Credit Profile vs Credit Score



in this video I breakdown the difference between a credit score and credit profile

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Most consumers wonder why their credit scores are so different. If you pull your own credit report, you will most definitely pull different scores than what a lender pulls.
If you apply for a car loan, your scores will be different than if you are applying for a mortgage. Many people wonder why these scores are so different.
There are actually hundreds of different scoring models available through Fair Isaac. Many of these are referred to as “industry option” scoring models.
These scoring models are industry specific. There are separate models for mortgages, cars, lines of credit, and other bank offered loan programs.
These score models take certain things into account heavier than all other accounts.
For example, the auto industry scoring model takes into account your car history heavier than everything else.
If you were ever late on a car payment or had a car loan which you defaulted on, a dealer using the auto industry option will pull a lower credit score than what you might pull.
Your negative car history would have a greater impact on your credit score than any other defaulted account.
The reasoning behind this is that an auto dealer is more concerned with your car payment history than all other accounts.
If you have good car history, your score will be much higher. The same applies if you have bad car history.
FICO 08, FICO Bankcard, FICO Mortgage Industry Option, and the FICO Auto Industry scoring models are only a few of the hundreds that exist

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4 Responses

  1. Cody Archer says:

    Thank you for this!

  2. Jorelyn Paligsa says:

    Yes Brian, this message of yours was very, very clear. Everybody needs to hear this message bc it is almost never talked about. Well done Brian, and thank you.

  3. William Steele says:

    When i apply for wal-mart business credit card do i need to give them a personal grantee/ do i have to give them the SSN

  4. Enlight And Ignite says:

    When applying for business credit do you use duns number or EIN number? D&b told me to use duns number but I’ve heard other people say use EIN number

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