wow this myfico forum is weird

[Anonymous]

i just pulled a copy of my equifax report and i got a fico score of only 481 ....

i went to citi bank earlier today and they said my EQ fico is 680 and they approve me for personal loan of $3200

what the heck is up with this.....

im confused....

[stan_the_man]

I'm not sure where you personally pulled your credit score, but I wanted to let you know that there are many credit scores out there that are *not* Fico scores. Here on the forums we call them FAKO scores.

Unless you purchased your Equifax score from myFico.com or from Equifax.com -- and it also clearly states that it's a Fico score -- then the score you received was a FAKO score. There are literally dozens of FAKO scores out there, and they can move in opposite directions as your Fico score and offer bad advice as to what is hurting and helping your credit score.

In the off chance that both scores were a Fico score, I would guess that Citi used Fico NextGen Score -- which uses a difference score range than a traditional Fico score (300-850 for traditional Fico scores vs. 150-950 for NextGen Fico scores).

Also, to complicate this further, many banks use customized versions of Fico scores that differ from the generic Beacon 5.0 (Equifax Fico score) we are able to purchase from myfico.com and Equifax.com (where it clearly states the score is a Fico score).

Bottom Line: Check the Equifax score you purchase. If it wasn't from myFico.com or Equifax.com -- and it also clearly stated it was a Fico score if it was from Equifax.com -- then it was a FAKO score.

[Anonymous]

i got it from this website

[92235]

Something doesn't seem right. If you had said it was a TU FICO pulled here I would understand, because the TU FICO on here is worthless. My guess is that whoever at the bank pulled your score didn't know who they were pulling and just said EQ.

[MarineVietVet]

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@92235 wrote:

Something doesn't seem right. If you had said it was a TU FICO pulled here I would understand, because the TU FICO on here is worthless. My guess is that whoever at the bank pulled your score didn't know who they were pulling and just said EQ.

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I'm going to respectfully disagree with you about this. Although the TU98 version offered here is older and does not always coincide with a TU04 pull I have it from a reliable source here at myFICO that in 2010, U.S. lenders and other businesses bought roughly four billion FICO scores calculated from the same models tapped by myFICO.com.

I can't say how many were EQ vs.TU but the number of TU pulls by lenders  I would assume has to be in the millions and so TU98 is still a viable and useful score.

Having said that I am as frustrated as much as anyone else that TU04 is not for sale here.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, 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".

[stan_the_man]

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@Anonymous wrote:

i got it from this website

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Five possibilities:

1) Citi pulled a NextGen Fico score.

2) You recently disputed something bad and it wasn't part of the Fico calculation when when Citi pulled your report

3) A split file -- when someone has lots and lots of trade lines it can result in having more than one credit report

4) Some baddies hit in the gap between the Citi pull and your pull here on myFico (do you have a credit report from before and after)

5) Something got really screwed up at Citi, myFico and/or Equifax.

[llecs]

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@stan_the_man wrote:

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@Anonymous wrote:

i got it from this website

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Five possibilities:

1) Citi pulled a NextGen Fico score.

2) You recently disputed something bad and it wasn't part of the Fico calculation when when Citi pulled your report

3) A split file -- when someone has lots and lots of trade lines it can result in having more than one credit report

4) Some baddies hit in the gap between the Citi pull and your pull here on myFico (do you have a credit report from before and after)

5) Something got really screwed up at Citi, myFico and/or Equifax.

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I was scratching my head on this thread, but I like #1 and #3.

[GregB]

Except......

If his actual EQ FICO is 481 and the bank pulled ANY report from EQ, it seems unlikely the bank would have given him a loan. If he pulled a TU from here with a 481 FICO score and the bank pulled ANY report from TU, he would still have a problem getting a loan.

Seems most likely the FICO score from her is a different CRA than the bank pulled and there is info on one that isn't on the other.

[Anonymous]

i spoke with the banker and he did say they pulled EQ fico score last week... i had a pretty good score! but why is my score only 481 here at myfico.com? somethings wrong with this site...

i looked at my credit report and i never disputed anything.,, its the same... im never gonna trust this site no more

sorry...maybe its just me

[llecs]

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@Anonymous wrote:

i spoke with the banker and he did say they pulled EQ fico score last week... i had a pretty good score! but why is my score only 481 here at myfico.com? somethings wrong with this site...

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Virtually all of our EQ scores have matched. There's no question that the EQ score here matches a large vast majority of lender's when pulled the exact same day. Ask your bank what version of EQ FICO they are using. There are different flavors like a mortgage-enhanced FICO, a bankcard-enhanced FICO, Beacon 5.0, Beacon 9.0, NextGen and so on, as Stan pointed out. The NextGen does score higher than the EQ on here. There are some lenders that use it for non-mortgage products. All of these are EQ FICOs, just different versions.