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(Update Credit Scores) Trying to improve my credit

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Anonymous
Not applicable

Re: (Update Credit Scores) Trying to improve my credit


@nolamike wrote:

no it isn't and no matter how many times you stamp your little foot and chase that wont change.

This is the fourth post in an hour you have tried to make a claim that is wrong on one of my posts.

I don't know what your problem is but grow up or go away, preferably both.

 

FICO ® is a registered trademark and applies only to scores produced by Fair Issacs.

 

Any score but those produced by Fair Issacs is a FAKO.

 

They may be based on FICO models, but are not FICO ® scores.They are a knock off score.

 

Notice they do not use the "®" with the word FICO that is to make sure no one claims they are violating Fair Issacs trademarks in an unallowable manner.

 

Fair Issacs produces some 28 FICO ® scores and any creditor who pays FICO for a license to use their scores intact gets to use FICO ®  compared to every lender who customizes the FICO scoring data to match their own criteria uses plain FICO.

 

it is how copywrite and trademark law works for licensing.

 

That you want to try an argue this proves how wrong are.

 

 


I don't mean to pile on but CCT gives actual FICO 8 scores not FAKO.
Message 11 of 17
nolamike
Frequent Contributor

Re: (Update Credit Scores) Trying to improve my credit

Tel12,

 

Go to the CCT homepage and look at it .

 

Under the big pic it says modeled on FICO NOT provide FICO ® score or FICO ® 8 score.

 

just like experian sells creditworks scores modeled on FICO scores, so does CCT.

 

Look at the fine print from the lenders. If they have the ® in the FICO name you will not see language that says they have manipulated the score to their own model. They are using the actual FICO ® scoring model, but frankly most dont use the actual FICO® straight out of the box. the change the model to what their underwriting standards are, therefore the ® cannot be used legally to describe their product offering. It would be a trademark infringement on FICO intelletual property.

 

If they don't have the ® in their use of FICO it means they are selling a customized model against base FICO® data under a subscription.

 

This is why a pull for Citi Costco and Citi Best Buy will have different FICO scores they based their decision on even though they pulled both from Experian and/or Equifax. I just app'd for them both within minutes of each other. The Best Buy FICO score they said they based it on was the exact same as my TU score which is in between EQ and EX.

 

So in absolute terms if a scoring model is a FAKO if it is not an official FICO® score then those that list as FICO are also FAKOS.

 

for extra backup search MyFICO for 'where to get real fico scores" FICO will tell you point blank that MyFICO is the ONLY source for consumers to get real FICO scores. That means all the others like the score from DISCOVER are modeled on teh FICO® score but not the actual fico score.

 

the sad part about this nit picky conversation is that it comes from me telling the OP that in my opinion the best place to get real FICO scores is MyFico. I did not elaborate on any of the options meanings or other things I just lumped all others as FAKOS simply because new people are flooded with information.

 

For about three months another poster has followed me from post to post and argued with anything I said, usually over a single word in my post. I have been patient but no longer.

 

you and I know that your Experian FICO and your MyFICO FICO® can be very different. My Experian CreditWorks FICO is consistently 5 points lower than my MyFICO FICO@ for Experian. the modeling factors are different, maybe only slightly for me, but who knows for others?

 

a lot of posts here have Vantage 3.0 scores higher than their MyFico® scores yet my Vantage 3.0 scores from CK and directly from TU are 50 or more points below my MyFICO ® scores and differ between the two Vantage 3.0 sources.

 

Trying to make that clear to someone in their first steps is absurd and will generally confuse more than enlighten until they learn the lingo and gain other knowledge.

Starting Score: EQ 628 | TU 643 | EXP 618
Fico 8 12/22/16: EQ 658 | TU 682 | EXP 721
Next Goal:        700's across the board
Credit Karma:   EQ 554 | TU 551
CK 12/22/2016: EQ 637 | TU 637
Message 12 of 17
elim
Senior Contributor

Re: (Update Credit Scores) Trying to improve my credit

CCT = Fico 08 for years.

Message 13 of 17
Anonymous
Not applicable

Re: (Update Credit Scores) Trying to improve my credit

This how my CCT account shows scores I include this so anyone reading this post in the future will know that CCT scores are actual FICO 8 scores

 

CCT Scores_LI.jpg

Message 14 of 17
rmduhon
Valued Contributor

Re: (Update Credit Scores) Trying to improve my credit

@tel12 Can I have your scores? Lol
Message 15 of 17
Anonymous
Not applicable

Re: (Update Credit Scores) Trying to improve my credit


@rmduhon wrote:
CCT is a Fico, not a Fako. They are Fico 08 scores

+ 1000

 

OP,  please don't go and cancel CCT based on false info that it is not a true FICO 8, because it is. DH uses CCT, I use FICO 3B, and for a while I used both. CCT is legit. Credit Karma scores are FAKO.

Message 16 of 17
dls80
New Contributor

Re: (Update Credit Scores) Trying to improve my credit

Thank you for this info.  I was seriously confused and didnt knoiw what to believe because I hadn't signed up yet.  LOL

Message 17 of 17
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