Why are FACO & PLUS scores more generous?

[Anonymous]

Why are FACO & PLUS SCORES more generous than FICO?

Those scoring systems always give me a credit score 10-30 points higher than FICO? I understand their different scoring systems, but this pattern is consistent.

Message Edited by pjriverap on 10-19-2007 04:43 PM

[haulingthescoreup]

I have a theory which seems to make sense to women, at any rate. A lot of times, better (= more $$$) women's clothing runs in smaller sizes. If you normally wear a 12, the Giovanni del Pretenzio suit might be a 10, or even an 8. You know it's bull, but you get such a warm fuzzy that you pay extra anyway! Similarly, when you're trying to raise your scores, it does feel nice to be told that they're higher than what you see elsewhere.

Too bad this theory doesn't work for me. EQ FAKO now 85 (!) points higher, but EX FAKO is 38 points lower, and TU FAKO is 12 points lower. Obviously, the individual CRA's reward and punish credit behavior differently than FICO.

[majesty]

nice theory..... lol Does anyone know of a formula used to calculate Fako scores?

[Anonymous]

The algorithim is propriatary and coyrighted and patented and anything else you can think of - but they are DIFFERENT. - which is why the scores are different.  THE CRA's got together and tried to come up with Vantage to replace FICO (claimed their knowledg of customers behavior was better)... FICO is still the game played. 

[Anonymous]

My FICO scores are higher than the Plus and TU FAKO

[doood71]

My Fico Scores are higher than my Fakos as well.

[UnderEstimated]

I'm not sure why they're totally different, other than different formulas have to be used.

My FAKOs are also more consistant (they don't move as much as my account balances change).  They are also about 40 points higher on average.  The only fact I truly know about my FAKOs, are that they don't show all my accounts.  I have 2 vehicle loans in my name, 1 vehicle loan as a joint account.  The joint account vehicle loan doesn't show up under my FAKOs.  Also, 2 credit accounts, 1 Best Buy CC and 1 Home Depot CC do not show up.  They've been active for almost 2 years. 

FICO shows them all...  I know it's not much help, but at least you know there are differences and that FICO is the only one you can truly trust.

Message Edited by UnderEstimated on 10-20-2007 06:37 PM