PolarBearnCO Posted July 1, 2007 Report Share Posted July 1, 2007 Just got a WaMu account and one of the reasons I wanted it was the free Experian FICO scores. It shows my EX FICO is 672, yet TC shows my EX FAKO to be 622.At this time, I'm not going to pay MyFICO.com to give me an updated EX score, but it has never been anywhere near 672. Can anyone shed light on whether WaMu's free EX FICO is truely a FICO? Even my FAKO isn't 672.Thanks. Link to comment Share on other sites More sharing options...
lhslancers Posted July 2, 2007 Report Share Posted July 2, 2007 Just got a WaMu account and one of the reasons I wanted it was the free Experian FICO scores. It shows my EX FICO is 672, yet TC shows my EX FAKO to be 622.At this time, I'm not going to pay MyFICO.com to give me an updated EX score, but it has never been anywhere near 672. Can anyone shed light on whether WaMu's free EX FICO is truely a FICO? Even my FAKO isn't 672.Thanks.Its your bank enhanced credit card score. Lose the FAKO. The Wamu score is a REAL score. Link to comment Share on other sites More sharing options...
PolarBearnCO Posted July 3, 2007 Author Report Share Posted July 3, 2007 The Wamu score is a REAL score.I still like to argue that nothing is a "real" score. Unless your future lender uses the same model you say is "real" then none of them are any better than any of the others. I detailed my FAKO and WaMu FICO scores above. Today, Countrywide Home Loans says my score is 645 on their computers, good enough for sub-7%. The only number that is "real" is the one the lender got and is going to use.I was really just trying to figure out if the WaMu FICO and MyFICO would be the same. I can't imagine they are and I'm not going to buy the report to find out. Link to comment Share on other sites More sharing options...
chilton1 Posted July 3, 2007 Report Share Posted July 3, 2007 There are several formulas used to determine risk. The mortgage score is different from the score for car loan or credit card etc. You can't compare the faco with the FICO the formulas are different and it still remains most lenders will use one of the FICO models. Link to comment Share on other sites More sharing options...
lhslancers Posted July 3, 2007 Report Share Posted July 3, 2007 I still like to argue that nothing is a "real" score. Unless your future lender uses the same model you say is "real" then none of them are any better than any of the others. I detailed my FAKO and WaMu FICO scores above. Today, Countrywide Home Loans says my score is 645 on their computers, good enough for sub-7%. The only number that is "real" is the one the lender got and is going to use.I was really just trying to figure out if the WaMu FICO and MyFICO would be the same. I can't imagine they are and I'm not going to buy the report to find out.Be happy Wamu is giving you a real honest to goodness FICO score. Most lenders use some kind of FICO score. I got the Wamu card just for the PFICO score. The Wamu score is not a mortgage score or an automotive score but for all those that just love to get more plastic the PFICO is very accurate. I get TU. Can't beat free. Link to comment Share on other sites More sharing options...
Revike Posted July 3, 2007 Report Share Posted July 3, 2007 As lhslancers stated, the free score offered to WaMu customers is a bankcard-enhanced FICO score - usually based on the TU report, but sometimes based on the EX report (depends on geographic location).The scores that can be purchased from MyFico are classic FICO scores and are more closely aligned with scores pulled by mortgage lenders. In many cases, if the mortgage lender pulls scores on the same day the consumer pulls their classic FICO scores, the scores do match.The bankcard-enhanced FICO score from WaMu will most likely be different than the classic FICO score from MyFico, since the credit card aspects are weighted more heavily. For those interested in knowing their score prior to applying for new credit cards (usually in an attempt to predict approval), a bankcard-enhanced score will be the most useful.There are dozens of FICO scoring models (the consumer "classic", plus many industry-specific models) and hundreds of non-FICO models. Even if a specific FICO score is not the exact model reviewed by a lender, it is usually fairly close, and will reflect changes in a similar fashion (for example, if you decrease utilization and your classic FICO score increases, you can expect your auto-enhanced score to increase as well). The non-FICO score models (FAKOs) are weighted differently, and FICO score changes do not always mirror FAKO score changes. Link to comment Share on other sites More sharing options...
lhslancers Posted July 3, 2007 Report Share Posted July 3, 2007 As lhslancers stated, the free score offered to WaMu customers is a bankcard-enhanced FICO score - usually based on the TU report, but sometimes based on the EX report (depends on geographic location).The scores that can be purchased from MyFico are classic FICO scores and are more closely aligned with scores pulled by mortgage lenders. In many cases, if the mortgage lender pulls scores on the same day the consumer pulls their classic FICO scores, the scores do match.The bankcard-enhanced FICO score from WaMu will most likely be different than the classic FICO score from MyFico, since the credit card aspects are weighted more heavily. For those interested in knowing their score prior to applying for new credit cards (usually in an attempt to predict approval), a bankcard-enhanced score will be the most useful.There are dozens of FICO scoring models (the consumer "classic", plus many industry-specific models) and hundreds of non-FICO models. Even if a specific FICO score is not the exact model reviewed by a lender, it is usually fairly close, and will reflect changes in a similar fashion (for example, if you decrease utilization and your classic FICO score increases, you can expect your auto-enhanced score to increase as well). The non-FICO score models (FAKOs) are weighted differently, and FICO score changes do not always mirror FAKO score changes.Rev I've been told you will get whoever they pulled when you were approved for the card. In my case it was a Transunion inquiry. Link to comment Share on other sites More sharing options...
Donna47129 Posted November 17, 2007 Report Share Posted November 17, 2007 Just to add my two cents...Wamu pulls TU for me, and it is NOT accurate.I have seen many people saying they rely on this to be a true fico, it's not.On 9/17 my true fico on TU was 615. In October Wamu showed 579. Wamu just did a soft pull today on me, and they now have my fico at 613, mind you, my true fico from myfico.com in September was 615. It is now 635 on myfico.com, the same day Wamu pulled the 613 (which matches almost my FAKO).The Wamu score is not the same as myfico. Link to comment Share on other sites More sharing options...
par Posted December 2, 2007 Report Share Posted December 2, 2007 Are we saying that the score you see when have a Wamu cc is a result of a soft pull from TU each time-meaning each month--since they only update once per month? Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 2, 2007 Report Share Posted December 2, 2007 I have WAMU also and the score they give is a CREDIT CARD ENHANCED so it's not going to be the same as the consumer model you get. Link to comment Share on other sites More sharing options...
par Posted December 7, 2007 Report Share Posted December 7, 2007 But is it a RESULT OF A ONCE A MONTH SOFT PULL? Link to comment Share on other sites More sharing options...
Sting23ray Posted December 7, 2007 Report Share Posted December 7, 2007 Whats a Credit card enhanced FICO score? Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted December 9, 2007 Report Share Posted December 9, 2007 Whats a Credit card enhanced FICO score?FICO has many different scoring models, 29 I think. There is AUTO enhanced, CREDIT CARD enhanced, MORTGAGE enhanced, etc. Depending on the model your score will be different. Link to comment Share on other sites More sharing options...
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