myFICO.com score. Is it accurate??

Question

I got my credit scores from myFico.com. My scores are as follows:

TransUnion: 773
Experien: 778

I called one of the business credit companies because I am thinking of obtaining a business loan and the manager told me that MyFico reports inaccurate scores. They are usually 60 points more than the actual score because the credit score companies like TU and Exp pay them a monthly fee. If ordered a credit score from Experien, then my score would report 60 points lower (Ex. Experien Score would be 718 instead of 778). Is that true??

Before I go crazy ordering credit scores from various companies, please let me know if you (or someone you know) have experienced this is different credit score companies. Should I order credit score from other companies??

Any suggestions are greatly appreciated!

Dave M. · Answer

Joshua Dorkin the annual free credit report is just that - it does not include any scores. You have to pay to get the scores.

Shanequa J. · Answer

Myfico.com reports the true FICO score. All the other credit reporting websites like creditreport.com show what's called vantage scores AKA FAKO scores.

Shawn Dandridge · Answer

Lokesh,

My FICO.com is run by the Fair Issac Corporation. They are the maintainers of the "FICO" scoring system within the credit world. The site is a legit company. The score they are giving you are based on their scoring model. FICO is used by 90% of companies that will pull your credit report. When you cann the individual credit agencies, they will tell you myfico.com is wrong because they want you to subscribe to their scoring products which are FAKO scores and will dramatically overinflate your actual credit score. I would stick with My FICO if I were you.

Lokesh W. · Answer

Has anyone (or someone you know) here obtained unsecured business credit based on their personal credit? Most companies are NOT charging a fee but they are charging a success fee which is reasonable because I don't have to pay them if they don't obtain the funding... Is there anything else I need to know or find out about these business credit companies??

I would like to know your experience.

Lokesh W. · Answer

I use AnnualCreditReport. It is free once a year.

Michael Pilarski, I use myFICO because I was able to get reports from multiple companies in one for if I sign up for their credit watch alter system. I get to use credit watch alert system 10 days for free. I heard good things about the their credit alert system.

Michael Pilarski · Answer

Dave Meyer The reports are free and yes you do have to pay for the scores, but they generally give a discount at the time you pull your credit info if you purchase your score then.  The scores you get are the msot accurate right from the agencies themselves and you can give those to the bank to use.  The banks will usually accept those scores if they were pulled with in the last 60 days.  Some banks would require another credit score pull if those are under that 60 days. Lokesh W. juste curious as to why your using the myfico site instead of going directly to the reporting agency that has your report?  Besides getting your report for free, you can verify all ther info is correct and instantly send in disputes for any inaccurate info.

Joshua Dorkin · Answer

Mea culpa.  I seem to recall getting fico scores from the AnnualCreditReport.com website back in the day, but admittedly, it has been a while since I've used it as a source.  Sorry if I gave bad info.

Thanks for the catch, Dave Meyer!

Joshua Dorkin · Answer

Go to annualcreditreport.com as Michael Pilarski said, and you can pull your credit scores from Experian, Equifax, and TransUnion for free.

Michael Pilarski · Answer

Lokesh W.  Why not just pull your own credit and scores from the agencies by yourself?  You are allowed to pull your credit for free once every twelve months and when you do that each generally offers a discount at the time for pulling the credit score they have for you.  I did that recently and all were within 3 points of each other.

Lokesh W. · Answer

I called several credit repair companies and they told myFICO score is the actual credit score. One of the credit repair companies told that Credit Check Total dot com could be giving the business credit/loan companies a cheaper rate for credit checks and that’s why these companies recommend Credit Check Total.

myFICO.com score. Is it accurate??

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