DIFFERENT REPORT/GRADING STANDARDS - EXPERIAN vs. FairIsaac

[Anonymous]

On March 31, 2009, I purchased my TUC and EQ fico/credit reports.  The results did not change from the last time I ran the reports in early February...i.e.  TUC (806), Equifax (813).  My Experian score before Experian was eliminated as a purchase was (832).  As everyone knows, the Experian FICO socre can no longer be purchased through MyFico. 

On the same day, March 31, 2009, I also purchased my Experian credit report/score directly from Experian.  I was shocked to see a credit score of 782...a fifty point drop.  I know, I know, you are saying, 782 is a great score.  Well, not so when you are used to it being in the 800's and there wasn't one change in my credit activity to have it drop by so much.

The question to be asked, are there different reporting standards to how Experian grades one's credit and how a third party agency, such as FairIssaac scores credit?

[llecs]

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Mr_Grino wrote:

On the same day, March 31, 2009, I also purchased my Experian credit report/score directly from Experian.  I was shocked to see a credit score of 782...a fifty point drop.  I know, I know, you are saying, 782 is a great score.  Well, not so when you are used to it being in the 800's and there wasn't one change in my credit activity to have it drop by so much.

The question to be asked, are there different reporting standards to how Experian grades one's credit and how a third party agency, such as FairIssaac scores credit?

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The score pulled directly from Experian is not a FICO score. It is a FAKO score called a PLUS score. The formula is totally different as is the score (tops at 830 I believe). Ignore that score. Regretfully, there are no other places on the web you can pull your EX FICO score.

[Anonymous]

Thanks for the clarification.  I've heard of FAKO scores but I never new what they were.  So then, are scores reported by the three credit reporting companies considered FAKO scores?

Lastly, you wrote,  "It is a FAKO score called a PLUS score. The formula is totally different as is the score (tops at 830 I believe). Ignore that score".  What score should I ignore...the FAKO score?  Isn't this the score that is pulled by lending and other agencies?

Thanks!

[llecs]

The scores pulled directly from TransUnion.com or Experian.com are not FICO scores at all, but rather FAKOs. However, FICO and EQ partnered together. The score pulled from Equifax is a true FICO score and exactly matches the score pulled on this site if pulled on the same day.

Ignore the FAKO scores, like the PLUS score. A vast majority of lenders use a FICO score. I can only think of one lender that uses a PLUS score and that is prosper.com.