“Hi Gary. Question about credit scores. I thought the max was 850, but I just bought a car and they said my score was 870. How is that possible? I asked the guy at the dealership and he didn’t know.”
Congratulations for having great credit. But don’t worry, your 870 score hasn’t broken the credit scoring software.
There are actually three different types of credit scores:
300-850: “Classic” FICO model used by the mortgage industry
250-900: “Auto,” used by (you guessed it) the auto industry
250-900: “Bank Card,” used by the bank card industry
Other than confusing the consumer, there must be a good reason there are three different credit scoring models. But no one has shared that with me…