Found THIS out today....

[tinroofrusted]

Not one major lender uses these credit scores to make a lending decision. So it is useless to you and simply a way for Experian and TransUnion to increase their revenue. However, Equifax does it right. They only sell their FICO credit score to consumers.

[joe715]

Hi tinroofrusted.

What about the scores from myFico.com? That's where I've been checking my reports and scores.

What do you recommend for checking scores and reports? By the way, just want to say thanks for all your informative posts.

-Joe

[tinroofrusted]

Hi tinroofrusted.

What about the scores from myFico.com? That's where I've been checking my reports and scores.

What do you recommend for checking scores and reports? By the way, just want to say thanks for all your informative posts.

-Joe

I recommend you go to an auto dealer or a mortgage place and apply for a loan quite honestly. Then you know EXACTLY what they are reporting to the creditors.

"myfico.com" scores are called FAKO scores, and can be hundreds of points in difference from the FICO scores that are given to your creditor.

[HRx]

In a nutshell FICO and Beacon scores are simply numerical measurements/values that creditors assign to individuals credit reports. I always tell individuals to not worry so much about their credit scores! if all your credit tradelines reflect R1 or I1 and you continue to maintain a healthy debt repayment history your credit score will be high enough to qualify you for prime loan terms.