stancil1 Posted March 17, 2007 Report Share Posted March 17, 2007 I work as a Sales Manager at a Ford dealership in Texas and I have people all the time come in and say " I had no idea my credit scores were so low." I can't tell you how many people say that they've been looking at homes and that they know their scores are higer than what they appear to be....Just for giggles, I pulled mine here at the dealership and they show as follows TU-453, EX-462 and EQ-477... I went immediately to truecredit.com which shows TU-523, EX-508 and EQ-533. So, Here's the million dollar question.., Why are FICOs typically higher when mortgage companies pull your credit than when autodealers pull your credit ? Link to comment Share on other sites More sharing options...
divemedic Posted March 17, 2007 Report Share Posted March 17, 2007 If you pulled your CR through the dealership, you know you took a hard pull, right? Link to comment Share on other sites More sharing options...
5thsfg Posted March 17, 2007 Report Share Posted March 17, 2007 those on TC are not fico scores ..mortgage companies do not use those... go to myfico and pull those and see what those are compared to the ones you pulled at the dealership Link to comment Share on other sites More sharing options...
stancil1 Posted March 18, 2007 Author Report Share Posted March 18, 2007 Thanks Dive, Yea, I knew it was a hard pull but at this point, the enquiries are only a few.... Link to comment Share on other sites More sharing options...
Ahntara Posted March 18, 2007 Report Share Posted March 18, 2007 Because the mortgage industry uses scoring models skewed toward their industry...And because consumers don't have access to these scores. They are sold to lenders only.BEACON 96, EMPIRICA, FICO (Classic), BEACON 5.0 and NextGen are some of the ones I'm familar with. This category of scoring models is primarily weighted toward installment loans and other 'housing' related data. The scoring software used by the auto industry is weighted primarily toward vehicle-based data. Link to comment Share on other sites More sharing options...
stancil1 Posted March 19, 2007 Author Report Share Posted March 19, 2007 Thank you, That was the info I was looking for ! Link to comment Share on other sites More sharing options...
Recommended Posts