FICO on Discover vs FICO on Capital One

All about Discover & Diners Club - talk about their credit card deals such as the More, Miles, Escape, and others.
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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Oct 02, 2014 12:26 pm

Heisenberg118 wrote:So the Barclays and Discover FICOs are real? I always knew the CapOne score was bogus. I also started receiving a "next gen" FICO from my PenFed. I can only assume it's legit also.


Yes, Barclays and Discover have real FICOs. Barclays updates the score when it changes (or at least within a few days of the change), and Discover updates it on the same day each month.
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flan
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Postby flan » Thu Oct 02, 2014 9:36 pm

Heisenberg118 wrote:So the Barclays and Discover FICOs are real? I always knew the CapOne score was bogus. I also started receiving a "next gen" FICO from my PenFed. I can only assume it's legit also.


They're the FICO 08 score, which is not yet widely used. scores are a bit higher, it discounts some classes of collections, and some paid collections.

And, as I always say, except for mortgage lending, many other things are as important as credit score.

takeshi
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Postby takeshi » Fri Oct 03, 2014 10:16 am

Heisenberg118 wrote:So the Barclays and Discover FICOs are real? I always knew the CapOne score was bogus. I also started receiving a "next gen" FICO from my PenFed. I can only assume it's legit also.

If it's a FICO it's a FICO. FAKO's are not FICO's. "Real" isn't relevant. There are some creditors that use VantageScore even though most rely on a FICO.

It doesn't matter how "real" a score is if the creditor you're applying to doesn't use that model.

Heisenberg118
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Postby Heisenberg118 » Fri Oct 03, 2014 10:37 am

takeshi wrote:If it's a FICO it's a FICO. FAKO's are not FICO's. "Real" isn't relevant. There are some creditors that use VantageScore even though most rely on a FICO.

It doesn't matter how "real" a score is if the creditor you're applying to doesn't use that model.


I get all that. I'm only asking because I like to get an idea of how my credit is doing. I know that when I app for something, the score the lender sees will most likely be different, but at least I can get an idea of the ballpark. The Barclay/Discover FICOs are waaay off from the CapOne FAKO.

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Yoshiofthewire
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Postby Yoshiofthewire » Fri Oct 03, 2014 7:33 pm

I get both the Barclay and the Discover FICO.
For me this month they were 3 days and 8 pts apart.
Discover was earlier and higher.
[size=60]
American Express PRG - NPSL ('10) - NONE - Replace with BCE in 2015
US Airways barclaycard - $20,000 ('14) - Catch All - PC to Arrival in 2016
BankAmericard | Cash Rewards - $8,200 ('99) - Gas, Groceries
Discover It - $8,700 ('14) - 5% categories, ShopDiscover
[/size]

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lobbythis
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Postby lobbythis » Fri Oct 03, 2014 9:28 pm

My score from Barclays was identical to FICO. Pretty awesome.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Oct 03, 2014 9:58 pm

I don't know how quickly Barclays updates the score. I know it can be multiple times per month, but I haven't gotten an update since my BCE started reporting. Maybe somehow the harm from the new account offset the help from the additional little bit of account age. Maybe one more card (or one fewer) reported a small balance.

I've been in the garden about a month and a half now, and I still don't have a true garden-entering FICO for future comparison.

Does anyone know if an account's 'high credit' can somehow affect a FICO score once the intra-month balance is paid off?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

popamode72
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Postby popamode72 » Fri Oct 03, 2014 10:20 pm

I just got an update on my FICO today from Barclays and somehow my score went up 11 points. I really hope they update more frequently than Discover or Wal-Mart do. That would be quite great.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

flan
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Postby flan » Sat Oct 04, 2014 12:38 pm

CarefulBuilder14 wrote:I don't know how quickly Barclays updates the score. I know it can be multiple times per month, but I haven't gotten an update since my BCE started reporting. Maybe somehow the harm from the new account offset the help from the additional little bit of account age. Maybe one more card (or one fewer) reported a small balance.

I've been in the garden about a month and a half now, and I still don't have a true garden-entering FICO for future comparison.

Does anyone know if an account's 'high credit' can somehow affect a FICO score once the intra-month balance is paid off?


FICO only cares about the currently reported balance. So the intra-month numbers, from lenders who report them, don't matter. It's possible that the currently reported intra-month number is what will be used, but it's not supposed to be. Lenders who get the whole data set as part of their account review or approval process can make whatever use of those data that they care to. They're not widely reported (yet, it's going to be universalish eventually), so they may not do much with them yet. I'm sure they're collecting the data to use for regression analysis of current algorithms.



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