Does anyone know if the Fico score provided to credit card holders of Providian are accurate? or are they as inaccurate as the PG scores?
The Providian FICO scores are FICO scores - supposedly the real deal (FICO is heavily trademarked, otherwise Providian couldn't make such a claim). However (and this is IMPORTANT), the scores appear to be a different "flavor" of FICO - maybe FICO II or NextGen? When I view my card info online, I check out the FICO score. It's updated once a month, on the 15th. I noticed that the Providian score is LOWER (by 10-12 points) than the score I get from MyFICO.com, even though the scores are pulled on the SAME DATE! So, which one is the TRUE FICO score? Or is this all scam from our friends at Fair Isaac (consumers get one score, creditors get a different one)?
A family member asked me about this yesterday (I'm the resident credit guru) His Equifax MY Fico score was-730. Providian sent an email alert that the score they showed dropped from 713 to 674-- (only change-- a Providian BT! ) Further investigation shows that the score Providian uses is based on TransUnion data.
My Providian FICO score shows 570 while everything else is 605 to 625. Basically I still don't like providian, although I am currently using their card.
