Which lenders/issuers use Score3?
I ask because it's a significant outlier compared with the rest of my scores (30 points or more lower than my other 850-scale scores).
I ask because it's a significant outlier compared with the rest of my scores (30 points or more lower than my other 850-scale scores).
USAA is the only one I know of (EX Bankcard Score 3). It is also my lowest, currently at 711.
Mine had always been significantly lower than my other scores before my last late (30D) was removed. After it was removed my EX3 score was/is higher than my EX MTG.
The 1st reason code always referenced the late payment and 2nd was outstanding MTG balance. 3rd reason code was you've recently been looking for credit and at that time I had 1 inquiry for a CLI 5M old and 1 inquiry at 1Y10M for my youngest account, same age. This was mid 2018. Opened a new account 9/2019 and late was moved to 2nd and new account was 1st. 30D late was removed 10/2019 and score jumped 27 pts to 803 which doesn't provide any reason codes.
Seems like lates, new accounts up to 2 years and INQ's are weighed heavily.
Yeah, that tracks. My EX mortgage score is 801. The Score 3 complaints are shown below.
Are you sure USAA uses EX FICO 3?
Sounds not right, the entire industry up and skipped that score model and stuck with EX FICO 2 because the GSE's did. Lots of lenders went straight to FICO 8, but unlike EQ FICO 5 the FICO '04 varient from EX just never caught on.
Also it's not a bankcard industry option, out of 850, not 900.
@Revelate wrote:Are you sure USAA uses EX FICO 3?
Sounds not right, the entire industry up and skipped that score model and stuck with EX FICO 2 because the GSE's did. Lots of lenders went straight to FICO 8, but unlike EQ FICO 5 the FICO '04 varient from EX just never caught on.
Also it's not a bankcard industry option, out of 850, not 900.
Sure as in 'absolutely postively and willing to bet my savings' sure? No.
Kinda sure as in the last 2 times they gave me my score pulled from EX, along with an approval, the only one it matched was EX 3. Yes. Last time was in April 2019.
Edit: I actually updated my 11/2018 approval post once I received their FACTA with an Experian score of (boo!) 706 as an FYI at the time:
Bankcard (BC) enhanced industry option has a max score of 900.
Both Experian and myFICO show the max to be 850 for their FICO 3. Pretty sure as a result it is classic and not BC.
Both Experian and myFICO show the max to be 850 for their FICO 3. Pretty sure as a result it is classic and not BC.