My Fico vs True credit

[morganirish]

Why are credit scores different between my fico and true credit?  Which one is most accurate or are they estimates? 

[Anonymous]

Fico is the score that is usually pulled by lenders/cc companies etc to judge your credit worthiness.  Certainly the one that is most often pulled for mortgages (mine matched precisely on the day they ran our reports for preapproval)

[morganirish]

So even if I pull my credit score and credit report directly from the CRA- it won't be accurate? 

[Anonymous]

Well Transunion have a seperate site where you can buy their credit report + Fico score for just TU

https://www.transunioncs.com/TCSWeb/entry/home.do;jsessionid=G8HvKR9ZvWLTgPN2zv3GTJC8rg1bJkDmCRQpn3FDfv2Wl7xpmK06!165216004

(you have to go to that cs site not their normal one, the regular TU site sells fako)

Equifax you can buy the Fico score from

http://www.equifax.com/fico-credit-score/

The experian Fico scores are no longer sold to the public, so you won't be able to get that unless you apply for a loan and can get the LO to give you your score.

If you decide to buy the Fico scores from TU and EQ on this site then make sure you google for myfico discount and you can find a code that will give you 25% off.

[haulingthescoreup]

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morganirish wrote:
So even if I pull my credit score and credit report directly from the CRA- it won't be accurate? 

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It's not so much that the FAKO's aren't accurate; it's that they're pretty much useless. Hardly any lenders use the scores that you get from TU or EX, or from the third-party lenders.

FICO scores are the ones that are used the most by far, and the ones that people understand, kinda, sorta.

[Anonymous]

Susyquk wrote:

https://www.transunioncs.com/TCSWeb/entry/home.do;jsessionid=G8HvKR9ZvWLTgPN2zv3GTJC8rg1bJkDmCRQpn3FDfv2Wl7xpmK06!165216004

(you have to go to that cs site not their normal one, the regular TU site sells fako)

Equifax you can buy the Fico score from

http://www.equifax.com/fico-credit-score/

Well Transunion have a seperate site where you can buy their credit report + Fico score for just TU

The experian Fico scores are no longer sold to the public, so you won't be able to get that unless you apply for a loan and can get the LO to give you your score.

If you decide to buy the Fico scores from TU and EQ on this site then make sure you google for myfico discount and you can find a code that will give you 25% off.

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I'm looking into signing up for  a monitoring program w/ actual FICO's

Equifax Score Watch thru myfico site is $8.95/mth or $89.95/yr

Equifax Score Watch thru EQ site is $9.95/mth which is 119.40/yr---with 25% discount is $89.55

Transunion Quartely thru myfico site is $4.95/mth or 49.95/yr(1 payment)

Transunion Quarterly thru TUcs.com(real fico) is $19.95/quarter which is 79.80/yr--with 25% discount is $59.95

So it appers Score Watch is the same cost essentialy whether EQ or myfico site

TU Quartely  is $10 cheaper thru myfico site.

So, to track TU and EQ with FICO's will cost $140/yr

Myfico should offer a discount for ordering two products Score Watch and TU quarterly.

[Anonymous]

Actually I found a promo code for myfico for 20% off.

So 20% of TU quartely  with 1 payment makes the price drop from 49.95/yr to $39.96/yr

Doesn'tbring up a promo code box on 1 yr Score Watch which is $89.95 but you have 1 mth trial free.

If you use the monthly billing option of Score Watch of  $8.95 the 20% off drops it to $7.16/mth calculates out to $85.92/yr saves little from the $89.95 one time payment though I would prefer one lump sum payment.

So full year for both is $126

[haulingthescoreup]

My favorite combo is SW and Suze, both through here.

Scorewatch will give me two free scores and reports, and when it lurches into life occasionally, I get more free scores and the reports are discounted if I want to buy them.

Suze lets me pre-pay for 3 reports, to be pulled at any time from either bureau. (EX is out, of course.)

You can find discount codes to use on each.

The Suze scores and reports will display for the year that you're subscribed. They will go away after that though, even if you renew, so be sure to save them to disk or print them out.

Anyway, since TU is the red-headed stepchild where I live, three scores and reports a year are plenty. The rest of the time I can spend wondering how Scorewatch is chugging along.

[morganirish]

Thanks everyone.  Next question, how often does a score change?  Currently I only have TU-which on My Fico is 625 (I know, it is bad) I have one cc, I never carry a balance, but I have had some late payments in the past.  I have a car loan that is almost a year old now, and one med collection that I will pay,  so, is it time that "heals" the score?  If so, how much time?

[llecs]

The score changes based on various events like TLs dropping off, status changes, date changes, etc. If you keep your CC at or near $0, then there won't be too much happening on your CR to cause a change in score.

Based on what you say, your next change could occur when your CC reports a balance. You may also see a change if the lates are removed. Lates, like 30 or 60 days generally don't impact your score beyond 2 yrs. If the lates are younger, you may see a gradual increase up to that point. If the lates are 90 days or beyond, then you might see an increase when they fall off. You might see an increase when that car note turns 1 yr old. You'll likely see an increase if the CA is removed (paying it without HIPAA could drop your score). Otherwise, it is time that would help your score. You could see increases when your oldest account reaches another birthday and same goes for your AAoA changing to another year.