Alliant: Changes to Free Credit Score

[haulingthescoreup]

---

@castlefox wrote:

Alliant didnt offer a FICO score before, it was a fako score.  I know that because it was out of 950.

It was a Advanced Risk Score 2.0 (NextGen) or whatever that means

Its free so its hard to complain with free.     I only find it useful if it went down by a lot becuase I forgot about some debt somehow.

I plan on getting my FICO score the next time my FAKO score gets updated.  Im courious how they will compair.

---

NextGen is actually a type of FICO score. FICO developed it as an alternative score that focused more on the most recent two years. (I think that's what it was.) It went pretty much nowhere at a high rate of speed. Nevertheless, it couldn't be correlated to classic FICO scores, which is what most people are thinking about when they say FICO.

I'm still happy with PSECU, although they certainly had some big-time hiccups while dealing with the volume of new members. From what I've read recently, they seem to be pretty much back on track, although some never did get their apps through.

[Anonymous]

---

@castlefox wrote:

Alliant didnt offer a FICO score before, it was a fako score.  I know that because it was out of 950.

It was a Advanced Risk Score 2.0 (NextGen) or whatever that means

Its free so its hard to complain with free.     I only find it useful if it went down by a lot becuase I forgot about some debt somehow.

I plan on getting my FICO score the next time my FAKO score gets updated.  Im courious how they will compair.

---

No, it was not a FAKO.

NextGen is a FICO product.

[Anonymous]

---

@haulingthescoreup wrote:

---

@castlefox wrote:

Alliant didnt offer a FICO score before, it was a fako score.  I know that because it was out of 950.

It was a Advanced Risk Score 2.0 (NextGen) or whatever that means

Its free so its hard to complain with free.     I only find it useful if it went down by a lot becuase I forgot about some debt somehow.

I plan on getting my FICO score the next time my FAKO score gets updated.  Im courious how they will compair.

---

NextGen is actually a type of FICO score. FICO developed it as an alternative score that focused more on the most recent two years. (I think that's what it was.) It went pretty much nowhere at a high rate of speed. Nevertheless, it couldn't be correlated to classic FICO scores, which is what most people are thinking about when they say FICO.

I'm still happy with PSECU, although they certainly had some big-time hiccups while dealing with the volume of new members. From what I've read recently, they seem to be pretty much back on track, although some never did get their apps through.

---

Perhaps a point-by-point correlation isn't possible, but the general trends pictured by the score does tend to mimic a standard (if there even is such a thing as standard) FICO.

I have been keeping a database of each and every different type of score I have ever been assigned over the past five years.  My standard FICO has gone from 650's to 780's.  My FICO NextGen from 730's to 860's.

My Plus scores have stayed within a ten point range of 720.  My VantageScore has dropped from 780's to 760's.

Even as purely education value, FAKO's are pure, unadulterated crap. 

[android01]

---

@Anonymous wrote:

I guess I should not be surprised by the following lame response showing Alliant's justification for changing from a FICO NextGen to a worthless FAKO VantageScore, but I did expect better of Alliant.

---

Thank you for your feedback and question about why we don't offer a "real FICO" score. The answer has to do with our intent in offering credit scores. Our mission is to help our members achieve their financial goals. To that end, we offer market leading rates on deposits and loans, 24/7 live member care, financial counseling, retirement and investment services and online financial education tools, one of which is a credit score. We offer credit scores to our members, at no charge, to help them assess their credit and financial health, not so they can know exactly what a particular score is or will be at the time they apply for a loan, a job or insurance. We feel the VantageScore, which was developed by the three leading credit reporting agencies, can give members a consistent view of their credit and financial health, and when used in conjunction with our market leading rates, 24/7 member care, financial counseling and advisory services that they have the tools, the products and services to achieve their financial goals. We recognize and appreciate your opinion on credit scores and will consider it as we're continually looking to improve the products and services we offer our members.

---

Looks like it's time to switch over to PSECU.

---

Now that I'm a member of PSECU, I wonder if it's just a matter of time before they don't offer a FICO score anymore.  They are the ONLY ones left who offer EX FICO that anyone knows of, and knowing this group's obsessive nature, I'm sure we would have heard by now about anyone else who was.  I wonder if PSECU has any idea of how many people joined up just for the EX FICO.