Need to understand score difference

[tayjoemom2628]

I applied for an auto refinance loan and was approved. I went in to sign the papers today and they gave me a document with my credit score on it. It says my Experian score was 624. On myfico its says my Experian score is 663. Why the difference?

[Anonymous]

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@tayjoemom2628 wrote:

I applied for an auto refinance loan and was approved. I went in to sign the papers today and they gave me a document with my credit score on it. It says my Experian score was 624. On myfico its says my Experian score is 663. Why the difference?

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There are all kinds of version of Experian (as well as Equifax and Transunion) credit scores.  Most often, auto dealers and leders use an 'auto enhanced' version of Fico scores while the score you see on Myfico is your standard Fico 08 score.  There are different models (different years) of Fico as well as the aforementioned auto enhanced version along with bankcard enhanced and mortgage versions.  It can be very complicated trying to sift thru all the various versions.  This link is a good start:

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-version...

[tayjoemom2628]

I have the myfico 3B that shows the auto score and it says it was 669. There's too many versions it's confusing.

[Anonymous]

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@tayjoemom2628 wrote:

I have the myfico 3B that shows the auto score and it says it was 669. There's too many versions it's confusing.

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You're right.  It is very confusing.  There are Fico 04 and Fico 08 versions of the auto enhanced score

[tayjoemom2628]

I was reading the link you gave me and I looked at the myfico 3B scores. They use the fico 2 score.

[Anonymous]

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@tayjoemom2628 wrote:

I was reading the link you gave me and I looked at the myfico 3B scores. They use the fico 2 score.

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Wow, that's from the Fico 98 model.  Still a few lenders out there that still use it.  Was this a credit union?

[tayjoemom2628]

I refinace with Chase. If they use the fico 98 model for auto refinance do you think that's the same one they will use for a credit card application or credit limit increase?

[Anonymous]

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@tayjoemom2628 wrote:

I refinace with Chase. If they use the fico 98 model for auto refinance do you think that's the same one they will use for a credit card application or credit limit increase?

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No, they definitely don't use Fico 98 for credit cards.  Mostly they use Fico 08 but they also have an internal score for you that they utilize.

[tayjoemom2628]

I have a 663 with fico 08 and wanted to request a credit line increase on my freedom card. I'm afraid it will be decline and I don't want to waster a hard pull.

[Anonymous]

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@tayjoemom2628 wrote:

I have a 663 with fico 08 and wanted to request a credit line increase on my freedom card. I'm afraid it will be decline and I don't want to waster a hard pull.

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What's your limit now?  How long have you had the card?  Do you have any other Chase credit cards?  What 'baddies' do you have on your credit report?  Chase is very finicky with credit limit increases so it's difficult to foretell the results.