Hmm... I need to find out myself. I don't know what is the right answer to your question. I'll do some investigation and get back to you if I find an decent answer. You should email the people at Discover Card as they probably could help you..

Normally we don't obsess over scores, but we've got to get his mid to at least a 620, if not a 640, so we can get a mortgage. We're trying to slip under the wire for the tax credit, just in case it doesn't get renewed again...

Each of the CRAs has a slightly different way to organize data and this affects the calculation of FICO scores..

This post has been edited by hegemony: 26 January 2010 - 09:06 PM..

Which score is associated with which CRA?.

The EQ score you purchased is a 2005 version Fico score that is likely to be the same as the lender uses..

The TU score you purchased is a 1998 version Fico score. It is possible that it might be the same as the lender uses, but it is more likely the lender will use the 2004 TU version instead. It is difficult to predict how much the 2004 version score will differ, but there is a slight tendency for the 2004 version score to be lower.

The EX score from the Experian site is a non-Fico scoring model. It is fairly certain the lender will use a completely different, Fico-based score. It is difficult to predict how much the EX Fico score will differ .....

OP:.

The *ONLY* dumb questions are the ones you didnt ask.. Ask away.....

Well, given all the differences between models when would you recommend we go ahead and pull the trigger if we need a mid of 620?..

Lol SO got so excited over the EX score on the experian site that he pulled all three. Yeah, those are off, unfortunately.

Experian Score Watch puts his scores at:.

Experian: 653.

Equifax: 687.

Transunion: 653.

Yeah, we wish these were real. Problem solved!! But, given that the myfico scores for TU and EQ were lower, and in EQ case CONSIDERABLY lower we can't put much faith into em.

Any suggestions?..

+1.

As far as whether to pull the trigger, I would try to get the scores up a bit first. Mortgage inquires stick so make them worth it. That 620 (or more recently 640) tends to be fairly rigid. As for what to attack first to get those points most quickly, that would depend on your individual reports and situation. Depending on your current utilization, you may be able to quickly to get your score way up if you could decrease it. If you pay down the balance(s) on accounts, many lenders will rapid rescore so that the new utilization will be reflected in your score. Good luck and I hope you get a home you love...

So, it appears this is how your original posted scores match up with the CRAs: EQ Fico = 558, TU Fico = 611, EX Fako = 653..

I'd guess that if your lender pulls a 2004 version TU Fico score, it will be lower than 611, maybe 580-590..

If your credit reports are identical, your EX Fico score is probably similar, maybe somewhere around the high 500s..

With those assumptions, it would seem that credit score improvement is needed before a mid-score of 620 gets within reach. You might want to post particulars (late payments, number and date of inquiries on each report, utilization percentage) if you'd like any advice..

(Edit) Oops, a bit slow ....

I agree with ProfessorMom that improving utilization (if there is room for improvement) might be the quickest route to getting some score improvement ....

This post has been edited by Revike: 26 January 2010 - 10:21 PM..

Right now, his utilization is around 70 percent. We are going to have it down to 10 percent before the new balances report next month. He has one late payment in the past 12 months. His EX has several inquiries, but not very many on TU or EQ.

Biggest issue is utilization. Followed by the one 30 day late (screw up courtesy of some bank changes). We're hoping the utilization will put him over the 620...

Bear in mind that many lenders right now will not approve FHA under 640. the bar has been raised thanks to all those knuckleheads that mucked it up for the rest of us...