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Former myFICO Employee
Posts: 361
Registered: ‎01-16-2014
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FICO vs. FAKO – Share your FAKO stories

Hey there forums members! Have you ever been impacted in your financial journey to obtain a new loan or credit card by relying on a “credit score” you thought was a FICO® Score?  We want to hear your story. Genuine FICO Scores are used in over 90% of lending decisions, while other “credit scores” (often referred to as FAKO scores) are rarely or never used by lenders to grant credit. Your story could help other consumers who find themselves in a similar situation. Have a FAKO story you’d like to share? Simply reply to this thread with your answers to the questions below.

 

  1. Where did you get your FAKO score?
  2. Which FAKO score did you receive and from which bureau?
  3. Where did you get your genuine FICO® Score?
  4. Which FICO® Score did you receive and from which bureau?
  5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful)
  6. Share your FAKO story (What was your first impression when you received your FAKO score? How did you figure out that it was not a FICO® Score or that it was different than a FICO® Score? How did the FAKO score impact your loan/credit experience? )
New Contributor
Posts: 62
Registered: ‎07-28-2015
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Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

Well I'm in the low 700's on Credit Karma but only in the 530's-560's on Fico.  To me that is a HUGE difference.

Discharged Chapter 13 late 5/15. Starting my rebuild:
7/28/15 Fico 8: EQ 567-Trans 534-Ex 542-----8/28/15 Fico 8: EQ 632-Trans 622-EX 625
9/25/15 Fico 8 EQ 663-Trans 634-EX 645-----12/9/15 Fico 8: EQ 673-Trans 654-EX 663
2/17/16 Fico 8: EQ 670-Trans 658-EX 676-----3/4/16 Fico 8: EQ 686-Trans 667-EX 686
Valued Member
Posts: 45
Registered: ‎08-22-2014
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Re: FICO vs. FAKO – Share your FAKO stories

Ironically enough, my CK score and MyFico score are about the same (~5 pt difference)
Former myFICO Employee
Posts: 361
Registered: ‎01-16-2014
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Re: FICO vs. FAKO – Share your FAKO stories


1Rebuilding wrote:

Well I'm in the low 700's on Credit Karma but only in the 530's-560's on Fico.  To me that is a HUGE difference.


Wow that is a big difference!  Would you mind telling us a little bit more about your story? We’re interested to hear how your FAKO scores may have impacted your experiences seeking a loan, new credit or any other aspect of your financial journey. 

Valued Member
Posts: 48
Registered: ‎05-11-2012
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Re: FICO vs. FAKO – Share your FAKO stories

A little of topic, but a few years ago, I had signed up for score watch and was in the process of rebuilding my credit. I saw my FICO score moved from 525 to over 700 and was super excited to see such an improvment. I tried to applied for an auto loan for just a fairly small amount of 10k and was embarrassingly declined. What I found that is more important than your FICO score is, what is in your credit report.
Contributor
Posts: 97
Registered: ‎06-02-2014
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Re: FICO vs. FAKO – Share your FAKO stories

 


  • Where did you get your FAKO score? Credit Karma currently
  • Which FAKO score did you receive and from which bureau? TU 561 and EF 564 
  • Where did you get your genuine FICO® Score? TU 595  and EF 607
  • Which FICO® Score did you receive and from which bureau? MyFico Credit Monitoring 
  • What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful) Auto loan (back in May when myfico score was about  550)

I noticed that for some reason my Credit Karma has been a lot lower, anywhere from 25-60pts, from the MyFico. MyFico was spot on from the what the bank pulled for the auto loan. I decided I just need to wait until the end of the year and I hope to be in the 620-630's. 

 

myFICO's : EQ: 643 // TU: 635// EXP:645

WALLET: Victoria Secret $650 | Simply Be $850 | BOA Cash Rewards $300 I Cap 1 Secured $500 | Cap 1 Plat $4k |Chase Freedom $2.2k l Full Beauty $450 l Woman Within $450 l Wayfair $1.2k l Citi Double Cash $700 l Game Stop $300l Overstock $1K l Lane Bryant $300 l Ulta $750 l Walmart $700 l Target Red $1k
Amazon Chase $1k l Kohls $300
Regular Contributor
Posts: 117
Registered: ‎06-10-2015
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Re: FICO vs. FAKO – Share your FAKO stories

