How often do all versions update

[Anonymous]

Hello all.

I'm a little new to this, so I would appreciate some insight on this. I understand from reading this site that there are numerous score versions that lenders may use. My question is, on this site you get your FICO 08 from all three bureau's. Then you can compare that to the other versions. But if my 08 is updated, why would the others stay the same? Are they not relative to each other? Is that not available on this site?  Example, when I started on this site last Aug., my TU 08 score was 660. My TU 04 also was 660. Now, I was able to raise my TU 08 to 727. I just applied for a CC and was approved, and on the letter it said they used the TU 04 and it showed a score of 660! Don't get me wrong, I'm glad I was approved, but why don't  the other versions reflect change as well? I know this site updates reports quarterly, but I also thought that when you apply for something it is based on your score at the time you apply. This 04 score is 3 months old. When do they catch up? Same goes for EX, and EQ as well. Basically, this only means I should apply for something that only uses the 08 version? Not many options out there for that. Does it really matter if my 08 scores go up on all 3 reports frequently, if all the other versions lag behind? How do you really know where you stand score wise? I'm very confused. Thx.

[Anonymous]

I admit that the situation you describe is puzzling.  To recap it for anyone reading this thread:

* 90 Days ago (roughly) you used myFICO to pull all your scores.  At that time, your TU FICO 8 and your TU FICO 04 were both 660.

* Since then you have worked to improve your credit and you have brought your TU FICO 8 to 727 -- an increase of 67 points.

* You just applied for a new card (a few days ago), and in the acceptance letter it said that your FICO 4 was 660.

* You are puzzled -- if you increased your FICO 8 by 67 points, then wouldn't your FICO 4 have gone up a little?

Yup, you sure would think that.  Seems strange to me too.  It might help if you can clarify the exact dates for the following:

      * When did you pull your myFICO scores?

      * When did you see that your TU FICO 8 had gone up to 727?

      * When did you apply for the recent credit card?

It may also help if you can tell people the name of the credit card issuer and double check one more time to be certain that the issuer used Transunion data and used the FICO 4 (Classic) model.  (And just double check all the score numbers you gave us.)

PS.  Do you have the quarterly myFICO monitoring tool?  If so, when will you be pulling your next quarterly report?

[Anonymous]

PPS.  Welcome to the forums!

[Anonymous]

I first pulled my scores 8/10/16. My next update is 11/10/16. My last 08 update was yesterday +13 when they added this new account. When I applied TU 08 showing 716 ( my mistake )  TU 04 showing 660. The letter from US Bank clearly states they used TU Risk Factor 04 (classic). I was approved for the second tier version of this card with a higher interest rate ( 23.45%) when the introductory period expires ( 0% for 15 months) with 4,500.00 CL. Maybe call recon line?

 cc applied for : Harley Davidson Signature Visa ( US Bank )

Date applied : 10/19/16

TU 08 - 716 10/19/16   TU 04 - 660 10/19/16

[Anonymous]

You pulled your myFICO scores on Aug 10.  (FICO 8 and FICO 04 both 660.)

You applied for the credit card on Oct 19.

How do you know that by Oct 19 your FICO 8 score had increased to 716?  Had you been getting "alerts" (via the myFICO monitoring product) prior to Oct 19 telling you that it had increased to 716?   If so, when did you get the alert?  If not, is there some other way that you know your FICO 8 score had increased to 716 by then?

[Anonymous]

Yes. I get alerts regularly for all 3 bureaus. Previously to the 716 alert I was at 711.

[Anonymous]

When did you get the 711 alert?  Roughly, if you don't remember the exact date.

[Anonymous]

10/10 : 708 to 711

10/19 : 711 to 716

[Anonymous]

Well then, there's no question that you were at 711 at least a week before you applied for the credit card.  So that's an increase of 51 points in FICO 8 and 0 points in FICO 04.

There are some things you could have done to give yourself a substantial FICO 8 boost which might give you zero FICO 04 boost.  The two models handle derogs very differently, for example.  (A paid collection under < $100 is treated as though it never happened in FICO 8.) And FICO 8 gives you a big boost for paying down installment debt which (I am told) FICO 04 does not.  So there is nothing impossible about what happened. 

But.... if the steps you took to improve your FICO 8 score was simply stuff like paying down CC debt, then it would have been impossible to get 0 points for doing it in FICO 04.

[Anonymous]

Thx. That explains some of the mystery. But what I still don't understand is, what's the use of having a false belief of the FICO score on the site? The updates and scores really don't reflect what lenders use or see unless they use 08. I chose this service because I thought that the FICO score was the only accurate one as opposed to the other FAKO scores. Ultimately they're all the same, can't trust either one for accuracy. I'm curious to see if anything changes with my new update on 11/10. Thx again for your help....