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FICO vs. FAKO – Share your FAKO stories

New Member

Re: FICO vs. FAKO – Share your FAKO stories

If I may ask, is your original score an actual FICO or is it a Fako?  628 FICO from a 509 FICO is  significant, and yes, you are doing something right.  628 FICO from a 509 Fako is not that significant, because you are no longer comparing apples to apples. That means your increase does not indicate you are doing something right, but that you may be comparing 2 completely different things.

 

My feeling on Fako is that if the Fako rises from a Fako, then my FICO is also probably rising.  Any place I apply to is going to use their own standards/algorythm anyway.  My goal is an increase from like to like.


MsChelley wrote:

I contacted Lexington Law a few days ago to see if they could help me with my credit. They told me my credit score was 567. I just found out yesterday that my actual TU score is 628! Smiley Happy They probably give people low FAKOs to get them to feel like they really need help; turns out I'm doing something right all on my own!


 

Message 11 of 106
Established Member

Re: FICO vs. FAKO – Share your FAKO stories

I had been using CreditKarma since late april and had seen my scores raise steadily since then. I paid off a few old collections and disputed them directly through their website and two were taken off within a week! So as of today at CK my scores are 646 and 638. This had me super excited and thinking I was that much closer to my goal of buying a house in the next year.

Well, haha, not so fast. I signed up here and got my three scores: 577, 583, and 603..... SUPER DISSAPOINTED. HOW ARE THEY SO OFF?! But with using myfico now i see that I have another past collection that I couldn't see with CK and I will be taking care of it asap. I like CK only for the fact that the disputes were so easy and that at least I could see some movement in my scores, even though they are misleadingly high, AND I got two CC based off their recommendations.

I'm excited to be part of this community of such helpful and encouraging people at myficoSmiley Happy (even though I was super bummed upon seeing my actual FICO scores).

Message 12 of 106
Former myFICO Employee

Re: FICO vs. FAKO – Share your FAKO stories

Hi everyone,

 

First of all, thanks to all of you who shared your credit confusion stories. It’s been incredibly valuable to hear about your experiences with other types of credit scores and how your FICO® Scores compared.

 

We think it’s extremely important for people to understand the difference between FICO Scores and non-FICO Scores in order to manage their financial health effectively. Your stories are a critical part of helping people understand the difference.

 

I’m excited to announce the launch of FICOScore.com and FICOScore.com/stories! FICOScore.com is a purely educational website providing educational content about FICO Scores. FICOScore.com/stories is a community-driven sister site that allows people to read credit confusion stories, like and share stories they find useful, and submit their own non-FICO score experiences.

 

You’ll notice that we used some of the stories seen here. If you have any concerns or would like yours edited, please don’t hesitate to contact me via PM.

And for those of you who haven’t posted, I encourage you to go to FICOScore.com/stories and share your credit confusion experiences.

Message 13 of 106
New Contributor

Re: FICO vs. FAKO – Share your FAKO stories

I was not able to get a fico score !! But according to ck my scores are tu 602 eqx 600 no score from exp.. Whats next???
Message 14 of 106
Senior Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Here's a small, interesting data point. When my installment loan balances reported dropped way down, my TU Fico 8 jumped from 784 to 819. My Vantage 3.0 TU score of 758 didn't move. My EQ Fico 8 score jumped from 719 to 746. Vantage 3.0 EQ score of 733, you guessed it, didn't move.


Gardening until tomorrow.
Message 15 of 106
Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Wally Card FREE FICO score by transunion - 636

Credit Karma - Transunion - 682

Credit Karma - Equifax - 682

Message 16 of 106
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories

l will share the fact that the difference between my FICO scores and non-FICO scores is nothing short of dramatic.  As indicated below, my FICO 8 scores are basically in the 735 range.  My FiCO 4 scores around 725.  Some of the auto-enhanced and bankcard scores are in the 750-760 range.  My Vantage 3.0 scores are 810 and 811 (TU and EQ) - obviously a completely different range than my FICO scores.  This could sure mislead the average consumer in thinking that their scores that lenders use are much higher than they truly are.  

 

One thing about my Vantage 3.0 scores that really seems odd is that their webpage indicates that my scores are "95% Higher Than All CreditKarama Members".  Having a foreclosure and credit card settlement about 3-1/2 years ago sure makes it seem odd that I would supposedly be higher than 95% other CK users.  Go figure....

 

 

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Dec 2017: EX8: 736; EQ8: 736; TU8: 747; EQ04: 734 FICO 9 Scores about 50 points higher
In My Wallet: Discover $63.7K; Cap1 Venture $36.7K; Amex ED $38K; Amex Optima $12.5K; Amex Delta Gold $15K; Cap1 Plat $8.4K; Barclay $7K; Citi TY Pref $13K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $209.8K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 17 of 106
Established Member

Re: FICO vs. FAKO – Share your FAKO stories

My fico is a subsidary of fair isaacs lending so the my fico.com you go to and get your (true fico) is not your true fico, it is not the score lenders see, if you truly want the score lenders see you will have to ask the person that you applied for credit to and ask them to show your real score, so my fico are fakes also

Message 18 of 106
Valued Member

Re: FICO vs. FAKO – Share your FAKO stories

I pay for Experian's credit monitoring service, directly through Experian.com.  Is that giving me a FICO or a FAKO?  I also have free CK for the other two, which I understand are FAKO's.  Is there a good place to get all three real FICO scores in one place?  If so, I'll ditch Experian's $21.95/month service and get whatever the best one is.  Thanks in advance!

Message 19 of 106
Moderator

Re: FICO vs. FAKO – Share your FAKO stories


Jrs wrote:

My fico is a subsidary of fair isaacs lending so the my fico.com you go to and get your (true fico) is not your true fico, it is not the score lenders see, if you truly want the score lenders see you will have to ask the person that you applied for credit to and ask them to show your real score, so my fico are fakes also


This information ^^^is not correct.  There are many different versions of FICO scores and different lenders use different versions.  If you are trying to compare the FICO 8 version to the FICO mortgage scores, then you will see different results because they are different algoriums. Find out first what FICO version your lender is using for the credit you are seeking and then pull that score.  It doesn't help you to look at a different algorium and assume your score will be the same.

Message 20 of 106