FICO vs. "Plus" Scores?

NEW -> Contingent Buyer Assistance Program
O

OChomeshopper_IHB

New member
<p>Happy 4th everyone!</p>

<p>I recently ran my free credit report with Experian. It gave me a "Plus Score". Would someone mind explaining the difference between this plus score and "FICO"? My plus score is 760+ out of a possible 830, is it prudent to assume the "FICO" would be in the same range?</p>

<p>Thanks so much.</p>
 
Your FICO is your true credit score. Plus is a consumer product that's somewhat close to FICO. Plus is nearly worthless because that scoring model isn't used for lending decisions. Other credit reporting agencies have similar consumer products and they're just as useless.
 
Good to know...seems like this free credit report score is a racquet...there are several hoops to jump through and once you obtain your score you have to make sure you cancel the membership they force on you to avoid a recurring monthly fee.
 
<p>If you're 760 on that Plus score, I wouldn't worry too much. From what I've seen, the scores seem to correlate reasonably well. You wouldn't be that high if there were problems.</p>

<p>Maybe Graphrix or someone in the industry can tell us where the FICO cutoff lies for the very best loan products. For auto loans, it's commonly 700 though I've seen "superprime" products for 720 or 740+ from some lenders (I have one from Eagle Credit Union, in fact). </p>
 
You must log in or register to reply here.
Back
Top