Will the real FICO please stand up?

[Anonymous]

WHich is the real FICO compared to wehat credco uses for a mortgage app?

I've tried creditexpert by experian, myFico and Equifaxes "All 3 FICO and report".

All 3 of these give me completely different numbers.

WHich ones are the ones credco will see?

I am freaking out because the equifax website has my scores well below  the others.

[MarineVietVet]

Hello and welcome to the forums.

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@Anonymous wrote:

WHich is the real FICO compared to wehat credco uses for a mortgage app?

I've tried creditexpert by experian, myFico and Equifaxes "All 3 FICO and report".

All 3 of these give me completely different numbers.

WHich ones are the ones credco will see?

I am freaking out because the equifax website has my scores well below  the others.

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The scores from CreditExpert (or any score from the Experian website) are NOT FICO scores. The same goes for the Equifax Complete product. None of those 3 scores is a FICO score. In fact there is no 3 in 1 monitoring service that offers FICO scores.

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money.

At one time you could purchase your Transunion score at www.transunioncs.com but there seems to be problems with that site lately. At www.equifax.com EQ will still sell you an EQ FICO score but you have to look very hard to find it.

Whatever scores a lender pulls will be true FICO scores. It seems most pull all 3 scores but do you know exactly what they pulled?

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Im not sure what credco pulled, I got the alert from.eqiifax that they pulled it this morning. The equifax score on myfico is 644, eqiifaxs website says my "fico" is 587. I am nervous because equifax is reporting all 3 of my scores lower than myfico and creditexpert.com

[Anonymous]

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jandlynn wrote:
Im not sure what credco pulled, I got the alert from.eqiifax that they pulled it this morning. The equifax score on myfico is 644, eqiifaxs website says my "fico" is 587. Take another look at the score from the Equifax website.  Does it say Credit Score or FICO score?  FICO is trademarked, so you can always look for the FICO logo.  Equifax sells other credit scores on their sites that are not FICO - often consumers assume a credit score is a FICO score.  Equifax is well aware of that.  I am nervous because equifax is reporting all 3 of my scores lower than myfico and creditexpert.com  If you are getting all three scores from the Equifax website they are FAKO's.  Pull your FICO scores here. 

Always ignore FAKO scores - they are causing you way too much stress and they are not what lenders pull. 

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[MarineVietVet]

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@Anonymous wrote:
Im not sure what credco pulled, I got the alert from.eqiifax that they pulled it this morning. The equifax score on myfico is 644, eqiifaxs website says my "fico" is 587. I am nervous because equifax is reporting all 3 of my scores lower than myfico and creditexpert.com

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This is the only score of the ones you've listed that is accurate. Ignore the others.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

OP,  you may find it helpful to read fused's Son of Credit Scoring 101. 

[Anonymous]

Thank you everyone. I do see that the only scores that explicitly state "FICO" is here.

I am still a little confused, what will the lender use? These MyFico scores or others?

I don't know what their report says as they just pulled it today. I saw the alert come in for a hard pull from Credco.

Should I  be concerned about not qualifying based on credit scores or wil they use the FICO scores (if they use the FICO as scored here on myfico I will be fine)

My scores here on MyFico are 660 and 646, but are much lower when I view through the "Equifax 3-Bureau Credit Report and Scores" webpage on the equifax site.

Sorry, this is all pretty confusing to me and I really really really appreciatte everyones thoughts!

Thank you again.

[MarineVietVet]

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@Anonymous wrote:

Thank you everyone. I do see that the only scores that explicitly state "FICO" is here.

I am still a little confused, what will the lender use? These MyFico scores or others? I know of no lender who uses non-FICO scores to make credit decisions. If the lender pulls EQ it will be the same version (Beacon 5.0) that you get here at myFICO. If the lender pulls TU it will most likely be TU04. The version of TU used here is TU98, an older version. The scores for the same information will likely be slightly different for TU98 vs. TU04. Which one will be higher ot lower will only be known once the lender pulls the TU score.

I don't know what their report says as they just pulled it today. I saw the alert come in for a hard pull from Credco.

Should I  be concerned about not qualifying based on credit scores or wil they use the FICO scores (if they use the FICO as scored here on myfico I will be fine) Just remember that FICO scores are not usually the only thing looked at in making decisions on granting any kind of credit.

My scores here on MyFico are 660 and 646, but are much lower when I view through the "Equifax 3-Bureau Credit Report and Scores" webpage on the equifax site. These scores from the Equifax 3 in 1 service are:

Useless

Worthless

Meaningless

Are to be ignored. 

Sorry, this is all pretty confusing to me and I really really really appreciatte everyones thoughts!

Thank you again.

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[RobertEG]

Even if you restrict yourself ONLY to true FICO(R) scores, there is still no such thing as A FICO score.

Fair Isaac market dozens of flavors of its scoring algorithms.  Eah CRA contracts with Fair Isaac for its own flavor, and emphasize factors a little differently.

Specific credit markets, such as auto lendors and mortgage lendors, have specific industry-based FICO algorithms produced by Fair Isaac to emphasize different risk factors that they consider appropriate for their type of lending decisions.  Consumers can only get their plain vanilla scores based on the consumer models, and are then often surpprised when their lendor gives them a "true FICO score" that differs from the consumer-based score they received through sites such as myFICO.

[Anonymous]

Thank you for the clarifications!

I just paid off 1/2 of all of my credit card debt although my scores probably wont update until mid-month after they have all reported to the CR's.

Income is stable, income / debt is ideal.

I do have a judgement listed, but  I have a copy of the affidavit filed at the courthouse from the plaintiff's attorney that states the judgement was erroneous as I had already paid the debt prior to court date but the attorney forgot to inform the court. Since I didn't show up, default judgement was ordered against me.

My state has no process for vacating a small claims judgement. This judgement is also hurting my scores, but not much I can do as I've already contested it with the CR's, provided copies of the affidavits and also provided the telephone number to the district court clerks office whom can veriy the judgement was erroneous.

Somehow they all come back as "verified". I wish I could get those off my report, but really have no idea what else I can do to get them removed.

Thanks for all the help. I won't hear back from the lender until Monday, but I am a bit less anxious now.