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Valued Member
Posts: 38
Registered: ‎06-06-2008
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how accurate is freecreditreport.com

how comparable are the scores on freecreditreport.com to our fico scores ???

Moderator
Posts: 16,481
Registered: ‎07-14-2009
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Re: how accurate is freecreditreport.com


dfitzg wrote:

how comparable are the scores on freecreditreport.com to our fico scores ???


The reports are fine but the scores (and advice given about scores) are useless. They can't be compared in any way to FICO scores. 

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Epic Contributor
Posts: 20,290
Registered: ‎03-19-2007
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Re: how accurate is freecreditreport.com

I wont single out any specific commericial vendor of credit reports, but they are far, far from being the same.

The only thing that is accurate is  your credit file, recorded with each CRA.

Anyone who sells consumer credit reports has acess to your credit file data, but their  credit report is their condensation and formatting of your credit file data into any format or content of their choice.  The FCRA simply does not regulate credit reports.

It, in my mind, is not as much about the accuracy of any CR you purchase, but more about its completeness.  They routinely intermix data from totally different portions of your credit file, and mislead one into thinking that a debt collector, for example, posted updates to your OC account.  That cannot happen, but commercial credit reports blur that distinction, and thus are often more harmful than helpful.

The ONLY consumer credit report I would every rely on is the government-santioned compliance you get, once a year, at annualcreditreport.com.

 

New Member
Posts: 5
Registered: ‎02-01-2011
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Re: how accurate is freecreditreport.com

I have a freecreditreport.com account and the information on there matches that seen elsewhere.  Freecreditreport is an Experian operation I believe and they generally pull just from Experian unless you pay for a 3 bureau.

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Posts: 16,481
Registered: ‎07-14-2009
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Re: how accurate is freecreditreport.com


ColoradoS14 wrote:

I have a freecreditreport.com account and the information on there matches that seen elsewhere.  Freecreditreport is an Experian operation I believe and they generally pull just from Experian unless you pay for a 3 bureau.


Yes the information in the reports is accurate but just to make it clear once again the scores from FCR or the Experian website are not FICO scores. Plus ignore the advice given at these places. It is often counter productive to what actually needs to be done to improve scores.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
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Re: how accurate is freecreditreport.com

[ Edited ]

freecreditreport.com does not provide FICO scores - the score they're handing out is a PLUS Score - a "credit score" that lenders don't use.

Non-FICO scores are generically called FAKO scores on this site because they are not the scores your lenders will see.

 

It can be pretty dang frustrating - especially if you shelled out cash hoping for a FICO score, only to get a PLUS score.

 

 I used to get fako PLUS scores from CCT and was pulling them when we did our mortgage app. That allowed us to compare all three PLUS and FICO scores for both DH and I - so six scores altogether. I also subscribed to ScoreWatch and get FICO EQ score updates that I compared with my ongoing CCT fako PLUS scores.

When we compared scores, they were all over the place. DH's PLUS EXP score was his highest, his FICO EXP score was his lowest.

Mine was converse; my PLUS EXP score was my lowest and my FICO EXP score was high.

DH's PLUS score range between the three CRA's is less than 10 points. His FICO scores cover an almost 90 point range.

When companring FICO to PLUS, some of our scores were relatively close, some were 100 points off.

When my FICO went up, my PLUS did't. When my PLUS went up, my FICO went down. No pattern. No nothin'.

"The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way. This is important because lenders don't use FAKO scores; they almost always use FICO. So it does you no good to know a score that a) isn't correct, b) won't be considered by lenders."

Experian is fairly straight forward in saying, "The Experian-developed PLUS Score model is a consumer-focused credit score." That means it is a product designed to sell to consumers. It is, in short, a cash cow. Because it is not designed to mirror FICO - but is designed as a consumer tool, it has differing criteria. That is also why the advice given along with PLUS and other FAKO scores is faulty when applied to FICO scoring. Following FAKO advice can, and does, lower FICO scores.

Hope that's helpful!

Just puttin' syrup on something, don't make it pancakes.
New Contributor
Posts: 66
Registered: ‎02-01-2011
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Re: how accurate is freecreditreport.com

Yeah I know that my actual FICO scores are way lower than my FAKO scores. I was surprised when I pullled my actual FICO scores and seen how low they really were. I have a lot of work to do to try and rebuild my credit.


Starting Score: CK 680/ TU FICO 640/ 684 Credit Sesame
Current Score: CK 680/ June 2011 TU 640 FICO/ 684 Credit Sesame
Goal Score: 700


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Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
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Re: how accurate is freecreditreport.com


Tmac7631 wrote:

Yeah I know that my actual FICO scores are way lower than my FAKO scores. I was surprised when I pullled my actual FICO scores and seen how low they really were. I have a lot of work to do to try and rebuild my credit.


True - but it goes both ways.  FAKO's can come in a little or a lot higher; or a little or a lot lower:smileymad:

 

When a FAKO moves up, a FICO can move down or not at all, or up;

when a FAKO moves down, a FICO can move up or not at all, or down; and lastly

if a FAKO doesn't move, a FICO may move up or down, or not at all.

Just puttin' syrup on something, don't make it pancakes.
Valued Member
Posts: 104
Registered: ‎06-07-2010
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Re: how accurate is freecreditreport.com

I have been on myfico.com for awhile and TOTALLY did not realize the FICO vs. FAKO dinstinction. I am soooo glad I just stumbled accross this post.

 

Soooo, I've been paying Experian at freecreditreport.com for over a year now for monthly reports and scores... honestly, I don't pay too much attention to the score (mind is sadly low now) but have used it as a resource for knowing what items lenders will see on my credit reports. Here are 2 questions:

 

1) Are the items listed on the credit report provided by freecreditreport.com still the accurate items a lender would see if they pulled my account?

 

2) If the FAKO score is not the real score a lender would see, how can I get my real FICO score that lenders will see? Here at myfico.com???

 

Thanks!


Starting Score: EX 516 TU 565
Current Score: EX 514 TU 573
Goal Score: 620


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Moderator
Posts: 16,481
Registered: ‎07-14-2009
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Re: how accurate is freecreditreport.com

[ Edited ]

MBOhio wrote:

I have been on myfico.com for awhile and TOTALLY did not realize the FICO vs. FAKO dinstinction. I am soooo glad I just stumbled accross this post.

 

Soooo, I've been paying Experian at freecreditreport.com for over a year now for monthly reports and scores... honestly, I don't pay too much attention to the score (mind is sadly low now) but have used it as a resource for knowing what items lenders will see on my credit reports. Here are 2 questions:

 

1) Are the items listed on the credit report provided by freecreditreport.com still the accurate items a lender would see if they pulled my account?

 

2) If the FAKO score is not the real score a lender would see, how can I get my real FICO score that lenders will see? Here at myfico.com???

 

Thanks!


1. Yes the reports are accurate as far as I know.

 

2. No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO. I suggest you do an internet search for "myfico discount codes" to save a little money.

You can also purchase your Transunion score at www.transunioncs.com. (This is no longer true) At www.equifax.com EQ will still sell you an EQ FICO score but you need to look very, very hard.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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