"myFico" score and my "FICO" score

[haulingthescoreup]

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Chasen850 wrote:
I have had no responses since my last post. Not sure why there would be a 90 point difference in my "FICO" score and "myFICO" score with all CRA's reporting the same info. Any way I am waiting to see what happens to my score now that since my last post a week or so ago I have paid 1/2 of what I owed to Wescom credit union on both accounts ($6000 and $7000 lines). My next payment will have them just about paid in full. I do not plan to pay the last couple hundred dollars and will start paying about the minimum at that point to keep the lines open and current. Hopefully that brings up my "FICO" score to what "myFICO" score is. As of the last time I pulled reports I was at 34% util. Can anyone help me calculate my new util after these payments? And after paying another $6000-7000 next month? Also what can I expect my score to change? My plan is to have all 3 of my revolving lines paid within $200 by October if sooner.

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I'm just awfully skeptical that your CU is providing a FICO score. I checked around, and so far, the only CU giving an EX score is PSECU in Pennsylvania.

It's entirely possible that the CSR doesn't know any better. Many people use the term "FICO score" for any kind of credit score (sort of the Kleenex vs facial tissue thing.)

At any rate, this would explain why your scores are so very different. Apples and oranges.

[Junejer]

+1

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haulingthescoreup wrote:

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Chasen850 wrote:
I have had no responses since my last post. Not sure why there would be a 90 point difference in my "FICO" score and "myFICO" score with all CRA's reporting the same info. Any way I am waiting to see what happens to my score now that since my last post a week or so ago I have paid 1/2 of what I owed to Wescom credit union on both accounts ($6000 and $7000 lines). My next payment will have them just about paid in full. I do not plan to pay the last couple hundred dollars and will start paying about the minimum at that point to keep the lines open and current. Hopefully that brings up my "FICO" score to what "myFICO" score is. As of the last time I pulled reports I was at 34% util. Can anyone help me calculate my new util after these payments? And after paying another $6000-7000 next month? Also what can I expect my score to change? My plan is to have all 3 of my revolving lines paid within $200 by October if sooner.

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I'm just awfully skeptical that your CU is providing a FICO score. I checked around, and so far, the only CU giving an EX score is PSECU in Pennsylvania.

It's entirely possible that the CSR doesn't know any better. Many people use the term "FICO score" for any kind of credit score (sort of the Kleenex vs facial tissue thing.)

At any rate, this would explain why your scores are so very different. Apples and oranges.

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[Anonymous]

Well that is part of my frustration. I can't find a score that low anywhere. it is 90 points under the score I recieved from this site. They stated in writing that it was from EX and I talked at length to several csr's fom the Cu that verified that it was an EX FICO score. At any rate my score should be up with that being paid and after the next payment it should be even better. How long after the payment clears should I wait to pull scores again?

I hope the new legislation, Obama proposes, changes the way they do business. At will policy rate and fee changes are out of control. They could take a responcible person from doing ok and paying bills to bankruptcy in a short time with their CL cuts and rate/fee increases which bring scores down and will snowball. As more people get caught up in these snowballs we could see the floor drop out of the economy once again. I consider myself lucky to have work and be able to pay these sharks in order to keep my score up. I especially hope they have to be transparent with the scores they are using to base their decisions on.

[JJF]

Just a question/thought  I seem to recall my old WAMU/Providian card providing TU scores and I recall seeing monthly WAMU/Providian inquires to my credit report.  Have you checked your EX report to see who is pulling soft inquiries?

[Anonymous]

I used WAMu/Providian to track my scores up until they went to Chase and discontinued that. I did look at who else was pulling soft scores and there were some of my current lenders and others looking to send offers. What difference does it make?

[JJF]

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@Anonymous wrote:

What difference does it make?

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When I checked my TU CR, I could see the WAMU soft inquiries.  I gave me an added degree of confidence that the score was actually based on my TU credit report.

If the bank/credit union is claiming a real EX score, then I would at the least expect to be able to see their inquires on your credit report.  Unfortunately,  EX report does not seem to distinguish between hard, promotional and review inquires.

 

[Junejer]

JJF, if you're seeing your soft INQs, then I would say that you are looking at a FAKO score. You don't see your softs on myFICO reports.

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JJF wrote:

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@Anonymous wrote:

What difference does it make?

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When I checked my TU CR, I could see the WAMU soft inquiries.  I gave me an added degree of confidence that the score was actually based on my TU credit report.

If the bank/credit union is claiming a real EX score, then I would at the least expect to be able to see their inquires on your credit report.  Unfortunately,  EX report does not seem to distinguish between hard, promotional and review inquires.

 

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[haulingthescoreup]

You can tell the difference between softs and hards on my full EX reports. Only full reports show softs, not myFICO (as ByrdMan sad), or TrueCredit, or CreditSecure, etc etc.

The hards show at the beginning under the heading "Inquiries Shared With Others." The softs follow under the heading "Inquiries Shared Only With You." It's true that you will have to sort through the softs to determine the promos from the account reviews, but it's not that hard to sort out. A lot of times it's in the actual name.

Here's one of my favorites: "AMEX ACCOUNT REVIEW."

[Anonymous]

Ex finally is showing my recent payments and myFAKO (plus) score went up 32 points to 765. I pulled myFICO EQ score and one of the payments has not reported there so I only got a couple points so far. Util has gone from 33% to 27%. I wish I knew when they both report payments so I didnt waste money on the same old report on a different day!

[haulingthescoreup]

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Chasen850 wrote:

...I wish I knew when they both report payments so I didnt waste money on the same old report on a different day!

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That's pretty much the advantage of credit monitoring services that still let you pull daily. The scores are FAKO's, but they're great if you're pacing up and down, waiting for everything to post.

Unfortunately, we're running out of daily pull services quickly. I have CreditSecure (EX product through AmEx), but I've discovered through comparing reports that they don't truly update every day. My guess is that they do a weekly batch pull or something. TrueCredit was great at genuine daily pulls. Probably why they stopped --too expensive for them.

Since TU is almost always the last of the three CRA's to update on my reports, I kept TC for a while for the daily TU updates, on the theory that if TU finally had it, the others did too. I guess that's one option, lame as it is.