is MYFICO is the REAL FICO?

[Anonymous]

I agree. The more information the better. I love FICO scores and live by them everyday. The most important thing is monitoring account, balances, and inquiries. If you can keep up with that then you are doing well in my book

[Anonymous]

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@Anonymous wrote:

I always need to throw out the disclaimer that while FICO score are the REAL scores you must give room for a little change. For instance, different lenders rank things differently.

For example, said individual pulls a 650 FICO score but has 75% UTIL. Lender when given approval pulls a 625 because their score is slighted and decresed by higher UTIL. I know this information first hand as I have been affected by it.

Not all lenders do this, but just be prepared when you walk in so you dont have an attack as I did.

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If this happened to you then the lender was not using a consumer FICO score. He was using a different FICO score or adjusting the consumer FICO score by some other factor or using a different type of score altogether. The FICO scores reported on this site are true consumer FICO scores.

[Anonymous]

I am in no way by any means stating that the FICO scores arent the real scores. I stand by them and have for years, I was just stating that some lenders have their own system in place that is used in conjunction with FICO scores to make decisions. When I spoke to the lender in length I learned that they used the FICO score, but added their own system in addition.

Some lenders even depending on application or type of loan weigh things differently also.

Message Edited by Eurosooner7 on 08-18-2009 02:19 PM

[jasonj24680]

They are not accurate. I got that first hand by speaking with someone at Transunion. myfico has my score dropped from 608 to 583 for no **bleep** reason and Transunion told me my score was above 620 at the time anyhow. Talk about a "FAKO" score. I want my money back. What  a waste.

[haulingthescoreup]

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jasonj24680 wrote:
They are not accurate. I got that first hand by speaking with someone at Transunion. myfico has my score dropped from 608 to 583 for no **bleep** reason and Transunion told me my score was above 620 at the time anyhow. Talk about a "FAKO" score. I want my money back. What  a waste.

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The score that TransUnion told you was their FAKO score. Although you can pull your TU FICO from transunioncs.com (note the -cs at the end), the regular TransUnion site provides their "TransRisk" score, which is not a FICO score.

Back when I had TrueCredit, some of my TransRisk scores were lower than my FICO's and some were higher. No correlation.