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FICO vs. FAKO – Share your FAKO stories

Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories

FAKO's

TransUnion = Credit Karma (737), Capital One Credit Tracker (735), Discover It - says FICO, but says info is from TU (710).

Equifax = Credit Karma (742).

Experian = Credit.com (697).

 

Pulled from the Credit Bureau Web Sites: (11/23/2015)

Transunion = 737 (clean report, util 2%, no bk, no co, no public, no lates, 3 cards-Chase Freedom, Discover It, Cap One Plat, AAoa 9 mos., 4-Inq's)

( I think they used a Vantage Score Model)

Equifax = 693 (same as above - 6 Inq's)

Experian = 639 (1 - $671 Student Loan Deliq. from 1987, they will not remove, TU & EQ removed due to time, EX says that a co company reported it in 2012, so I'm stuck for the 7 year timeframe,) So, I just put a Security Freeze on Experian and now no one can pull it without my permission or pin number! All else is same as TU & EQ,, 6-inq's)

It seems 9 out 10 pull from Experian for some reason. Figures that my worst score is where everyone goes.

 

I applied for Chase Freedom with a Fako Credit Karma Fako of 630 and was approved for $1200 (7 Months Age). Then, applied for Discover It with the same Credit Karma Fako 620 and was approved for $1250 (8 Months Age). Got a Secured Capitial One Card ( 10 Months Age) to start building and at 6 months they CLI $300, for a $600 Limit. On my 6th month with Discover It, I went on-line and requested a CLI, and was automatically with a SP given a $1000 CLI.

 

Still building, but need to garden to get those Inq's off, and get some time behind me.

 

Any advise on how to continue to build effectively, please let me know.

 

 

 

 

 

Message 31 of 121
Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Pretty new to this, with only about 1 year and 2 months worth of history I haven't requested for any free credit reports yet so I'm not sure how accurate these are.. but here it is:


CK Trans: 743 EQ: 731, these scores have NOT CHANGED FOR 3 MONTHS

and the free CITI FICO + EQ monthly score: 738 (as of 10/27/15)

Message 32 of 121
New Visitor

Re: FICO vs. FAKO – Share your FAKO stories

I currently have two American Express Cards, the oldest is in connection with Costco that will go away sometime after the first of the year.  I applied a couple of months ago for a new American Express Card since my current card will end.  I received a new Blue Cash American Express card with a $20,000 line of credit.  The old American Express/Costco card also had a $20,000 limit.  Everything was fine until American Express slashed my credit limit in half, to $10,200.  No problem, other than the impact this had on my FICO score.  Their actions impacted me negatively to the tune of -25 points.  Granted, my credit score with Equifax (FICO) is still in the excellent range but had I been on the bubble, this could have been an expensive error, not caused by me.  American Express says it shouldn't affect my FICO, but we all know that is not true.  FICO assesses the information reported and makes a determination which is reflected in your FICO score.   I also understand Equifax has their own credit score which has to be purchased for $7.95, which I guess I will do to see what theirs stands.  

 

A prime example of Creditor Manipulation of the FICO Scoring system. Anyone else in this boat?

Message 33 of 121
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Typical for AX. Did the same thing to me a few years ago. In my opinion they are no longer worth dealing with esp for the average joe they appeartoonly be interested in their "highest income bracket" clients.

AX BCP 15k, (AU on ED 7k,) BC Ring 11.5K, BC Arrival+ 9.5k, BC AA Aviator 4K, AKUSA FCU -10k , Comenity Blue Nile 11k, Discover (2) 11k , Kohls-4k, CHASE Amazon Prime VS 500, BofA AK Air Siggy 9.8k, BofA Secured $500, Synchrony Cathay Pacific Visa 9k, Synchrony E-bates Visa $2.4k, 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, CO Venture 23k, 259k total available credit. Utiliz-2%, Current FICO EQ-707, EX 702,TU 715 Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 34 of 121
Valued Member

Re: FICO vs. FAKO – Share your FAKO stories

I used to work for a credit card company, won't say which, but it happened to their customer frequently. I worked in customer service and if a customer utter any number of key phrases, finacial distress would be silently indicated and credit lines decreases were soon to follow.

