NooOOOooo Waaaayy!!!

[longtimelurker]

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@jennylocha wrote:

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@drewrico wrote:
I'm 90% sure the credit scores you buy here are not accurate either.

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WHAT?! Now thats just too much! Bite your tongue! I rely on MyFico to get the best scores for my overall credit portfolio. If I find out that its not accurate, I don't know what I'll do..... *sigh*

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The EX and EQ scores here have some value (the EQ score here is still the most commonly used by mortgage lenders, the EX is one that lenders might be moving to) but the TU one is old and is used by practically no-one, and on any other site would be called a FAKO.

[improvingmycredit]

+1 @longtimelurker
It is a necessitity to be as spot on regarding knowing your actual FICO scores because so many institutions we rely on utilize them. The FICO scores acquired here are the closest thing to what the various lenders use to determine credibility. I'm a big proponent of "it's what's on your report" not your score that matters. If everyone focuses on this- the scores come along just fine. Knowing the general criteria of how the score is determined to focus on the "right" aspects on the CRs is the way to go.

[pizzadude]

I've had the TU98 score from myFICO match pulls from two of my creditors ~ NFCU and another small credit union. So it is still used by lenders.

[longtimelurker]

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@pizzadude wrote:
I've had the TU98 score from myFICO match pulls from two of my creditors ~ NFCU and another small credit union. So it is still used by lenders.

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Did they pull TU98?   Some scores will match anyway, just like FAKOs sometimes do.

[myjourney]

Fico, Fako iin this case it just says either way your moving in the right direction....upward 

[takeshi74]

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@jennylocha wrote:

How accurate is this program provided by Amex? 

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It's not. However, the value in any CMS is monitoring your credit over time -- not just one particular snapshot.

[lhcole77]

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@jennylocha wrote:

So you're just going to kill my dream, huh? I am so canceling this service then. I'm so mad right now, I thought it was accurate because it provided me with my credit report and everything!

Total Epic FAIL!

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I think having a CMS and checking all three reports and scores (even if they are FAKOs) is very valuable IF you are rebuilding and/or wanting an easy way to monitor.

I started with WF CMS (CreditXpert) about 15 mos ago and watched my scores steadily increase from 598-615 up to 730-779. Well worth the investment.

But, I've made sure to check my FICO score before I apply for new credit. So far, so good.

And congrats on breaking the 700 mark, even if it's a FAKO. From my experience, my FAKO scores were not actually that far off from FICO, sometimes within 2-7 pts.

[LS2982]

CONGRATS anyway your moving up OP!! 

[pizzadude]

@longtimelurker ~ yes they both provided me with a TU FICO last year, which matched up with my TU score pulled from myFICO.

[nyancat]

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@drewrico wrote:
I'm 90% sure the credit scores you buy here are not accurate either.

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They're ALL accurate for what they are. The score you buy here is a "true FICO" but is no closer to what a lender sees than a Credit Karma or similar score - because the FICO product they sell you and the products they sell banks aren't the same model.