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True Credit vs Fico


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Does True Credit usually run pretty close to FICO? if not higher or lower for you and by how much?

Pam

My truecredit fako and my fico are WAY different. Truecredit is like 60 points lower for some reason. I dunno. I use creditexpert as well which has always stayed fairly close to my FICO. Right now it is currently only one point under my true FICO. I dont even bother looking at my Truecredit scores cause they are so off its unbelievable.

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Pam

FICO Stands for Fair Isaac COmpany which was the first (and only for quite awhile) mathematical scoring model that generated the first (and arguably most reliable) system of analyzing consumer information and converting it into a somewhat (again arguably) understandable :confused: point system that ranks consumer in regards to how risky they are to lend money to.

These scoring models are developed via proprietary (or better term Top-Secret) scorecards. (A whole education in itself if you want to become really confused:confused::confused: :confused: ).

Anyway FICO sells these mathematical calculation equations to National Credit Reporting Agencies (CRA's) for profit (of Course).

The main 3 (Or Big Three as they are commonly reffered to) CRA's are Experian, Equifax, & Transunion. True Credit is a branding name for Transunions' marketing efforts ("Ya know it just sounds better" I guess?:roll: ). Anyway the marketing is due to the fact that these "Big Three" CRA's compete very heavily for almost complete control of the industry.

I saw your post in another forum and hopefully this will help also: The only credit scores that lenders will use (currently and for decades prior) have been and should continue to be the "Big Three". The middle credit score of these three (Not the average) is the actual score that the lender will use to determine the terms of your loan. They will not give even a 1 point exception so every point counts.

There that is about it. Hope this helps xangelx

Gonetodocs

Senior Loan Officer of Southern California

Just here to learn and help my clients get better rates by increasing their education and credit scores.

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My truecredit fako and my fico are WAY different. Truecredit is like 60 points lower for some reason. I dunno. I use creditexpert as well which has always stayed fairly close to my FICO. Right now it is currently only one point under my true FICO. I dont even bother looking at my Truecredit scores cause they are so off its unbelievable.

Just wanted to check on your wording here. Your TC scores are LOWER than your FICO? Mine seem to be the opposite. My FICO is 40-50 points lower than my TC scores.

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I have subscribed to MyCreditKeeper for several months. Then I found out about TrueCredit's daily pulls and "bumpage," so I subscribed to that, but kept the MyCreditKeeper for the long-term trend watching.

A couple months ago, I pulled my FICO scores, and 2 of 3 were higher than both MyCreditKeeper AND TrueCredit. In fact, my FICO scores were almost 100 points higher than TrueCredit for EQ and EX. TU was 20 points lower on FICO than on TC, and I have no idea why it varied so much compared to the other two. Hopefully it will catch up to the other soon!

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