Kreepin Posted November 1, 2008 Report Share Posted November 1, 2008 I get a free "FICO" score through my Washington Mutual credit card every month, but it's light years away from what my score was just weeks ago when I ordered an actual FICO. How accurate is this WAMU FICO? Link to comment Share on other sites More sharing options...
willingtocope Posted November 1, 2008 Report Share Posted November 1, 2008 I'm not a WaMu customer, so I don't have complete access to the "Terms and Conditions" under which they make this offer. From what I gather from the chatter on the internet, they do indeed give you a "FICO Bankcard score", but, its probably based on just your TransUnion report, and it probably isn't updated frequently. Therefore it could be months behind what you got from FICO directly. Link to comment Share on other sites More sharing options...
jq26 Posted November 1, 2008 Report Share Posted November 1, 2008 I receive a monthly TransUnion FICO through WaMu. When I received my tri-merge credit report from a mortgage broker in April 2007, my WaMu TU score was within one point of the TU FICO on the tri-merge report score. I think the score is accurate, but one data point could just be coincidental. Link to comment Share on other sites More sharing options...
scorch Posted November 1, 2008 Report Share Posted November 1, 2008 It is not the exact same as the FICO score you could get from myFICO, although they like saying that it's a real FICO. The only thing that is similar about the score is the name. Link to comment Share on other sites More sharing options...
Kreepin Posted November 1, 2008 Author Report Share Posted November 1, 2008 I receive a monthly TransUnion FICO through WaMu. When I received my tri-merge credit report from a mortgage broker in April 2007, my WaMu TU score was within one point of the TU FICO on the tri-merge report score. I think the score is accurate, but one data point could just be coincidental.Interesting, as I was at 671 with myFico, while WaMu issued a 605. What gives? Link to comment Share on other sites More sharing options...
willingtocope Posted November 1, 2008 Report Share Posted November 1, 2008 It is not the exact same as the FICO score you could get from myFICO, although they like saying that it's a real FICO. The only thing that is similar about the score is the name.Not exactly true. They couldn't call it FICO, if it wasn't. FICO is trademarked. However, its possilbe that its not a current FICO...in other words, they got it from FICO at a major discount because it was actually calculated 3-6 months ago...and therefore, is of no real value today.That's why I keep harping that your really, really need to read all the terms and conditions that go along with getting your credit reports and credit scores on line. There are so many loopholes and half truths and "oh yeah, we forgot to mention", and "this site is not intended to conform to the FCRA" CRAPOLA words sprinkled around those things that most of them are worthless. Link to comment Share on other sites More sharing options...
jq26 Posted November 1, 2008 Report Share Posted November 1, 2008 Not exactly true. They couldn't call it FICO, if it wasn't. FICO is trademarked. However, its possilbe that its not a current FICO...in other words, they got it from FICO at a major discount because it was actually calculated 3-6 months ago...and therefore, is of no real value today.I think it is timely. The WaMu FICO provided also has a "unsecured debt" total below the score that I know matches my balances on the first of every month (the WaMu score updates 2-3 weeks after the 1st). So it isn't more than 2-3 weeks old. Link to comment Share on other sites More sharing options...
isislc Posted November 2, 2008 Report Share Posted November 2, 2008 It is a true Fico score, it has matched my score each and every time. Link to comment Share on other sites More sharing options...
puck Posted November 3, 2008 Report Share Posted November 3, 2008 I also have Wamu. Since the score comes from Transunion we are getting the Transunion fako score. And we all know that they are not accurate with the true fico. The only true fico score is equifax.Puck Link to comment Share on other sites More sharing options...
cap1kid Posted November 3, 2008 Report Share Posted November 3, 2008 The only true fico score is equifax.PuckThe only true FICO score is from FICO! Link to comment Share on other sites More sharing options...
jq26 Posted November 3, 2008 Report Share Posted November 3, 2008 It is a FICO score. The FICO trademark is on the score. Its a legit TU FICO score. WaMu would be sued in a nanosecond if it were not. Fakos are a totally different animal. I get a FAKO based on TU every month from Juniper and the score isn't even based on the same scale. I think the question comes down to what version of the FICO algorithm did WaMu purchase. Could be a mortgage score, bankcard score (most likely), or another version. Link to comment Share on other sites More sharing options...
fishwater Posted November 3, 2008 Report Share Posted November 3, 2008 Not exactly true. They couldn't call it FICO, if it wasn't. FICO is trademarked. However, its possilbe that its not a current FICO...in other words, they got it from FICO at a major discount because it was actually calculated 3-6 months ago...and therefore, is of no real value today.That's why I keep harping that your really, really need to read all the terms and conditions that go along with getting your credit reports and credit scores on line. There are so many loopholes and half truths and "oh yeah, we forgot to mention", and "this site is not intended to conform to the FCRA" CRAPOLA words sprinkled around those things that most of them are worthless.Yes, like EQ wanting you to agree to no legal action to get the report you can see online for 30 days....... Link to comment Share on other sites More sharing options...
NewLife4Me Posted December 7, 2008 Report Share Posted December 7, 2008 :mrgreen: Link to comment Share on other sites More sharing options...
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