Which score do lenders use, bureau, or fico score? - Posted by GAR

Posted by Clint Wooley on August 26, 2003 at 08:13:24:

I’ve never seen an in-house score, (and I’ve seen more credit reports than I can remember), actually, I’ve been in this long enough to remember the days of underwriting before FICO even existed! I guess that makes me old…

Which score do lenders use, bureau, or fico score? - Posted by GAR

Posted by GAR on August 25, 2003 at 18:23:30:


I just learnt that credit bureaus have their ownm credit scoring sytem which is dofferent than the FICO scoring system.

  1. For example my Experien Score is 711,

  2. But my Experien FICO Score is 639

Which score do lenders use ? The bureau score, or the FICO score ?



Re: Which score do lenders use, bureau, or? - Posted by Bruce Lawson

Posted by Bruce Lawson on September 02, 2003 at 15:35:31:

Hi Gar,

I am with Clint on the in-house credit scores I have never seen them. Lenders will use the middle score most likely providing they pull a trimerge(all three scores). It is never clear which of the three any lender subscribes to most use Equifax and Transunion, and if the score is somewhere that meets their criteria there is no need for them to pull all three.

I believe what you are referring to is the difference in scores the consumer receives and what the lender sees. The credit report a consumer has access to is different than a lender gets nevertheless they are close.

I believe that is what you are asking about. Also the credit reporting companies are no longer bureaus they were forced to change their names to credit reporting companies because people were thinking they were part of government, and they are just companies in business to make money and nothing else.


Bruce Lawson

Re: Which score do lenders use, - Posted by Clint Wooley

Posted by Clint Wooley on August 25, 2003 at 19:43:56:

You actually have three scores, each named differently and owned by the three major repositories, or credit reporting agencies. All three were designed by a company called Fair, Isaac, & Co. , hence, "FICO"
Equifax = Beacon
TransUnion = Emperica
Experian = FICO
Most lenders use the middle of all three or the lower of two.

Re: Which score do lenders use, - Posted by GAR

Posted by GAR on August 25, 2003 at 21:12:46:

Hi Clint:

Experian alone has two scores.

There is an inhouse score generated by experian themselves; and there is another score generated by fair issacs, off info on your experian credit history (this is your experian fico score).

So I wanted to know if lenders consider the in-house score, or the fico score

Re: Which score do lenders use, - Posted by Bee

Posted by Bee on September 11, 2003 at 14:03:56:

That in-house score that you refer to is just a money making avenue for the credit reporting agencies. Those are the fake scores that consumers get. The only thing I use that score for is a minimum indicator of how my credit is. Depending on how the wind blows, your actual fico score will be higher or lower than the fake score most of us get.

If you would really like a good indicator of where you are, you can get your fico scores individually from each agency website or go to myfico.com to get them all in one place.

Hope this helps.