Which credit score is more accurate? FICO or...

For just about anything you want to get off your chest about credit cards.
7 posts
neptunejcw
Platinum Member
Platinum Member
 
Posts: 61
Joined: Wed Nov 21, 2012 2:42 pm
Location: Indiana

Which credit score is more accurate? FICO or...

Postby neptunejcw » Tue Feb 19, 2013 7:35 pm

Today I received my Fifth Third Bank credit card in the mail. YAYYYYY

Along with that came another envelope from Transunion that had my Transunion credit score on it. It had me for 659. But my FICO Transunion has me at 639. Which is more accurate?

I'm thinking the one from Transunion cause its directly from the credit company, but just wanna make sure.


darkguy2
Centurion Member
Centurion Member
 
Posts: 535
Joined: Thu Jan 24, 2013 12:24 am
Location: United States

Postby darkguy2 » Tue Feb 19, 2013 8:12 pm

Yes the one from the credit issuer is more accurate. That is your actual score unlike the estimate that MYFICO gives you.
Discover IT for Students - $3,200
Chase Freedom - $5,700
Costco TrueEarnings Amex - $6,500
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Citi Double Cash - $3,300

FICOs: Discover (735), SallieMae (735), EX (752)
FAKOs: CK- TU (762), EQ (750)

Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 19, 2013 8:28 pm

It's not a point of which is more accurate. It's which is more trusted.

5/3rd didn't ask for the Fico score for nothing...it costs them extra to get it. But it is considered the gold standard for credit scoring even though all the credit agencies have done their own similar scoring systems to compete.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)


MemberSince99
Centurion Member
Centurion Member
 
Posts: 4776
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Feb 19, 2013 9:15 pm

MyFICO is not an estimate it's your FICO score. They may use a different TU model than 5/3 uses, but that is an actual FICO score and no "estimate".

darkguy2
Centurion Member
Centurion Member
 
Posts: 535
Joined: Thu Jan 24, 2013 12:24 am
Location: United States

Postby darkguy2 » Tue Feb 19, 2013 9:48 pm

MemberSince99 wrote:MyFICO is not an estimate it's your FICO score. They may use a different TU model than 5/3 uses, but that is an actual FICO score and no "estimate".


Sorry I phrased that wrong. I meant to say that a pull from a credit report is the score you had when they approved you. I was thinking for some reason he was talking about a FAKO. My mistake.
Discover IT for Students - $3,200
Chase Freedom - $5,700
Costco TrueEarnings Amex - $6,500
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Citi Double Cash - $3,300

FICOs: Discover (735), SallieMae (735), EX (752)
FAKOs: CK- TU (762), EQ (750)

neptunejcw
Platinum Member
Platinum Member
 
Posts: 61
Joined: Wed Nov 21, 2012 2:42 pm
Location: Indiana

Postby neptunejcw » Tue Feb 19, 2013 11:01 pm

Thanks for the responses. I remember I had applied for a credit card back in September & they had me at a 544. Im at a 659 now & I'm sure once this card starts reporting it a go up even higher. I must be doing something right :) hopefully I get to a 700 by June. Trying to get a new car...

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4776
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Wed Feb 20, 2013 9:45 pm

darkguy2 wrote:Sorry I phrased that wrong. I meant to say that a pull from a credit report is the score you had when they approved you. I was thinking for some reason he was talking about a FAKO. My mistake.


And in reading my response, I could have been a little more PC in how I said it, glad you didn't take it wrong as I didn't mean it to be in any way snide. :)



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: Yahoo [Bot] and 6 guests