gonefishin_bebackltr Posted March 3, 2005 Report Posted March 3, 2005 My credit union pulled my score for a consolidation loan today. The score they got was 44 points lower than what I get from myfico. Both should be pulling directly from Equifax, right? I'm confused.
Thomas1096 Posted March 3, 2005 Report Posted March 3, 2005 WOW!!!..I'm not sure.... But that does not sound right. MAYBE they pulled a different CRA than the one you thought they would pull.????
jq26 Posted March 3, 2005 Report Posted March 3, 2005 As if we all need another set of credit scores, but there's a thread somewhere on this site that explains that FICO sells different versions of software to their clients, one being the credit union version. It weights things differently. I would bet myFICO.com gives you a generic FICO score. So maybe the credit union FICO algorithm weighs something less favorably in your report than does myFICO algorithm. Just another possibility to consider why your scores varies.
Methuss Posted March 3, 2005 Report Posted March 3, 2005 Credit Union probably pulled from a "reseller" using a different model than Fair Isaac (FICO). There are more than one score model out there.
gonefishin_bebackltr Posted March 3, 2005 Author Report Posted March 3, 2005 Thanks JQ. That does stink. The only thing that makes me wonder about that is I have dropped my utilization from almost 200% to under 50% (reporting but paid off now), one charge off deleted and one charge off changed to 180 days late. My score would have only gone up 6 points with all of that. Doesn't seem to add up.
crofttk Posted March 3, 2005 Report Posted March 3, 2005 ...There are more than one score model out there.Fer sure, and Fair Isaac themselves sell more kinds of scores than you have fingers and toes aside from the single "Classic" FICO that you can buy for each of the 3 main CRAs' files on you.
Sultan Posted March 4, 2005 Report Posted March 4, 2005 Why should they both be from Equifax? the lender could be using Experian or Trans, which may have be different from your Equifax score.Or they could have combined your scores and averaged it, best thing to do is ask the lender what reporting company(s) they go through. And what scoring model they use would be a good question I might ask.G/L and keep your chin up I know its discouraging, I bet some day the same will happen to some of us, if not most of us at some point.
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