MyFICO score for Equifax is 715 (can not freeze because of a TU safety). Went to get to the Experian Vantage score and it is 776 (of 990). Here is me as strange: Experian says I have too many inquiries within the last year – I have one. MyFICO says my is positive with only one request. Experian said: “The average loan amount across open, reported recently real estate accounts, such as a mortgage is too low with low loan amounts has a negative impact on your credit score (ME).” What does this mean? MyFICO says that the fact that I joined 20 years worth of credit is a positive, Experian, says: “Your report indicates that the time has been open since your oldest credit account or loan to short is open to credit accounts or loans. for a long time have a positive impact on your credit score. (TS) “I'm going 0.
tends with myFICO not only because it makes me happy to join the 700 Club, but because it seems to be the most accurate. Does that sound about right or am I missing something?
Best Answer: This should help you.
FICO scores from 300 to 850 and Vantage scores from 501 to 990.
Here is the breakdown for both systems.
Vantage Plus system scores from 501-990.
A-901-990
B-801-900
C-701-800
D-601-700
F-501-600
FICO system scores from 300-850.
Elite-740-& up
Prime-700-739
Preferred-660-699
Standard-625-659
Sub-prime-624-& under
FICO is the only one that matters since it's the one that all major lenders look at.
So as you can see it depends on if your looking at a true FICO score or a Vantage plus score.
As far as what makes up credit scores it's the following;
1. Payment history (longer the better) 35%
2. Time in bureau (longer the better) 15%
3. Types of credit (mix of credit cards & installment loans) 10%
4. New credit (new accounts and inquiries) 10%
5. Debt to credit ratio (lower the better) 30%
And just so you will know Experian only uses Vantage, Equifax only uses FICO and Transunion uses both depending of which type of credit report is requested of which there are 3. The standard that people get from The Internet, the auto enhanced which only car dealers and lenders see and the factual which only mortgage people see. The last two are not available to the general public.
To have the very best score and profile people need 3-4 credit card accounts (revolving) with balances below 30% of their credit limits and 2 cars, homes, boats, motorcycles, computers, furniture or personal accounts (installment) all with good long payment history's.
Reply: Can I still be in the 700 club? PPLLEEAAAASSSEEE!!!!
Welcome to the 700 Club, JM!
I myself just re-joined today.
Good one!
Reply: Can I still be in the 700 club? PPLLEEAAAASSSEEE!!!!
Welcome to the 700 Club, JM!
I myself just re-joined today.
Reply:Can I still be in the 700 club? PPLLEEAAAASSSEEE!!!!
Reply: Keep in mind that it doesn't really matter which one you consider more accurate…what matters is "which one is my lender going to use when I apply for a loan?"…and the answer to that is still overwhelmingly the MYFICO score.
yes and no…the issue of which the lender is more prone to use is what one needs to know, but it is not always going to be the equation that is shilled on the myFICO site.
Fair Isaac has MANY, MANY models…the one I consider most relevant to MY use was the bankcard-enhanced score that we knew as PFICO. The Classic score (FICO04 or whatever it is) does not mean much to me in day-to-day lending searches.
Reply: Keep in mind that it doesn't really matter which one you consider more accurate…what matters is "which one is my lender going to use when I apply for a loan?"…and the answer to that is still overwhelmingly the MYFICO score.
Well, then, welcome me to the 700 club.
Reply:Keep in mind that it doesn't really matter which one you consider more accurate…what matters is "which one is my lender going to use when I apply for a loan?"…and the answer to that is still overwhelmingly the MYFICO score.
Reply: Do not confuse Vantage with Fair Isaac…they are two different entities. Vantage was created by the three bureaus with the intent of it being a competitor to Fair Isaac. It is the subject of ongoing litigation.
And yes, in some models, ONE inquiry in a year is one too many.
So would you consider my MyFico score to be more relevant?
Reply:Do not confuse Vantage with Fair Isaac…they are two different entities. Vantage was created by the three bureaus with the intent of it being a competitor to Fair Isaac. It is the subject of ongoing litigation.
And yes, in some models, ONE inquiry in a year is one too many.