign up, they give you your score from all three agencies. After that, TrustedID gives you your Equifax score monthly. Lifelock gives you your TransUnion score monthly. Here's a link to site that gives you comparison http://www.nextadvisor.com/identity_theft_protection_services/compare.php on the theft protection services.
Hehe, you were faster than me, I saw that, then dug a little deeper and edited my post: you requoted my idiocy for posterity, well done sir! 
Though you quoted and posted ~10 min later I'd note hehe.
It's not a FICO score though, see the revised message I posted up above.
@Revelate wrote:
@bdhu2001 wrote:
@Revelate wrote:TrustedID is a different sort of risk analysis; namely, they market their Identity Theft Score, or your risk for having your identity stolen or some such.
This isn't a credit scoring algorithm of any sort unless they provide some other bit which they don't advertise, but I can't imagine they would and not put it out there like every other vendor on the planet (Lifelock being one of their competitors as an example).
I know, but they also give you your FICO score & report for all three agencies annually. When you first sign up, they give you your score from all three agencies. After that, TrustedID gives you your Equifax score monthly. Lifelock gives you your TransUnion score monthly. Here's a link to site that gives you comparison http://www.nextadvisor.com/identity_theft_protection_services/compare.php on the theft protection services.
Hehe, you were faster than me, I saw that, then dug a little deeper and edited my post: you requoted my idiocy for posterity, well done sir!
It's not a FICO score though, see the revised message I posted up above.
True that. My appologies. It's not a true FICO for all three Bureaus, but since it's lower than my FICO bankcard score, I'm hoping it's close enough to my FICO enhanced mortgage. Since a new mortgage loan is what I want, in the next year, I'll watch that score along with my FICO bankcard scores listed on my credit card statements. Trying to get my mortgage score above 760 so shooting for 800 doesn't hurt.
@bdhu2001 wrote:
@Revelate wrote:
@bdhu2001 wrote:
@Revelate wrote:TrustedID is a different sort of risk analysis; namely, they market their Identity Theft Score, or your risk for having your identity stolen or some such.
This isn't a credit scoring algorithm of any sort unless they provide some other bit which they don't advertise, but I can't imagine they would and not put it out there like every other vendor on the planet (Lifelock being one of their competitors as an example).
I know, but they also give you your FICO score & report for all three agencies annually. When you first sign up, they give you your score from all three agencies. After that, TrustedID gives you your Equifax score monthly. Lifelock gives you your TransUnion score monthly. Here's a link to site that gives you comparison http://www.nextadvisor.com/identity_theft_protection_services/compare.php on the theft protection services.
Hehe, you were faster than me, I saw that, then dug a little deeper and edited my post: you requoted my idiocy for posterity, well done sir!
It's not a FICO score though, see the revised message I posted up above.
True that. My appologies. It's not a true FICO for all three Bureaus, but since it's lower than my FICO bankcard score, I'm hoping it's close enough to my FICO enhanced mortgage. Since a new mortgage loan is what I want, in the next year, I'll watch that score along with my FICO bankcard scores listed on my credit card statements. Trying to get my mortgage score above 760 so shooting for 800 doesn't hurt.
Pretty much nobody is using the mortgage-enhanced FICO to my knowledge; GSE's still on FICO '04, and it wasn't introduced till FICO '08.