ItsyRV wrote:
westernrvparkowner wrote:
Your lender was mistaken. You can check the websites of all three major credit bureaus TransUnion, Experian and Equifax. They will all confirm the highest possible score is 850.
Direct from FICO's website:
FICO® Auto Scores and FICO Bankcard Scores have these aspects in common:
Many lenders may use these scores instead of the base FICO® Score.
It is up to each lender to determine which credit score they will use and what other financial information they will consider in their credit review process.
The versions range from 250-900 (compared to 300-850 for base FICO® Scores) and higher scores continue to equate to lower risk.
The credit bureau's use a BASE FICO score to report credit standing, but lenders use a score more representative of the type of loan they are providing. As a result, minimum and maximum scores are not the same as Base scores and the criteria used to create the scores also varies.
And that auto score is proprietary to the Auto lending industry and is not available to the public. The thought that the borrower somehow got in personal contact with the lender who then disclosed that internal score is a stretch. It was hard policy at the bank I worked for ($100 billion plus in assets and I was positioned in management at the corporate level, not a local branch teller) that such a conversation was strictly forbidden.
