Credit Karma updated thier mobile app on the iphone today!! Now the app shows both Transunion and Equifax scores.
@mmaslowsky wrote:
Would I be correct is saying that these scores are "Fako" scores? They are way lower then my scores at My FICO.
Yes they are considered Fako scores. This app is only good for monitoring credit activity on both reports
@racer-x wrote:CK is dead on myfico scores. Crazy right.
The Vantage 3.0 is being used more and more by big bank and lenders.
And like somebody said in another thread, every score/model that ISN"T being used at the time of a lender pull, could also be considered a FAKO/irrelevant.
^^^Do you mean they are using Vantage 3.0 for cc approvals? Or their own scoring formula?
They aren't using Vantage for mortgages at all and in my view - that's what's important (to me). They use FICO and not version 8 either.
Then again, I'm not running out and getting 1000 cards either. To someone else where unsecured cards are their holy grail, then it may be critical to see the Vantage 3.0.
When working on your file, work on the tradelines reporting correctly, pay on time and keep utility low when applying for additional credit. Then your score will reflect accurately. Each creditor is going to chose which scoring model they think best reflects the risk for the credit for which you apply.
I do agree with your last statement: the only scoring formula that counts is the one that the creditor actually uses to determine your credit worthyness. We can only worry about the content of our reports and sound financial management which may actually be contrary to any scoring formula. 
