Credit score ranges: Can someone give me a definitive answer to this?

Financial institutions can use customized scores, maybe they're doing that. Or maybe something else.

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Financial institutions can use customized scores, maybe they're doing that. Or maybe something else.

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This. PenFed is likely using a proprietary score, not FICO which ranges from 300 to 850.

You can buy several different credit scores but the only one that really matters is your FICO score. Even the scores you buy directly from the credit bureaus aren't real FICO scores. Yeah, it's BS but they keep making money off of it.

I am going through a mortgage company right now. Here's what was listed on my credit score disclosure sheet:

Equifax (EFX)/Beacon Score
Range of possible scores: 300-850

Experian (XPN)/Fair Isaac Score:
Range of possible scores: 300-850

TransUnion (TUC)/Classic 2004 Score:
Range of possible scores: 300-850


However, I dropped the 1st lender I was using. I shredded the disclosure sheet, but they had different scoring ranges listed (not sure what models they used). I think all of them started at 300, but Equifax or Experian was 850 max and the other was 830 or so max. Transunion had a max score of something like 930.


Everyone on this board will tell you that Fico is the only one that really matters, but there are so many models that it is really tough to tell which is best. The best thing is just to monitor your report at least once/year to prevent fraud and inaccuracies. If you do that, while keeping your balance-to-limit ratios low and paying notes on time, then your score will fall where it needs to be.

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If they used another type of credit score, I would probably find another lender.

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I wish I still had that disclosure form to see that their model and ranges said. It seemed really weird.

As for FICO, I guess I just don't totally understand what is a FICO score and what isn't unless it says Fair Isaacs behind it. But either way I don't take too much into what the score says. I know that if I have a good mix of credit, good average age of accounts, pay bills on time, and a low balance-to-limit ratio then the score will fall in line with what I need it to be.

I have a credit monitoring service with Identity guard. I know it does not use Fico scores, but IMO it is the best comprehensive monitoring service out there. The scores are generally off by 10-30 points, but it shows me what is on my CRs as well as alerts me when an inquiry is made. Myfico just does not give me the access to all 3 like I want.

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The best thing is just to monitor your report at least once/year to prevent fraud and inaccuracies. If you do that, while keeping your balance-to-limit ratios low and paying notes on time, then your score will fall where it needs to be.

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This. The purpose of a credit score (whoever issues it) is to figure out how likely you are to default. That is the number that actually matters - not the score itself.

But you should be able to have a reasonably good sense of where you stand just by looking over your report (not the score). If you have no 30 day lates at all and a credit history of 5+ years, you're in decent shape at least and the exact score isn't all that important.

Don't worry overly much about things like how much you have borrowed, how many times you've made an inquiry, etc. They are minor. It's pretty simple - if you have a record of being late 30 days more than once then your score is in the shitter. If that has never happened then to varying degrees you're okay.

My credit score just moved up 30 or so points due to some really old dings which just fell off my record.

I guess the only thing left is to manage credit ratios and inquiries to move it over 780.

Average age of accounts is something I really can't control, unless I decide to close existing paid in full cc accounts, but I think that would probably do more harm than good.