 

As of right now, I can only dream of that high of a credit line...lol. I'm not even sure I would have a use for that much purchasing power on a card. 


2/8/16 EQ: 523 TU: 574 EX: 494 (a long way to go)
3/10/16 EQ: 559 TU: 633 EX: 544 (on my way up)


Message 35 of 121
Established Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Hi, I have been following these boards for awhile now, but this is my first post.

 

It's nice to see people facing CK vs FICO extremes, just because then it's not just me.

 

My FICO scores (from AMEX, Barclays, and listed on letters from the banks) are in the low-to-mid 700s (roughly from a low of 715 to a high of 740)

 

CK has me currently at about 650, but I have been as low as 635 a few weeks ago, and I have never seen that score above 700.

 

I was concerned that my scores weren't very good based on what I was seeing on CK, but when the scores from the actual application for credit are 75-to-nearly-100 points higher, that just seems wrong.

Message 36 of 121
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Capital One's Credit Tracker shows me at 562

 

Merrick's Go Score shows me at 609

 

That's a big difference when you're below 620 and I want to buy a car this year Smiley Sad

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 37 of 121
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories


Ranger6591 wrote:

FAKO's

TransUnion = Credit Karma (737), Capital One Credit Tracker (735), Discover It - says FICO, but says info is from TU (710).

Equifax = Credit Karma (742).

Experian = Credit.com (697).

 

Pulled from the Credit Bureau Web Sites: (11/23/2015)

Transunion = 737 (clean report, util 2%, no bk, no co, no public, no lates, 3 cards-Chase Freedom, Discover It, Cap One Plat, AAoa 9 mos., 4-Inq's)

( I think they used a Vantage Score Model)

Equifax = 693 (same as above - 6 Inq's)

Experian = 639 (1 - $671 Student Loan Deliq. from 1987, they will not remove, TU & EQ removed due to time, EX says that a co company reported it in 2012, so I'm stuck for the 7 year timeframe,) So, I just put a Security Freeze on Experian and now no one can pull it without my permission or pin number! All else is same as TU & EQ,, 6-inq's)

It seems 9 out 10 pull from Experian for some reason. Figures that my worst score is where everyone goes.

 

I applied for Chase Freedom with a Fako Credit Karma Fako of 630 and was approved for $1200 (7 Months Age). Then, applied for Discover It with the same Credit Karma Fako 620 and was approved for $1250 (8 Months Age). Got a Secured Capitial One Card ( 10 Months Age) to start building and at 6 months they CLI $300, for a $600 Limit. On my 6th month with Discover It, I went on-line and requested a CLI, and was automatically with a SP given a $1000 CLI.

 

Still building, but need to garden to get those Inq's off, and get some time behind me.

 

Any advise on how to continue to build effectively, please let me know.

 

 

 

 

 


Discover is a true TU 08 FICO score.  What was the date the Discover score was based on?  Your score can vary daily.  Based on web research, I discovered that 83% of people experience a change in their FICO score of up to 20 pts month-to-month.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


Take the myFICO Fitness Challenge
Message 38 of 121
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories

With respect to FICO and what it's done for the credit industy I strongly believe FICO has become outdated.  The scoring model values metrics which are no longer relevant to today's credit market.  I believe this is the driver behind the switch to VantageScore and other alternatives as they've adapted to the new credit behavior.  When FICO finally realizes how the markets and behaviors have changed and alters it's scoring model they'll start to gain back more usage.


Message 39 of 121
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories


TwistedCircuits wrote:

With respect to FICO and what it's done for the credit industy I strongly believe FICO has become outdated.  The scoring model values metrics which are no longer relevant to today's credit market.  I believe this is the driver behind the switch to VantageScore and other alternatives as they've adapted to the new credit behavior.  When FICO finally realizes how the markets and behaviors have changed and alters it's scoring model they'll start to gain back more usage.


FICO is still the most widely used and have adapted the model which is why there are so many  versions.  I believe the most current version is version 9.  Lenders use FICO because it has proven to be the most accurate predictive model of risks and it's tested.  

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


Take the myFICO Fitness Challenge
Message 40 of 121