Citi free Equifax FICO available

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PlyrStar93
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Citi free Equifax FICO available

Postby PlyrStar93 » Sun Jan 18, 2015 8:36 pm

It has been said Citi would start providing free Equifax FICO score this year, and I have learned that Citi should begin offering this from 1/18/2015. My Citi Forward account is eligible for this. By checking MF I figured out I have to access the score by going to:

CC account details -> card benefits -> Credit & Account Protection - Free FICO® Credit Score -> learn more

Then I could see my Equifax FICO. (250 to 900?)
Image

Pretty good addition, just not as straightforward to get to the FICO score page as Discover. It was really hidden deep for me. To be honest, I have almost never accessed the card benefit page before, and this should be why I was not able to find my score first place.

Also, I am not sure why the score date is as of 12/23/2014. My statements do not close around that day of month, but it looks like Citi performs account review at mid-cycle.

Anyways, now with Citi's EQ score and Discover's TU score, I have free access to both bureau's reports + FICO with the addition of Credit Karma.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
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Battery111
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Postby Battery111 » Mon Jan 19, 2015 2:19 pm

Appreciate the heads up. Looks like I have this for my AAdvantage card as well.
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websteth
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Postby websteth » Mon Jan 19, 2015 5:43 pm

So I went and looked at my one from Citi and it says 841, Discover and Barclays say 801. Which one is right?
American Express: Platinum, Zync, Platinum Delta SkyMiles, Blue, Starwood Preferred Guest
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Battery111
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Postby Battery111 » Mon Jan 19, 2015 6:05 pm

websteth wrote:So I went and looked at my one from Citi and it says 841, Discover and Barclays say 801. Which one is right?


Citi is pulling EQ, whereas the others are pulling TU, so they can both be right since they're based on different reports. Also, the scoring model used can account for variation even if the data is identical between the two different reports.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

flan
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Postby flan » Mon Jan 19, 2015 6:20 pm

websteth wrote:So I went and looked at my one from Citi and it says 841, Discover and Barclays say 801. Which one is right?


All of them. As noted, it's different data sources, and probably different times. Citi is also giving something other than the normal fico score, a card enhance score I believe, which has a different range. so it's not surprising it would be different.

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PlyrStar93
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Postby PlyrStar93 » Mon Jan 19, 2015 8:16 pm

Battery111 wrote:Appreciate the heads up. Looks like I have this for my AAdvantage card as well.

Thanks for confirming the AA cards having FICO. Rumors said it would be available only in non-cobranded cards, and apparently this is not true now.

I have even heard some Prestige user saying he didn't have the score. Anyone could confirm this?

websteth wrote:So I went and looked at my one from Citi and it says 841, Discover and Barclays say 801. Which one is right?

For just two scores, there is no definite who's right/wrong or accurate/inaccurate. As above said, scores are calculated on the bureau data used as well as scoring model used, and that are mostly the reasons of discrepancies. If something is "wrong", then it should be the report which was used to calculate score contains incorrect/inaccurate data.

flan wrote:All of them. As noted, it's different data sources, and probably different times. Citi is also giving something other than the normal fico score, a card enhance score I believe, which has a different range. so it's not surprising it would be different.

A FICO score FAQ brochure that's provided by Citi says:
The classic FICO® Score which is in use today by the vast majority of lenders fall within the 300-850 score range... Industry-specific FICO® Scores, such as those for auto lending or credit card lending, were developed to accommodate the unique characteristics of their respective industry and range from 250-900.

I'm not really familiar with each model, and tend to mess them up pretty quickly.
At least Discover provides a 300-850 range, which looks "classic", while Citi gives a 250-900 "industry specific" score, according to the brochure. However, Discover seems to use the "classic" one in credit card underwriting.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

flan
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Postby flan » Mon Jan 19, 2015 8:21 pm

PlyrStar93 wrote:I'm not really familiar with each model, and tend to mess them up pretty quickly.
At least Discover provides a 300-850 range, which looks "classic", while Citi gives a 250-900 "industry specific" score, according to the brochure. However, Discover seems to use the "classic" one in credit card underwriting.


Well, discover give people their fico 08 score when they send denial letters, certainly. But they're required to provide a single score, but are allowed to use whatever scores they care to for underwriting. So there's no way to know whether they put more weight on the regular one, or the card specific one, or some other score. (And they do lots of lending to people who don't have enough regular credit history to have fico scores, so they're clearly using other things.)

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PlyrStar93
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Postby PlyrStar93 » Mon Jan 19, 2015 8:41 pm

flan wrote:Well, discover give people their fico 08 score when they send denial letters, certainly. But they're required to provide a single score, but are allowed to use whatever scores they care to for underwriting. So there's no way to know whether they put more weight on the regular one, or the card specific one, or some other score. (And they do lots of lending to people who don't have enough regular credit history to have fico scores, so they're clearly using other things.)

I believe Discover uses things other than whatever FICO score/model when I applied. And I'm also sure they can use information other than the three national bureaus and completed application form. They, as well as several other lenders, do pull ARS/IDA (which are two secondary credit reporting agencies) reports when you apply for their cards. At least I can tell my IDA report has a hard inquiry made by Discover. Sometimes we blame Discover for being conservative or whatever, these reports might contribute to how they give low limits, and I could only imagine if Discover wished to give me higher limit if I froze ARS/IDA prior to apping.

They just don't disclose what information other than a national credit report is used, and what other scores they may use.

For people with thin file, AFAIK, Discover provides an L2C score. That is also another credit bureau, mostly used when people don't have credit files with EQ/TU/EX.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

dj_advantage
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Postby dj_advantage » Fri Jan 23, 2015 10:48 am

wow! never knew about this benefit - glad i have it with my AAvantage card. Good to see an actual report instead of the Credit Karma one.



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