TU FICO

[Anonymous]

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@llecs wrote:

I posted this publicly before, and hopefully someone from FICO will read this...I would gradly pay extra $$$$ on a regular, on-going basis to have the ability to access other versions of FICO scores like Beacon 9.0, TU04, bankcard-enhanced FICOs, mortgage-enhanced FICOs, and auto-enhanced FICO scores. I know it might be confusing for some who think there is only one FICO out there, but if spelled out and clearly explained, people would respond in kind by purchasing more scores.

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I agree completly and would also be willing to pay for more scores.

[Anonymous]

I am purchasing a 2005 Suzuki GSX-R 600 with 4460 miles on her tomorrow, and I have been thinking for about a week and a half how I wanted to go about the purchase, I contemplated financing about 80% of it thru my CU (Motorcycle Loan) @ 7.75% for three years, or I could have just taken a personal loan @ 10.75% (obviously not the best financial way).

Then I had an epiphany, I've had my Auto loan with my CU for 1 year 10 months, my starting loan amount was 21K @ 4.75% and as of yesterday I was down to 13,560, so I decided that the best and the cheapest way to get the cash for the Motorcycle was to refinance my car, The retail value of my car as of yesterday was 19,400, so I went into my CU yesterday and did the refinance, I added 2 more years to my car note, but walked out of the bank with the 5540, I did refinance 100% of the retail.

I put a 300 deposit on the bike yesterday first thing in the morning, I then called my insurance agent and gave him the VIN # year, make, model, miles etc....of the bike and had him give me a quote for full insurance (230) for 6 months, I went by a picked up my proof of insurance, I then headed over to the drivers license place and took my knowledge test for my motorcycle "learners permit" and passed. I got a 20 day temp learners permit paper license (the actual hard copy will be sent in 7-10 days to my house) and the permit is good for 12 months, I can ride day or night, I just can not carry a passenger until I take the driving test and get my full Motorcycle endorsement.

So I was able to get everything taken care of yesterday in order to pick the bike up Saturday and be 100% legal, and by refinancing my car, I got the lowest interest rate @ 4.75 and it even lowered my payments by about 25 a month.

The whole moral of this story is that my CU uses Beacon 9, so I did find out my Beacon 9 FICO yesterday, it was 804, just two points higher than my Beacon 5.

I can't wait to pick up my Motorcycle tomorrow, I have wanted one for as long as I can remember, I have never owned one, but I used to ride a Suzuki 750 GSX-R for about 5 years, it was my neighbors, he owned two bikes and we used to ride every day after work, so riding is not new to me and I'm super stoked about finally owning my own bike.

[Anonymous]

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@Anonymous wrote:

The whole moral of this story is that my CU uses Beacon 9, so I did find out my Beacon 9 FICO yesterday, it was 804, just two points higher than my Beacon 5.

I can't wait to pick up my Motorcycle tomorrow, I have wanted one for as long as I can remember, I have never owned one, but I used to ride a Suzuki 750 GSX-R for about 5 years, it was my neighbors, he owned two bikes and we used to ride every day after work, so riding is not new to me and I'm super stoked about finally owning my own bike.

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Thanks for sharing! That's cool that you were able to get Beacon 9, I haven't seen much mention of that being pulled, on the boards. Even though it was only 2 points... that's TWO points! LOL. That two points could (for some people) be the difference in a lower rate, denial, etc .  Do you use a local CU or one of the more nationally known ones?

Secondly, CONGRATS on the refinance AND the bike! Make sure you take care and treat her like a lady should be treated... , I have also been wanting a bike for a really long time.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

The whole moral of this story is that my CU uses Beacon 9, so I did find out my Beacon 9 FICO yesterday, it was 804, just two points higher than my Beacon 5.

I can't wait to pick up my Motorcycle tomorrow, I have wanted one for as long as I can remember, I have never owned one, but I used to ride a Suzuki 750 GSX-R for about 5 years, it was my neighbors, he owned two bikes and we used to ride every day after work, so riding is not new to me and I'm super stoked about finally owning my own bike.

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Thanks for sharing! That's cool that you were able to get Beacon 9, I haven't seen much mention of that being pulled, on the boards. Even though it was only 2 points... that's TWO points! LOL. That two points could (for some people) be the difference in a lower rate, denial, etc .  Do you use a local CU or one of the more nationally known ones?

Secondly, CONGRATS on the refinance AND the bike! Make sure you take care and treat her like a lady should be treated... , I have also been wanting a bike for a really long time.

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I use a local CU, it's just my State Employee CU, so it's a small CU, not one of the bigger ones.

I got a SW alert last night that an inq has been placed on my EQ file, and I was worried that the inq may drop me a few points, but in the alert it said my EQ FICO was 802 and has not changed, YAY!!

Thank you for the congrats, and yes I do plan on taking care of her very well, I hope that you can one day soon get a bike too.

Thanks again.

[Anonymous]

I know I will never understand. The really smart people call it Critical Thinking whenever they do something that makes no sense. 

If the scores you offer to the Mortgage, Auto & Credit Card industries are different from what you offer to the actual consumer...that's retarded. IJS & SMH.