Which FICO score is most accurate?

The most accurate credit scores are the latest versions of the FICO Score and VantageScore credit-scoring models: FICO Score 8 and VantageScore 3.0. It is important to check a reputable, accurate credit score because there are more than 1,000 different types of credit scores floating around.

Why are my FICO 8 scores different?

FICO® scoring versions differ from one another because each is based on a unique formula. Though FICO® Score 9 debuted in 2014, FICO® Score 8 is still widely used in lending decisions.

Do lenders use different FICO scores?

Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more. FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation.

Why is FICO score 8 higher than FICO score 2?

Re: credit score fico 2 much lower than fico 8 Paying the loan down completely may briefly lower your credit score because you’ll have less accounts and less variety of accounts open.

How do I get my true FICO score?

You can get your FICO® Score for free from hundreds of financial services companies, including banks, credit unions, credit card issuers and credit counselors that participate in the FICO® Score Open Access program and offer free scores to customers.

Which FICO score is used for a mortgage?

FICO® Score 5
The commonly used FICO® Scores for mortgage lending are: FICO® Score 2, or Experian/Fair Isaac Risk Model v2. FICO® Score 5, or Equifax Beacon 5. FICO® Score 4, or TransUnion FICO® Risk Score 04.

Why is my credit score different when a lender pull it?

This is because individual consumer reporting agencies, credit scoring companies, lenders and creditors may use slightly different formulas to calculate your credit scores. They might also weigh your information differently depending on the type of credit account for which you’ve applied.

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