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DaMan619 t1_iug5v2v wrote

Reply to comment by bludgeonedcurmudgeon in How accurate is Credit Karma by CASTePhYRusIO

Looks like each credit bureau got their own version.
>Once you get older than FICO 8, the naming of the FICO scores becomes a little inconsistent across credit bureaus. There is no FICO 7 or FICO 6, but there are FICO 5 and FICO 4 scores at Equifax, FICO 4 and FICO 98 scores at TransUnion, and FICO 3 and FICO 2 scores at Experian. And yes, all of those scores include the bankcard and auto loan variants.

Only difference I know if how charge cards are treated. FICO8 doesn't count them for utilization while older models use the highest reported balance as the credit limit. FICO9 made some derogatory remarks lose less points and going by OP's 80pt difference that's probably the case here.

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bepr20 t1_iugqm4t wrote

No, its not different by bereau.

FICO is an independent company that creates credit scores algorithms, FICO 1,2,3,4 etc. Beureau's provide credit reports, and then sell the scores using their credit reports and the FICO algorithm. The algorithm used is determined by the lender when they purchase a score.

There are different score versions for two reasons.

(1) Different scores are better for different purposes. Some are used primarily for auto, others mortgages, other credit cards, etc. So lenders select what they want.

(2) Older scores are sunsetted, new ones are created that do a better job then older ones.

Vantage is an alternative algorithm developed by a consortium of beaureus because they are tired of paying FICO.

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bruinhoo t1_iugsocg wrote

In the case of mortgages, each of the 3 bureaus actually get run through different FICO models, FICO 2, 4, and 5

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