FICO score shock

[awal]

Congrats. You're in the 800 club.

[Anonymous]

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@awal wrote:

Congrats. You're in the 800 club.

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I will not consider myself in the 800 Club until all three of my FICO's are 800+ (that's just my humble opinion.)

But like I said in my earlier reply, an 834 EX FICO, is awesome, I hope to see my scores like that some day.

[JeffS]

I hate to be a Debbie Downer but are you sure that's not your consumer score? I went through this exact thing awhile back only to find out my lender score was right where I had thought, BAD, LOW, NOT GOOD ENOUGH! Hopefully, that is your lenders score and if so congrat's.

[MarineVietVet]

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@JeffS wrote:

I hate to be a Debbie Downer but are you sure that's not your consumer score? I went through this exact thing awhile back only to find out my lender score was right where I had thought, BAD, LOW, NOT GOOD ENOUGH! Hopefully, that is your lenders score and if so congrat's.

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HI Jeff and welcome to the forums.

I'm not sure what the difference is between a consumer score and a lender score.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@MarineVietVet wrote:

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@JeffS wrote:

I hate to be a Debbie Downer but are you sure that's not your consumer score? I went through this exact thing awhile back only to find out my lender score was right where I had thought, BAD, LOW, NOT GOOD ENOUGH! Hopefully, that is your lenders score and if so congrat's.

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HI Jeff and welcome to the forums.

I'm not sure what the difference is between a consumer score and a lender score.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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Hey MVV, you think it's possible JeffS might be referring to (example) like how AmEx has their own internal scoring model? Say you have an 821 EX FICO, and then AmEx runs other factors on your reports through their own scoring model and may come up with a different score (not a FICO) rather AmEx's own scoring risk model score?

When AmeX provides you with your EX FICO, it is indeed your consumer FICO, AmEx will not send you the score they have come up with using their own internal scoring model.

I hope my info is correct and accurate, if not someone will chime in and clear it up.

[Imhotrodcrazy]

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@JeffS wrote:

I hate to be a Debbie Downer but are you sure that's not your consumer score? I went through this exact thing awhile back only to find out my lender score was right where I had thought, BAD, LOW, NOT GOOD ENOUGH! Hopefully, that is your lenders score and if so congrat's.

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All I can say is that the lady at AMEX stated to me that my  EX Fico was 834.  I have nothing in writing, only her word.  I guess the only way to prove it further is  to apply for another card, but I am not willing to do that since I don't need another card. 

[JeffS]

Apparently, when you buy your scores on transunion it's much much higher than what fico or lenders see. I recently tried purchasing a home and found out the embarrassing way. My scores were only 615, 612, 610 through fico and my lenders score. I'm green to this whole credit thing anyway. I thought by paying cash for everything was the responsible thing to do but if you ever intend on getting a loan, it's not happening! I'm working hard to establish credit through the things I've learn from here. Credit Card, revolving line of credit and a installment loan, all advice from here has helped raise my score but time is the only thing now left to do. Never knew slow paying could harm your credit as bad as it does! Thanks!

[MarineVietVet]

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@JeffS wrote:

Apparently, when you buy your scores on transunion it's much much higher than what fico or lenders see. I recently tried purchasing a home and found out the embarrassing way. My scores were only 615, 612, 610 through fico and my lenders score. I'm green to this whole credit thing anyway. I thought by paying cash for everything was the responsible thing to do but if you ever intend on getting a loan, it's not happening! I'm working hard to establish credit through the things I've learn from here. Credit Card, revolving line of credit and a installment loan, all advice from here has helped raise my score but time is the only thing now left to do. Never knew slow paying could harm your credit as bad as it does! Thanks!

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You found out the hard way, just as I and many others have, that the scores from the TU site are not FICO scores. They are called VantageScores and although a few lenders are now using the VS it's not widespread.

Not only does the VS use different scoring formulas than FICO the score ranges are much different. VS goes from 501-990 whereas FICO ranges from 300-850.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Are you sure it was a "FICO" score?

[Anonymous]

As someone who had a FICO score shock recently congrats! Welcome to the club. My high scores are due to a credit card I never thought I had. When I opened my checking account with BoA in 2004 I didnt know they also gave me a credit card. Obviously never used it and it was closed by BoA in 2008 but it did wonders for my credit age and AAoA.

Always nice to be surprised by your score in a good way. Now if only we can buy Experian FICOs like we can for EQ and TU here I would be a happy camper. Really annoying to know I can't get my EX score.