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Valued Contributor
Posts: 1,346
Registered: ‎04-15-2011
0

Paid FAKOS Bank FAKOS, FICO FAKOS.. no kiddin

Great article for those that do not know as we do here, that all scores are not created equal.  I have yet to see something that could be considered an "across the board score" for anything myself.

 

We still don't know what the bank sees as a score until we're hit with an HP.  I love how in the article they said: "Consumers should correct for this by shopping around for credit. Lenders offer different loan terms, and consumers should look for the best option, the consumer bureau said."

 

http://www.huffingtonpost.com/2012/09/25/cfpb-credit-scores-consumers-lenders_n_1913585.html

 

Valued Contributor
Posts: 2,039
Registered: ‎01-24-2012
0

Re: Paid FAKOS Bank FAKOS, FICO FAKOS.. no kiddin

This is one reason why I think it is a waste of money to buy scores. The score you see may not be the one the lender sees so what you just bought is useless. Plus there are a plethora of ways to obtain a score for free.

Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Paid FAKOS Bank FAKOS, FICO FAKOS.. no kiddin


navigatethis12 wrote:

This is one reason why I think it is a waste of money to buy scores. The score you see may not be the one the lender sees so what you just bought is useless. Plus there are a plethora of ways to obtain a score for free.


True, but the score you see should be a ballpark figure of what the lender will see. (YMMV of course)

 

I still prefer to see my FICO's when I can, I cant help it Smiley Very Happy

 




EQ FICO 548 3/3/16
Moderator
Posts: 14,051
Registered: ‎04-15-2011
0

Re: Paid FAKOS Bank FAKOS, FICO FAKOS.. no kiddin

+1   Sometimes I just have to know!!!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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