FAQ - Credit Scores

FICO® Classic Credit Scores. The FICO Classic Credit Scores are used by all mortgage lenders, and an estimated 70% of auto and credit card lenders for loan approvals.


The Classic FICO® Credit Scores provided by My Credit Plan are used by all mortgage lenders, and most auto lenders and credit card companies.

Several companies offer a different credit score modal called the Vantage® Score that is not used by lenders for loan approval. This score is different than the Classic FICO Credit Scores and is considered unreliable for determining credit score loan qualification.

Other entities including the three major credit bureaus offer the FICO 9 Credit Score. This score is different from the Classic FICO Credit Score and is not used by mortgage lenders.

Such websites and lenders generally offer credit scores that are deemed “unreliable”. There is no charge to provide them because they are different and have no value to lenders.

One point lower on a Classic FICO Credit Score can cost you thousands of dollars more on a mortgage, or even an auto loan. For this reason, it is best not to follow such unreliable scores.

This is hard to determine. This is hidden from the consumer. One must usually look under the “Terms and Conditions” of each website.

The Classic FICO® Credit Scores are not widely available to the consumer. A consumer may be able to access them through a few lenders, FICO, or through a non-profit credit counseling agency which Family Financial Education Foundation / My Credit Plan are.

Generally, any other credit scores use an entirely different program to calculate the scores they offer you.


My Credit Plan is hosted by Family Financial Education Foundation (FFEF), a 501 (c) (3) non-profit certified credit counselor. FFEF is not a lender. All requests for your credit report and FICO Classic Credit Scores through FFEF are soft inquiries. Since they are soft inquiries, the credit reports and scores pulled through My Credit Plan do not lower your FICO Credit Scores.

My Credit Plan provides the FICO® Classic Scores used by most lenders. The only resource to access these scores is either through a non-profit credit counselor such as Family Financial Education Foundation / My Credit Plan, a lender (which usually produces a hard inquiry), or FICO itself.

Most lenders and websites offer different scores that are considered unreliable and not used by lenders. They are not precise to the Classic FICO Credit Score. They are not always directionally accurate to the Classic FICO Credit Scores. They are too often misleading to the consumer.

Please read the following reference by CNBC. CNBC Article


Most loan officers have demonstrated a lack of knowledge about the strategic possibilities of improving a FICO® Credit Score. Loan officers have demonstrated one of two issues.

First, we have seen time and again loan officers give incorrect advice that lowers FICO Credit Scores. We do not recommend you follow advice given by a loan officer unless it has been verified with a Family Financial Education Foundation counselor.

Second, a loan officer may provide one or two suggestions that improve FICO credit scores a few points. My Credit Plan looks at many possibilities and provides numerous suggestions to improve scores.


You must use the FICO Credit Scores pulled through your lender. However, the Classic FICO Credit Scores provided with My Credit Plan are the same FICO Credit Scores used by all mortgage lenders and about 70% of credit card and auto lenders. If a mortgage lender pulls them the same day as My Credit Plan, those scores will usually be the same as My Credit Plan.

Some credit card and auto lenders use a FICO 8 version that goes between 300 and 900. The FICO 8 version is built of the FICO Classic Credit Score program with extra analysis for good credit management on auto loans and credit cards.

My Credit Plan has certified lenders who have demonstrated an excellent knowledge and understanding of the FICO® credit scoring system.


Momentum Loans has many clients in My Credit Plan and their loan officers have demonstrated an excellent knowledge of credit scores. Many of their clients have seen outstanding results.

Momentum Loans is a marketing partner of My Credit Plan.