  1. Where did you get your FAKO score? Credit Karma and Credit.com
  2. Which FAKO score did you receive and from which bureau? Credit Karma is soooo off. My TU says 516 and my EQ says 546
  3. Where did you get your genuine FICO® Score? Credit Check Total
  4. Which FICO® Score did you receive and from which bureau? Current Fico Scores are: TU 589, EX 545 EQ 580
  5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful) I believe my new credit cards are helping me rebuild. I filed bk 03/15/2015 and was discharged 06/15/2015. My scores were in the mid to low 400's. I'm coming along nicely. I believe I will be atleast 663 by Jan/Feb
  6. Share your FAKO story (What was your first impression when you received your FAKO score? How did you figure out that it was not a FICO® Score or that it was different than a FICO® Score? I knew FAKO scores were fake by reading and researching. How did the FAKO score impact your loan/credit experience? ) I never cared or knew much about anything in reference to credit scores until coming here. Looking back, I've gotten car loans with no money down even while having a car loan at the time. I did not even know my score at that time smh. I'm glad, I know more now because having good/excellent credit improves your quality of life.

Credit Check Total Starting Fico Scores 06/15/2015:EQ484/TU459/EX498
Credit Check Total Fico Scores 03/01/2016:EQ603/TU607/EX609
CC's:Cap1 Platinum/Cap 1 QS1/CreditOne/Fingerhut
~Gardening Until June 2016~

New Contributor
Posts: 62
Registered: ‎07-28-2015
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Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

I think what is hurting me the most is my recently Completed CH13 and 4 old accounts that are showing up negatively.  All 4 accounts are about 6-10 months from dropping off.  It seems my real Fico scores are weighing them (4 derogatory accounts) heavier than all the Fako scores I have gotten.  (ranging from 640-702 last month).  I just had a new capital one card show up on my reports and my CK scores are now 712 TR and 720 EQ while my Fico scores are only at 595 TR and 631 EQ.  My Trans union score pulled from Capital one has me currently listed as a 668.  I am purchasing a new car in 2 weeks so I will report back with how I do.  I'm looking putting 40-50% down on the car.  I know my scores will most likely improve in 6-10 months so I will be able to refinance whatever rate I recieve.  

 

PS I do have at least 5 past auto loans and 4 CC that show up positive and closed.

Discharged Chapter 13 late 5/15. Starting my rebuild:
7/28/15 Fico 8: EQ 567-Trans 534-Ex 542-----8/28/15 Fico 8: EQ 632-Trans 622-EX 625
9/25/15 Fico 8 EQ 663-Trans 634-EX 645-----12/9/15 Fico 8: EQ 673-Trans 654-EX 663
2/17/16 Fico 8: EQ 670-Trans 658-EX 676-----3/4/16 Fico 8: EQ 686-Trans 667-EX 686
Former myFICO Employee
Posts: 361
Registered: ‎01-16-2014
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Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

Hi everyone,

 

First of all, thanks to all of you who shared your credit confusion stories. It’s been incredibly valuable to hear about your experiences with other types of credit scores and how your FICO® Scores compared.

 

We think it’s extremely important for people to understand the difference between FICO Scores and non-FICO Scores in order to manage their financial health effectively. Your stories are a critical part of helping people understand the difference.

 

I’m excited to announce the launch of FICOScore.com and FICOScore.com/stories! FICOScore.com is a purely educational website providing educational content about FICO Scores. FICOScore.com/stories is a community-driven sister site that allows people to read credit confusion stories, like and share stories they find useful, and submit their own non-FICO score experiences.

 

You’ll notice that we used some of the stories seen here. If you have any concerns or would like yours edited, please don’t hesitate to contact me via PM.

And for those of you who haven’t posted, I encourage you to go to FICOScore.com/stories and share your credit confusion experiences.

New Member
Posts: 11
Registered: ‎06-14-2015

Re: FICO vs. FAKO – Share your FAKO stories

Sprint pulled my TU score -- 723

FICO -- 601

FAKO -- 523

 

I'm so confused. I recently purchased a vehicle at 16.95% and was sick! I took the car back, negoitiated with the DM and received 0% via Ford Motor. They used Experian and my score was 566.  I'm still scratching my head, but giving GOD ALL THE GLORY!!

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