Credit wise vs FICO credit score

[MJ]

My credit score from all 3 credit reporting companies is excellent. I've wondered why Creditwise is always about 5- 6% lower than FICO, even though CreditWise at CapitalOne and FICO at Wells Fargo both use TransUnion data. A 5% lower score could get you a slighly high mortgage rate if you have border line score.

[Car-Guy]

I have no idea. The only time I even check mine is when a thread like this pops up... So that's several times each year.

[Aerides]

I am only a one point difference between TU and Equifax. It's my understanding banks pull more than one when applying for a mortgage.

[MJ]

Again, the point of this inquiry is that the two different scores are coming from the data of TU but being reported by Credit Wise and FICO differently.

[Sunset]

No idea, but I would guess that each has their own "in house" massage of the number related to what they see from a customer at their business (or even customer vs non-customer).
Could also be an update issue, maybe they get a lagging indicator value.

I just got 2 more credit cards.
One said my score was 815/850 the other said it was 823/900

Somebody is wrong

[jazz4cash]

There are many variations of credit score among AND within the major credit bureaus, Fair Isaac, etc. Is there an identifier for the specific scores you are comparing? Here is an explanation and examples just for FICO.

https://www.myfico.com/credit-educat...score-versions

[COcheesehead]

Timing may enter the equation as well.

[jazz4cash]

Quote:

Originally Posted by MJ My credit score from all 3 credit reporting companies is excellent. I've wondered why Creditwise is always about 5- 6% lower than FICO, even though CreditWise at CapitalOne and FICO at Wells Fargo both use TransUnion data. A 5% lower score could get you a slighly high mortgage rate if you have border line score.

So Creditwise is a service of Cap One that uses VantageScore 3.0. There are numerous Fico scores. A quick search tells me Wells Fargo reports Fico Score 9 using Experian data.
https://www.wellsfargo.com/goals-cre...edit-101/fico/

I am not surprised if it is difficult (impossible) to compare these directly. I did a deep dive on my own “free” scores from 5 different banks. They were generally within 2% but some models were more reactive than others.

It’s not too hard to boost mediocre credit scores by paying down debt but it gets tougher if you already have a decent score.

I see FICO? credit score bands of 760-850, 700-760, 680-699, etc. That not even close to 5%. The difference in rates is less than 1/4% between bands.

I would see what score model the lender will be using and what are their rate bands.