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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? )
Established Contributor
Posts: 1,008
Registered: ‎07-27-2015

Re: FICO vs. FAKO – Share your FAKO stories

Mint.com's FAKO score has me at 646. They use Equifax which has me at 608 FICO.

 

Cap1's Credit Tracker has me at  629. That is based on Transunion which has me at 585 FICO.

 

Wisepiggy.com also uses Transunion and has me at 633.

 

Credit.com has me at 627. It's Experian (I think) which has me at 590 FICO.

 

Thankfully, I loooked at my true FICO scores before going off and trying to do much with credit. I will be needing a car soon and will wait until my scores get a little higher. 

 

Thanks MyFICO!

Ch7 Discharge 3/15: Goal: 700 Current FICO:Equifax: 674(608) Tranunion: 664(585) Experian: 679(590)
Regular Contributor
Posts: 152
Registered: ‎04-02-2015

Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

I checked my FAKO at CreditKarma before going in for a car purchase recently.  My TU socre there showed 698, I mentioned this to the FI guy before he ran my numbers.  He of course had to run them anyway, he came back with a TU score of 696 and he was impressed I was so close.  That was still a good enough score for him to bump me to the best possible lease terms as I was a repeat buyer there so it worked out great for me anyway.

 

I recently started using CCT to compare numbers and CK is farther off, but I've had several changes and new cards in my profile in the last month so they are all trying to keep up.  I'll know better in a month or so how they compare.

Community Leader
Super Contributor
Posts: 7,632
Registered: ‎06-07-2013

Re: FICO vs. FAKO – Share your FAKO stories

Back in the old days, got credit scores from equifax and transunion as part of credit report purchase. They were.both higher than my fico score. Both FAKO's were in 600s. Both FICOs were in 500s. I applied for Barclays apple rewards and Discover it. Declined for both.

Since then, I obviously have accurate FICOs in the 700s. Having a secured installment loan helps cushion against minor fluctuations. I obviously overcame the past, and have received Discover IT and Barclays Aviator (and a few other cards on my side list). Of course, I used score watch while cleaning my reports. I then tend to purchase the 3b monitoring before applying for new credit. I use credit karma and credit.com to monitor for abrupt changes in credit, those are free.

For business scoring, I am left with buying the products offered by the CRA's themselves.
Starting score EQ SW 563 April 2014, Fico 8 EQ 801, EX 794, TU 805 (April 2016)
Valued Contributor
Posts: 1,643
Registered: ‎06-05-2015
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Re: FICO vs. FAKO – Share your FAKO stories

My scores have been fairly consistent but my wifes scores have been all over the place. Funny how we have almost identical bureaus.

 

Ex:  July, 2015    !. True Identity 701-EQ, 706-EX, 710-TU

                           2. CK- 690-TU, 690-EQ

                           3. CO-683

                           4. BC-710

                           5. Discover pulled - 696-Approved for IT card-$4500

                           6. VS pulled EQ-654-Approved for $500

                           7. AKUSA FCU-TU-712-Approved for 10k

                           8. EX showed 681 off of their site.

 

 

So you can see these scores are all over the place 654-712. . Equifax seems to have the greatest variance.

 

 

My scores ranged from 670-708. Lowest was from Barclays-670. Highest from True Identity 708. I was in the 690s for both CC that I was approved for.

                       

 

 

 

 

 

 

 

 


BC Ring 11.5K, BC Arrival+ 9.5k, BC AA Aviator 4K, AKUSA FCU -10k , Comenity Blue Nile 8k, Discover 9k, Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 7.8k, Synchrony Cathay Pacific Visa 6k, PFCU Plat Rewards Siggy 18k, PFCU Power Cash Rewards 21.5 k, NFCU Go Rewards 24k , NFCU Flagship 31.5k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $3250, Target 1k, BLIS PAY 5k, Pay Pal 1k, Synchrony Virgin America 4k, 200k total available credit. Utiliz-5% Current FICO EQ-692, EX 708 TU 705 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Super Contributor
Posts: 15,139
Registered: ‎04-22-2013
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Re: FICO vs. FAKO – Share your FAKO stories


Kelsey_H wrote:

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? )

How about stories where the lender used a different FICO version than those that were available here?

Frequent Contributor
Posts: 369
Registered: ‎04-03-2015
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Re: FICO vs. FAKO – Share your FAKO stories

In my case with credit karma 644 and with walmart fico 667. 

Scores: TU: (04/17) 698 , EX: (04/17) 692 , EQ: (04/17) 675
Cards: Walmart MC: $6,000 , Amazon Store: $6,000 , Paypal Extras $7,000 , Chase Slate: $2,000 , Discover It: $2,600 , Amazon Visa: $2,000 , Citi Double Cash $800 , Amex BCE $1,000
Valued Contributor
Posts: 2,030
Registered: ‎09-22-2014
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Re: FICO vs. FAKO – Share your FAKO stories


Kelsey_H wrote:

 

 

  1. Where did you get your FAKO score? Capital One and credit karma
  2. Which FAKO score did you receive and from which bureau? Transunion
  3. Where did you get your genuine FICO® Score? Discover, Barclay, and Myfico
  4. Which FICO® Score did you receive and from which bureau? Discover/Barclay : Transunion,  Myfico : all 3
  5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful) Credit Cards
  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? ) When Capital one's score didn't match with Discover's score. Once I realized it was Fako score, I just don't bother with it anymore.

 

Senior Contributor
Posts: 8,517
Registered: ‎06-05-2013

Re: FICO vs. FAKO – Share your FAKO stories

[ Edited ]

Even with FICO's the specific scoring model and CRA matter.  It does no good, for example, to rely on a Transunion FICO 8 when a creditor is using an Experain FICO 2.

Senior Contributor
Posts: 3,850
Registered: ‎05-24-2015

Re: FICO vs. FAKO – Share your FAKO stories

1. Credit Karma/Credit Sesame

2. TransUnion and Equifax

3. Prior to joining membership here, I got my TU from capital one and Experian from Commerce Bank

4. I don't know which one they use, I assume 08, experian???

5. My first impresion was great. It still is great. Don't get me wrong, one is far superior to the other, but they both have uses. I feel like everyone should be able to have these everyday for free though. You shouldn't have to pay, to play the game.  I figured out it was different when I read up about it here.  My fako score was always close enough for me. I obtained half of my current cards with a fako.  Now that I am going for higher score, I am taking things more seriously, and obviously wanted a daily score of experian too.  Can't take chances, and having a score of 690, vs 705, can be the deciding factor for some lenders. I have actually found that my real fico scores are higher than my fakos.

EQ 730, TU 730, EX 720. INQs EQ-2, TU-13, EX-12 AAOA 4yrs Util 3% Inspiration: Themanwhocan's Cash Back Charts

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