Confused about two different TU Scores.

[buffetbuster]

I was recently approved for a Best Buy Credit Card and Capital One Credit Card. I decided to try for a Barclay's Card today and was denied. They stated my credit score was 100 pts less than what I saw as my credit score on Transunion.com. I purchased all 3 scores from the 3 bureaus and all were upper 600's. How are they different scores?

[IBroke]

I was recently approved for a Best Buy Credit Card and Capital One Credit Card. I decided to try for a Barclay's Card today and was denied. They stated my credit score was 100 pts less than what I saw as my credit score on Transunion.com. I purchased all 3 scores from the 3 bureaus and all were upper 600's. How are they different scores?

Believe it or not - the credit score transunion.com is selling is nothing more than a FAKO score (in other words, no lender is using it). If you go to myfico.com and purchase your TU score over there, I'm pretty sure it's going to be different than the one you got from transunion.com.

So in this case, going to the "source" doesn't do you any good. Strange, huh?

[buffetbuster]

Wow! I would've thought going to the source would be the most accurate. Hmm... I guess I should go and see what my FICO is then. Is your FICO basically what lenders and credit issuers look at?

[IBroke]

Wow! I would've thought going to the source would be the most accurate. Hmm... I guess I should go and see what my FICO is then. Is your FICO basically what lenders and credit issuers look at?

Well, it's as close as it gets without actually getting your score through a creditor/lender. I think one of the models myfico is using is a bit outdated and more and more lenders are using a specific model based on the types of accounts you are applying for. These are the so-called "enhanced" credit-scores. Let's say you want an auto-loan: In that case, the score focuses on your prior auto-loans/leases.

So getting the exact same score from myfico and the place you applied for is very unlikely - but myfico is still the closest. When it comes to scores, you can really forget other third party sources - even the bureaus itself.

BTW, the Experian-score in my signature IS a FAKO because myfico isn't selling that anymore. But I'm not paying for that score. It's just a free "add-on" that comes with my report.

[Amy26]

BTW: IBroke, seem to be making lots of posts to you today! hehe... I know a credit union you can join that gives you a free Experian FICO every month if you're interested in knowing which one.

[df04527]

All scoring models start with the basic Fair Issac algorithms - most, if not all, lenders customize that based on what you are applying for. That is why what your score is has no bearing on your ability to get approved for anything. Don't waste your money on any of that nonsense. It's just a nasty way, in my opinion, for these third party suppliers and the bureaus themselves to make a buck because they mean nothing in terms of your getting approved for anything.