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Ok, signed up for Quizzle, good looking site, nice features. Can anyone explain however, FAKO or not, why my EX scores from CK and now Quizzle would be so out of whack with what makes sense? I know scores vary and FAKO can be quite inaccurate, but CS has me at 661 FAKO, and now Quizzle has me at 685. I do not consider these to be an accurate representation of my credit profile as I have a pretty realistic grasp on my credit situation. My profiles at all three bureaus are identical, save a HP at TU from my recent Walmart card.
Edit: said CK instead of CS
| Chase Freedom $9500 DCU Visa $10000 Capital One QS $2000 AMEX BCE $3000 | Lowe's CC $8500 WalMart CC $3100 BOA Platinum $600 AMEX Gold NPSL |
FAKO is a huge business, and everyone can make their own version as a marketing tool. Most are based of Fico but even the Fico president doesn't hae a 800 score so there's things he doesn't understand or care about either.Remember FAKO is just a guess estimation of your Fico, not that Fico is the only thing lenders use but majority of the time it's still true. Which seems like it's changing more and more these days. you only really need to know your Fico is before a big purchase. Just don't make stupid credit decisions and keep everything in check and especially if you have nothing bad on your reports knowing your score becomes irrelevant. just free credit monitoring through sites like creditsesame and creditkarma would be enough even though it's only 2/3 bureaus since they use your middle score for a mortgage all you need to really know is 2 out of the 3. Take the lower of your two scores and that's the number you should get a loan on worst case scenario, or the higher number in your best case =)
@Jutz wrote:Ok, signed up for Quizzle, good looking site, nice features. Can anyone explain however, FAKO or not, why my EX scores from CK and now Quizzle would be so out of whack with what makes sense? I know scores vary and FAKO can be quite inaccurate, but CS has me at 661 FAKO, and now Quizzle has me at 685. I do not consider these to be an accurate representation of my credit profile as I have a pretty realistic grasp on my credit situation. My profiles at all three bureaus are identical, save a HP at TU from my recent Walmart card.
Edit: said CK instead of CS
@distantarray wrote:even though it's only 2/3 bureaus since they use your middle score for a mortgage all you need to really know is 2 out of the 3. Take the lower of your two scores and that's the number you should get a loan on worst case scenario, or the higher number in your best case =)
Nice explanation of this!
Best Case Scenario:
Worst Case Scenario:
Additional Scenario:
Totally agree with focusing on low score as worst case, I guess I just don't understand how an approximation of FICO can be so off in two places. I'll be interested to see my TU08 score from Walmart when my card finally comes in the mail.
| Chase Freedom $9500 DCU Visa $10000 Capital One QS $2000 AMEX BCE $3000 | Lowe's CC $8500 WalMart CC $3100 BOA Platinum $600 AMEX Gold NPSL |
@Jutz wrote:Totally agree with focusing on low score as worst case, I guess I just don't understand how an approximation of FICO can be so off in two places. I'll be interested to see my TU08 score from Walmart when my card finally comes in the mail.
That's because it is inaccurate to say that FAKOs are an approximation of FICO scores. They are competing risk assessments, some marketed to lenders, some not. They purposefully include different information and/or weight information differently. So while they are both trying to predict risk, a FAKO is not necessarily meant to be a reverse engineered FICO. Especially when you consider that some work on different score ranges. In those circumstances, you would actually expect the scores to be different because the same numerical value would not equate to the same credit risk.
Hey everyone, still fairly new here so bare with beginner questions.....after reading all these I was thinking about getting a walmart card so I can get a free TU monitoring service. But I'm reading all over their credit app on the website and it's not telling me the service comes with it. Is it just a given with ANY walmart credit card? Or a specific one? I see a walmart discover and a walmart credit card. Should I be applying online or in store or what's the best way to take advantage of the offer.
Thanks!
@crew99 wrote:I was thinking about getting a walmart card so I can get a free TU monitoring service. But I'm reading all over their credit app on the website and it's not telling me the service comes with it. Is it just a given with ANY walmart credit card? Or a specific one? I see a walmart discover and a walmart credit card. Should I be applying online or in store or what's the best way to take advantage of the offer.
Walmart cards offer a free TU08 credit score monthly but not TU report monitoring. For daily monitoring of your TU report, sign up for Credit Karma. I use Walmart + Credit Karma together to keep track of my status with TransUnion.
The free TU credit score offer applies to both the Walmart store card and the Walmart Discover card. To opt-in, you need to sign up for paperless statements. When you do, there will be a link when you log in saying "Check Your FICO Score Now". Everyone gets their score at the same time, on or around the 8th of each month.
Thanks brother7 for the detailed response!
Is there advantage getting one walmart card vs the other? Or most ppl just get it for the free TU?
I kinda want to apply just to start monitoring......but from creditkarma I have a 658, even though my equifax is a 696. A little hesitant to apply in fear of being denied and losing an inquiry....what do you guys think?
and what is CS?
The Walmart store card is accepted ONLY at Walmart.
The Walmart Discover card is accepted whereever Discover cards are accepted. For that reason (wider acceptance), I chose the Walmart Discover card.
CS = Credit Sesame
It gives you a monthly FAKO, not FICO. Experian National Equivalency Score (360-840). There are no daily updates, nor much detail about what's on your report. So people basically log in every month to check the EX FAKO. I guess it's ok for tracking trends but not much else. The monthly updates normally happen early in the month, 4-6th. My December update came out today... down 34
@brother7 wrote:The Walmart store card is accepted ONLY at Walmart and Sams Club.
The Walmart Discover card is accepted whereever Discover cards are accepted. For that reason (wider acceptance), I chose the Walmart Discover card.
CS = Credit Sesame
It gives you a monthly FAKO, not FICO. Experian National Equivalency Score (360-840). There are no daily updates, nor much detail about what's on your report. So people basically log in every month to check the EX FAKO. I guess it's ok for tracking trends but not much else. The monthly updates normally happen early in the month, 4-6th. My December update came out today... down 34
Fixed!