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Established Member
Posts: 27
Registered: ‎08-27-2016
0

Re: FICO vs. FAKO – Share your FAKO stories

Be aware that auto lenders also pull a completely different score.  Same for mortgage lenders.  The auto and mortgage scores will give you a better score if there are auto loans or mortgages on your credit report - in good standing of copurse.  So, if a person's score is overall kinda low, if they had previous auto loans in the past that show on-time payments, then the auto loan score will be higher - and vice versa of course.

 

I'm pretty sure that you can pay a little extra on myFico to get these a la carte scores.

Established Member
Posts: 27
Registered: ‎08-27-2016
0

Re: FICO vs. FAKO – Share your FAKO stories

I agree.  Regardless what I did, I could not get my scores out of the high 500's.  I finally got my FICOs and what a drastic difference - 50 points higher.

 

I too wonder if CK keeps the lower scores even lower so that people will take advantage of those high interest cards and loans on  the site for which I'm sure they get a kickback.

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Member
Posts: 105
Registered: ‎02-07-2017
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Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

Interestingly enough, and I think this goes with the previous post, I recently found out that my "FAKO" score on CK for EQ was LOWER than my real FICO EQ score!

 

Here's how it happened. I went to PenFed last month to apply for a used-car loan. I assumed from CK that my TU and EQ scores were both in the 660-670 range. When I sat down with the loan officer, she approved my loan right away and when she gave me the paperwork, I was astounded to find out that my FICO EQ score was 690, at least 20 points higher than I had assumed it would be from CK! It makes me wonder what my actual TU and EX scores are (CK says my TU score is now 676 and USAA says my current EX score is 660).

 

UPDATE 3/21: Having applied for and been approved for Discover It, I just checked CK and I see that my FAKO EQ score has dropped from 691 to 688.

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700! $951 Cap One secured/$3000 Cap One unsecured/$800 Amazon Prime Store Card/$2500 Discover It (NEW 03-21-17)/$10k PenFed used car loan/$5k Navient student loan.

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