First FICO score using Wells Fargo App

[Anonymous]

Hello,

I just logged into my Wells Fargo app and it is now showing my Fico score at 708 which is good. It is based on Fico score 9. My TransUnion shows 663.

Is this a good score to apply for a car loan?

[Anonymous]

The FICO 9 family of scoring models is used by some lenders, but lenders are much more likely to use a score from the older FICO 8 family.

You can get your three FICO 8 scores by signing up for the $1 trial offer at Credit Check Total.  It will also give you your full 3-bureau report (different from score).

If you like you should circle back with us and tell us what the report tells you about your credit cards.  You ideally want exactly one credit card reporting a small balance with all other cards reporting $0.  If that is not how your reports read, you may be be missing out on some scoring points.

[Anonymous]

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@AnonymousHello,

My TransUnion shows 663.

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When you say this above, which TU score are you referencing?  What's the source of the score?  I would imagine it's not a FICO 9 score.  The FICO 9 you get from WF, is it based on Equifax data? 

[Anonymous]

I am getting my TU from Capital One and Wells Fargo is showing me Fico score 09 from Experian. Is this supposed to be good news?

[Anonymous]

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@AnonymousI am getting my TU from Capital One and Wells Fargo is showing me Fico score 09 from Experian. Is this supposed to be good news?

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Unfortunately, you're comparing apples to oranges.  The TU score provided by Capital one is from the VS 3.0 model, which is not a FICO score.  You can toss that score out the window.  Your EX FICO 9 score from WF is more meaningful.  I'd suggest signing up at creditscorecard.com where you can get a free monthly EX FICO 8 score.  It would be cool to compare that score to your EX FICO 9 score and at least you'd have two scores from two different FICO models.  You may find your FICO 8 score is 20-30 points lower than your FICO 9, or you may be surprised to find that your FICO 8 is 20-30 points higher than your FICO 9.  If you grab this free score, please stop back in and update us as to what it is.

[Anonymous]

You can also get a free FICO 8 at creditscore.com which will get you your EX report in addition to the score.

A lot of people today are not familiar with pulling reports and looking at them.  This is really important.  Otherwise you won't know whether there might be easy ways to improve your score.

[Shooting-For-800]

Check Cap One for prequal interest rates on a new toyota or honda.  

You will know how good your car credit scores really are by the rate you get.

Cap One can go at least as low as $2.49% (I got it for 72 months with no money down.)

Cap One can go over 15% also (at least that is what I have heard.)

So judge your credit by the rate they give you between 2%-15%

GL