TU04 vs. TU98?

[smallfry]

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@Anonymous wrote:

I just wanted to clarify a little further. It seems that under utlization of credit can hurt you just like over utilization can. From everything I have read on this board and learned over the years, it's best to keep revolving credit balances at 7-10% of the available balance, if not a little less.  Mine is at 4%.  The whole point of this thread, though, is that myFico is not selling "true" TU scores.  They are selling what amounts to an outdated, useless score that lenders no longer use.  So I, for one, now consider the TU score a FAKO score and will not buy another TU score from myFico until they provide a true, current, and useful score.  A 64-point difference between what I pull here and what a lender pulls less than 5 minutes later is simply ridiculous.

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With you on that. I am not pulling TU anymore until they go to the updated scoring model.

[tbone74]

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@tbone74 wrote:

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@Anonymous wrote:

I pulled my TU score from myFico on 3/5, and it was 664.  I immediately called my mortgage broker (I mean within less than 5 minutes) and asked her to pull my TU score, and she pulled a 600 (they use TU04, like almost everyone does now)!  

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Uh oh....now that totally got my anxiety going!  I'm going to see my LO this Friday for our VA Loan.  Initially, the first set of scores she pulled were on 02/04/2010: TU (via TU04) 608/ TU98 Score 638 / EQ: 613 / Exp: 663.  

Since then, I've had several baddies removed.  The change:  TU98 670 / EQ: 616 / Exp: ?   

After seeing my TU98 score go up 32 points.....I WAS pretty confident that my TU04 would be above 620.  But, after reading the above post indicating a 64 point difference....I'm not so confident.  

Darn credit scoring systems......aghh!

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Update......no worries...

02/04/10-  TU04-608  EQ: 613 EXP: 667

now

03/29/10= TU04-667 EQ: 616 EXP:  676  

And received mortgage pre-approval yesterday!!!!

Oh...and for comparison purposes....on my 02/04/10 pull TU98-638 / TU04-608.  After the removal of 4 CA and 2 CO's....TU98-670 / TU04-667.  

[Anonymous]

Congratulations, T-Bone!  That's awesome!  Glad the different scoring versions didn't cause a problem for you. 

[AndySoCal]

Congratulations Tbone on your mortgage approval!!!!  Let me also make a couple of comments on this whole discussion.  I have been trying to find a site that might have the differences listed but could not find one.  As I posted earlier in this thread the main difference is the shopping period.on mortgage and auto loans. Those of you that have differences gotten copies of you  Trans Union 04 score here are a couple things to keep in mind.  One most likely the credit report  each tradeline will be blended or composite of what all the bureaus are reporting. The problem in comparing a blended trade line with a single bureau credit report is you do not know which bureau is reporting that data.  The composite or blended  trade line may look like what your single bureau report has but take that with a grain of salt.  If you see things being reported a credit bureau that are not on your credit report form that same bureau check how they entered your name address and SSN. Those differences are indicating a problem exsists.  Also check the score reasons on both reports are they the same ones and are they listed in the same order. Remember order makes a difference because the reasons are listed in order of impact on the score. Every time the score model is updated depending on your credit history somes those change(s) will help your score and for some it will  lower the score and others it will have not effect. This has been true every time the score model has been updated.

[ficonovice]

I don't think utilization is treated more harshly by TU04.

My util is horrible and my TU04 score is 44 points higher than my TU98.

I don't think there's a common thread any of us can logically point to that explains the wild

variances +/- experienced by many of us.

Very frustrating indeed!

[Anonymous]

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@Anonymous wrote:

Correct me if I'm wrong but currently TU04 is the latest version of the TU score?  I just wanted to collect and also give some data surrounding this subject.  For instance, my TU score through MyFico is 727 and after a recent LO pull, my TU score (most likely using the newer version) was 702.  Do we know what was changed to make the scoring more strict for the newer version?  I was also shocked to see my EX score of 747 on the pull.  It's a shame I can't pull my report from them to see what's different.

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This will probably create more confusion.  Had my KROLL did a hard pull for me today and my TU04 was 669, TU98 is 627 here.  EQ Beacon 5 through lender was  630 on report, but 644 through myFICO.  Weird how the BEACON is so different, and for me TU04 was 42 points higher.

Trying to get it to 680... My mid is 661.  Hopefully I don't dip below 661. 

[Anonymous]

wrt to the. Wacom 5 being different between myFico and lender pulled, perhaps what your lender pulled was a mortgage enhanced score?