Fico Score versus Credit score?

Asked by Megan, Bala Cynwyd, PA Wed May 16, 2012

I was thinking about my fico and credit scores and wondering is one more important than the other when looking to purchase a home? My credit score is a 670 and my fico is a 674. Do these work hand and hand together?
Thanks very much,
Megan

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4
Todd Reed, Agent, Exton, PA
Wed May 16, 2012
Agree with all, the mid score of the 3 will be used.
0 votes
R. Eric Axel…, Agent, Cherry Hill, NJ
Wed May 16, 2012
Hi Megan, the two (2) terms are used interchangibly to mean one and the same. FICO is a brand name of the Experian credit score. It stands for Fair Isaac Corporation. Basically however, we look at all 3 scores and use the middle one as your "credit score".

Best of luck to you. By the way, have you chosen a Realtor yet? I love Downingtown and Bala Cynwyd. Hint, hint!

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
267.507.2287 d
axelson@kurfiss.com
Web Reference:  http://kurfiss.com
0 votes
Nick & Trudy…, Agent, Devon, PA
Wed May 16, 2012
Megan your FICO is a credit score, each of the three agencies Equifax, Experian and TransUnion, provides a numerical score, lenders look at all three when they obtain your credit report and use the middle one to decide your rates that they will offer. This site run by the Federal Trade Commission http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml allows you to obtain a free credit report drawn from all three agencies once a year.
0 votes
Thank you Nick! I just did this to get reports but then I realized it doesn't show you the scores. Does this sounds right?
Thank you,
Megan
Flag Thu May 17, 2012
Edmund Choi, Agent, Paoli, PA
Wed May 16, 2012
When lender pulls your credit for qualification purposes, 3 scores should be provided from the 3 major credit bureaus and the mid-score will be used. Good Hunting!
0 votes
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