myFICO.com score. Is it accurate??

[Lokesh W.]

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!

[Travis Sperr]

I have understood the same from the websites like you mentioned they typically report higher because they do not dig as deep.

For an accurate score you might reach out to a mortgage broker or banker and see if they will supply you with a credit report, you might have to pay $15-20 but it will be accurate.

[Ned Carey]

The score that most lenders use is FICO. However there are many "Scores" out there. Many companies offer your credit report and score. My understanding is that these scores are not FICO scores, hence they do not call them FICO, just a score.

However it is also my understanding that MyFico.com is a genuine FICO score. However I have read that the Transunion score from MyFico is FAKO

[Russell Monson]

I've used myfico.com to track my score for the last 6 months and have obtained two mortgages in that time. The score pulled by my mortgage broker was within 5 points of the score I showed on myfico.com both times. I'm sure this varies significantly depending on your individual circumstances, but my experience has been pretty good.

[Lokesh W.]

Travis Sperr, Ned Carey, Russell Monson,

I will try out another company. It is hard to believe that MyFico would increase the actual scores by 60 points!

The business credit company recommended credit check total dot com. I will try this out and see.

[Shawn Dandridge]

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.

[Shanequa J.]

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.

[Brandon Beale]

Ok. So if you order a three score and report pack from one of the reporting agencies directly. What score model do you get then. I recently ran all three on the experiam website thinking I would get accurate scores from them.

[Brandon Beale]

Ok. I just looked at the score page on my reports. These were order online at experian. Beside the scores it says they are calculated using thier plus model. Doesn't sound like an actual FICO to me.

[Brandon Beale]

So just for the sake of credit score science. I'm going to go to the bank tomorrow and apply for loan pre approval. Then ill ask about my score and see how it stacks up to experians "plus model". Then ill let everyone know if there is a despcepancy.

[Lokesh W.]

I pulled out reports from Credit Check Total dot com. The score on Experian was lower by 70 points. For Trans Union, it was close. Well, I can see why business credit companies recommend a particular company - possibly they are getting some affiliate commissions.

[Brandon Beale]

That could very well be true

[Steve L.]

MyFico is really close for me. I use Score Watch for a two years.

[Lokesh W.]

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.

[Michael Pilarski]

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.

[Joshua Dorkin]

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

[Dave M.]

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

[Joshua Dorkin]

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!

[Michael Pilarski]

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.

[Lokesh W.]

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.

[Lokesh W.]

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.