ok I confess I am confused, 3 major credit agencies and 3 scoring models.. i thought i read on here that Equifax was FICO However when I got a merged report it said Beacon=EFX (equifax?) Empirica=TRU(Transunion?) Fair Isaac Score=XPN(Experian?) is this true?
Equifax is giving out the Beacon score at their site - it is derived from actual FICO scoring model. Experian and Trans Union are giving out some other version of the score - not their usual score based on the FICO model. So we are not getting the empirica score when we get our TU score, we are getting a made up score - kind of like when they give a baby a passifier. Each bureau has their own version of the FICO scoring model, then they all have other versions of scores used for different purposes. Also each lender can have a score that is desogned just for them. So when you apply to Citi, they see a different score than you see. Thoroughly confused?? Then you get it!! You really get it!!
yes now I really am confused *grins* how then do you track scores? I had a mortgage officer run a merged report for me in 3/01 which listed all three scores and then again in 10/01 I received a merged report..with scores Have I been trying to compare apples and oranges?)
Yup, except for the beacon score, and it may be a little different for a mortgage than it is for a credit card. TU and Experian - it's the "passy" vs mommy's milk. hehe.
Breeze, Since EQF gives the most accurate (using the term loosely here) of the 3 scores, is it better to subscribe to score power for $38.85 & get 4 scores for the year, or pay CreditExpert $79.99 for instant, daily gratification?
