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Established Member
alywi
Posts: 16
Registered: ‎02-03-2012

"Good" FAKOs?

Hi,

I am in the process of rebuilding my credit score and want to check it fairly often (want to refi my home).  I had a few delinquencies (30 days past due as of Jan 2007, Aug 2005 in one credit card and 30 days past due as of Nov 2011, Aug 2010 on another).  I also had an item removed that I want to make sure was removed (a 60 days past due as of May 2010 on an electric bill).

 

Is it worth it to sign up for a service where I can pull the reports daily and monitor changes?  Are any of the FAKOs at all close to actual (Identity Guiard claims that CreditXpert is very close, within points)?

 

Any recommendations?

Thanks in advance,

ALY

Super Contributor
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: "Good" FAKOs?

Any service works but you do get what you pay for. You can generally use them to make vague guesses as to whether your credit is getting better or worse over.time. Don't ever think that they relate in any way to ficos though.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Established Member
alywi
Posts: 16
Registered: ‎02-03-2012

Re: "Good" FAKOs?

Thanks webhopper.  I looked at this thread: http://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Monitoring-Service-CMS-Guide/m-p/662549... that lists a vast number of companies.  are the ones that are listed as providing a FICO score really provide the same score that a mortgage lender would see?  Is there one place that can show me the score that a lender would see for all three reporting agencies?  

Regular Contributor
deadbishop
Posts: 130
Registered: ‎05-19-2012

Re: "Good" FAKOs?


alywi wrote:

Thanks webhopper.  I looked at this thread: http://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Monitoring-Service-CMS-Guide/m-p/662549... that lists a vast number of companies.  are the ones that are listed as providing a FICO score really provide the same score that a mortgage lender would see?  Is there one place that can show me the score that a lender would see for all three reporting agencies?  


myfico is the only place i know where you can buy your true fico score ( TU EQ only) that lenders use. EX you can not buy, however i read a few CU's in my state PA that will give you your EX fico.

another way is how i got mine is have a mortgage place pull your credit to see where you are at. will cost you a hard pull.it was worth it for me cause need to know what need to be done to get a mortgage in 2 years.

Bankrupcy 7 Filed 2/20/2012
Discharged 6/18/2012
FICO as of 7/6/2012
TU 630 Classic (04)
EQ 641 FACTA Beacon 5.0
EX 607 Fair Isaac (ver. 2)

Super Contributor
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: "Good" FAKOs?

Yep I agree with deadbishop. I actually wouldn't let them pull all three though.

I would buy the ones from here as the kit sold here gives a lot of great info besides.just the score.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Super Contributor
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: "Good" FAKOs?

I plan on buying the kit before I apply for a mortgage refinance in August. Even the scores sold here are based on an algorithm that has now been changed slightly. So the ones sold here will be a little different than what your lender pulls but they should be fairly close.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: "Good" FAKOs?


deadbishop wrote:

 

myfico is the only place i know where you can buy your true fico score ( TU EQ only) that lenders use. EX you can not buy, however i read a few CU's in my state PA that will give you your EX fico.

another way is how i got mine is have a mortgage place pull your credit to see where you are at. will cost you a hard pull.it was worth it for me cause need to know what need to be done to get a mortgage in 2 years.


You can buy the same Equifax score sold here (Beacon 5.0) directly from the Equifax website but you have to be very careful because they also sell their own "Equifax Credit Score" which is not a FICO score and is not used by any lenders.

 

You can find an EQ FICO here: https://www.econsumer.equifax.com/otc/landing.ehtml?^start=&companyName=mtbk_esn3r

Established Member
alywi
Posts: 16
Registered: ‎02-03-2012

Re: "Good" FAKOs?

Well, I just purchased the myFICO scores for the Equifax and TransUnion reports.  Why is it that both of these companies list one medical collection under different company names?  Is that grounds for a dispute?


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