@Anonymous wrote:
Are these scores your true FICO scores ? Anyone have any info on the scores being true or how accurate they are ? Also how often can I check these scores ? For instance I'm waiting to see when my utilization has been reported and as of today it hasn't on one of my cards. Can I check daily ? Thank you.
Have you looked on the site and read its FAQ?
From the front page:
https://www.creditchecktotal.com/
Credit score calculated based on FICO Score 8 model
THe FAQ can be found at:
https://www.creditchecktotal.com/faqs
CCT is a very popular topic here so don't overlook existing discussions as a resource.
Any score is accurate but only for its own model. You need to consider both the specific scoring model and the CRA when referencing any score. You also need to consider the relevance of the scoring model and CRA combo to specific creditors/products. They do not all use the same CRA. They do not all use the same scoring model. You cannot just assume one model to be "accurate". You really need to consider relevance. Tools like the Credit Pulls Database (Google to find) and existing discussions here can help you determine which model/CRA a given creditor/product uses in its decision.
Different models evaluate report data differently and can have different scornig ranges so you cannot use a score generated by one model to determine a score generated by a different model. As incidated above, CCT provides FICO 8's for the 3 major CRA's. A TU FICO 8, for example, is a TU FICO 8 regardless of source, You can get TU FICO 8's from CCT, myFICO, Discover, Barclarycard, etc. However, you cannot use the FICO 8's from CCT to determine what your scores are with other models including other FICO's. FICO doesn't have just one model. See also the Understanding FICO Scoring subforum and its stickies for info on the various FICO models used by creditors.
Scores and models are also very common topics. Again, don't overlook existing discussions or the stickies in each subforum.
@Anonymous wrote:
For instance I'm waiting to see when my utilization has been reported and as of today it hasn't on one of my cards.
Most cards report on statement date but there are some that report at a fixed point. US Bank is one example -- they report on the last business day of the month. Again, you can refer to prior discussions if you're not sure when your cards report.
Keep in mind that the CRA's can take several business days to update after a creditor reports.
If you want to check daily on reported balances then you want daily report pulls. Don't rely on just score. CCT is the wrong tool for the job if you want daily pulls on all 3 of the major CRA's.
@Anonymous wrote:
I'm pleasantly surprised as to what my scores are compared to my Fako scores. My FICO scores for creditchecktotal.com are all about 30 points higher than my Fako scores. While I know that Fako scores aren't accurate I'm pleased that my FICO scores are 690/702/697 and according to my Fakos I've been hovering around 660s.
You cannot compare different models. Again, different models evalute report data differently. You should expect different results when the scoring algorithms differ. It's not simply a matter of FICO versus FAKO. Even FICO models do not generate the same scores with the same report data. If you want to know what your TU FICO 8 is then you have to pull your TU FICO 8. You cannot use a TU VantageScore 3.0, EQ FICO 8, etc to determine a TU FICO 8. You must pull the specific score you want to see.
All models are accurate. Accuracy is not about how well a model mimics another. Most models are not intended to mimic each other. FICO created its models to serve different purposes. VantageScore is not intended to mimic FICO models. Again, consider specific model/CRA combos and their relevance. If a creditor/doesn't use a model/CRA combo in its decision then the model/CRA will not be relevant to its decision. Do not assume that you can rely on just one model for all creditors and products out there.
You can certainly use whatever scoring model you want to track your credit progress but you need to look at large trends versus specific data points. Better yet, learn how credit is assessed and evaluate your own reports. Any scoring model uses the data in a report to generate a score. Good reports will lead to good scores.
This is only relevant to FICO scoring but it is a good starting point and gives you some idea of how FICO assesses your reports.
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
Definitely read the stickies and threads around here and you'll get the hang of it in time.
