General Credit Topics

[JPersat]

I did the whole quizzle thing (quicken loans) and it gave me a 617. When a lender pulled my FICO score she said it was at a 565. Why the big difference?

[marty56]

Is Quizzle a FICO score?  I never heard of them.

Also which CRA did they pull.  If it was TU, it could be TU98 vs TU08.

[JPersat]

I believe it was experian.

[MarineVietVet]

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JPersat wrote:
I did the whole quizzle thing (quicken loans) and it gave me a 617. When a lender pulled my FICO score she said it was at a 565. Why the big difference?

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Hello and welcome.

The score you get from Quizzle is not a FICO score. It's what we call a FAKO (or non-FICO) and is therefore worthless. The lender has access to all true FICO scores. From the CMS Guide here onsite:

Quizzle.com  -  FREE to $25.00/mo  -  FAKO (CE Score)  -  There is a free aspect to this service where you can pull your EX report and FAKO twice each year, as weell as have the ability to pull extra EX reports at $7/each. As an add-on, you can subscribe to their monitoring service starting at $15/mo called "Level One". Under this plan, you can pull a new report and score monthly and it provides monitoring of your EX report. For $25/mo, you have access to "Level Two" which includes the same as Level One but adds in ID theft insurance. The FAKO score offered is called a “CE Score” and developed by CE Analytics.  Updated 2/23/2012

[JPersat]

Thanks! Needless to say I unsubscribed from their service!

[Walt_K]

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JPersat wrote:
Thanks! Needless to say I unsubscribed from their service!

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It's still a useful service to get another peek at your EX report every six months, just ignore the score.

[2NE1]

@Walt_K are you saying that one can pull an EX report (for free) every six months? cause I signed up around January and won't update it unless I pay.

[Walt_K]

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2NE1 wrote:
@Walt_K are you saying that one can pull an EX report (for free) every six months? cause I signed up around January and won't update it unless I pay.

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Yes.  I haven't been there in a while, but unless they have changed things, they let you have a free update every 6 months.

[Sammie08]

"The score you get from Quizzle is not a FICO score. It's what we call a FAKO (or non-FICO) and is therefore worthless. The lender has access to all true FICO scores."

OK, but that doesn't explain the difference between FICO and CE Analytics.  Obviously, I don't expect you to reveal the formula used to calculate FICO, but clearly different things are being taken into account.  Can you shed some light on the differences?  Seems odd that one person's scores can vary so much, given that there's only one data set to go on...

[llecs]

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Sammie08 wrote:

"The score you get from Quizzle is not a FICO score. It's what we call a FAKO (or non-FICO) and is therefore worthless. The lender has access to all true FICO scores."

OK, but that doesn't explain the difference between FICO and CE Analytics.  Obviously, I don't expect you to reveal the formula used to calculate FICO, but clearly different things are being taken into account.  Can you shed some light on the differences?  Seems odd that one person's scores can vary so much, given that there's only one data set to go on...

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That's hard to figure out with Quizzle because you can't pull whenever you want (e.g. daily) like you can with FICO. In studying FAKOs, the differences between FICO and FAKO include info like:

-inquiries being scored for 2 yrs vs. FICO's one.

-inquiries not being ignored for duplicate apps for car, SL, and mortgage loans.

-some FAKOs score CLs; you can lose points if you have low limit CCs...not so with FICO.

-some FAKOs ignore AU accounts.

-some FAKOs heavily score installment util unlike FICO.

-some FAKOs will ding you for not having an account each for mortgage, auto, personal loans, etc. FICO views them the same.

-some FAKOs forgive high util; not so with FICO.

-some FAKOs count collections into your history.

-Some FAKOs and FICOs count baddies differently.

-FAKOs don't use scoring buckets.

-FAKOs don't have FICO's score range of 300-850.

-and many more...generally speaking. Each FAKO is different.