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FICO vs. FAKO – Share your FAKO stories

Re: FICO vs. FAKO – Share your FAKO stories

Up until the last two months, I only had a capital one card <1 year and a student loan for my daughter.  Nothing negative on TU but EX & EQ show a 6.5 collections.  Now I have 13 cards.  I noticed on Capitol One credit wise and Credit Karma that my scores are between 588 and 630.  This is down from upper 600's.  However on the FICO scores from Barclay, Discover, Walmart and I think CITI my fico is 689-691.  Which am I to believe?  My inquiries, new accounts and AAOA are all negatively impacting my score.

Message 61 of 106
Established Contributor

Re: FICO vs. FAKO – Share your FAKO stories


melvinmonster wrote:

Up until the last two months, I only had a capital one card <1 year and a student loan for my daughter.  Nothing negative on TU but EX & EQ show a 6.5 collections.  Now I have 13 cards.  I noticed on Capitol One credit wise and Credit Karma that my scores are between 588 and 630.  This is down from upper 600's.  However on the FICO scores from Barclay, Discover, Walmart and I think CITI my fico is 689-691.  Which am I to believe?  My inquiries, new accounts and AAOA are all negatively impacting my score.


Cap One and CK are FAKO's for sure.  Trust the FICO scores...take care.

Goal: 700's by 11/1/2015 (all baddies will be gone)



Message 62 of 106
Established Member

Re: FICO vs. FAKO – Share your FAKO stories

FAKO:

 

Discover Scorecard - 786 EX

Credit Karma           - 771 TU

Credit Karma           - 750 EQ

PenFed NG2            - 848

 

FICO 8 - 764 EX

             - 758 TU

             - 767 EQ

 

FICO 9 - 770 EX

             - 761 TU

             - 759 EQ

 

It's all game.

Message 63 of 106
New Member

Re: FICO vs. FAKO – Share your FAKO stories

I am so confused. I just got my new AmEx Blue cash preferred card. They only gave me a $2000 credit limit. On credit karma, it shows that my transUnion score is 812 add my equifax score is 819. I make around $150,000 a year and have two Chase cards with a total of around $25,000 credit limit. I have a Kohl's card with a $2000 credit limit (I think). My utilization is 0%. I use them fairly heavily but pay off before they even post.

I know that I have an old medical collections that was paid that is still on my credit report. It is two years old and was for only $217. Other than that, there should be absolutely no negatives on my credit report other than four hard pulls.

Here's where I am confused. On the Amex intro papers it said that I could get a free report from Experian. When I got it, it showed my score was only 688. Is it normal for a fako Report to be 130 points off?

Also, the experian report showed dozens of credit checks from different credit card companies that I have not even applied to. Discover has been checking it three times a month, every month. Please tell me that these are not hard pulls..
Message 64 of 106
Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories


t_jayhawk wrote:
I am so confused. I just got my new AmEx Blue cash preferred card. They only gave me a $2000 credit limit. On credit karma, it shows that my transUnion score is 812 add my equifax score is 819. I make around $150,000 a year and have two Chase cards with a total of around $25,000 credit limit. I have a Kohl's card with a $2000 credit limit (I think). My utilization is 0%. I use them fairly heavily but pay off before they even post.

I know that I have an old medical collections that was paid that is still on my credit report. It is two years old and was for only $217. Other than that, there should be absolutely no negatives on my credit report other than four hard pulls.

Here's where I am confused. On the Amex intro papers it said that I could get a free report from Experian. When I got it, it showed my score was only 688. Is it normal for a fako Report to be 130 points off? Not sure how normal it is, but it happens.  Up until recently, my TU Vantage 3 was that much lower than my FICO8.
Also, the experian report showed dozens of credit checks from different credit card companies that I have not even applied to. Discover has been checking it three times a month, every month. Please tell me that these are not hard pulls.. Those are soft pulls.

 

Message 65 of 106
Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories

So I always thought the Fico score my credit card provided was a real Fico. I've read on here that some of the ones the credit card gives are actually FAKO. I'm not even sure what it is.

 

My Amex cards give me a Fico 8 via Experian @ 812

My Citi cards give me a Fico Bankcard 8 via Equifax @ 846

 

Is that my actual Fico or Fako from my credit cards? Thanks!

 

Credit Karma I know isn't the real one. They have me at.

Transunion @ 785

Equifax @ 803

Message 66 of 106
Moderator

Re: FICO vs. FAKO – Share your FAKO stories


t_jayhawk wrote:
I am so confused. I just got my new AmEx Blue cash preferred card. They only gave me a $2000 credit limit. On credit karma, it shows that my transUnion score is 812 add my equifax score is 819. I make around $150,000 a year and have two Chase cards with a total of around $25,000 credit limit. I have a Kohl's card with a $2000 credit limit (I think). My utilization is 0%. I use them fairly heavily but pay off before they even post.

I know that I have an old medical collections that was paid that is still on my credit report. It is two years old and was for only $217. Other than that, there should be absolutely no negatives on my credit report other than four hard pulls.

Here's where I am confused. On the Amex intro papers it said that I could get a free report from Experian. When I got it, it showed my score was only 688. Is it normal for a fako Report to be 130 points off?

Also, the experian report showed dozens of credit checks from different credit card companies that I have not even applied to. Discover has been checking it three times a month, every month. Please tell me that these are not hard pulls..

Credit Karma scores are Vantage scores which are not used by lenders.  Unless and until lenders use the CK scores, it is a waste of time to review those scores. Look at CK to see your inq's and the items on those two credit reports, but don't consider their scores at all.

 

The Amex score you received of 688 is your actual FICO score (at that time). Ignore Credit Karma scores as they use a totally different algorithm than FICO scores. 

 

It is common for CK scores to be vastly different from your FICO scores as they measure different attributes in your credit report. 

Message 67 of 106
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories


t_jayhawk wrote:
I am so confused. I just got my new AmEx Blue cash preferred card. They only gave me a $2000 credit limit. On credit karma, it shows that my transUnion score is 812 add my equifax score is 819. I make around $150,000 a year and have two Chase cards with a total of around $25,000 credit limit. I have a Kohl's card with a $2000 credit limit (I think). My utilization is 0%. I use them fairly heavily but pay off before they even post.

I know that I have an old medical collections that was paid that is still on my credit report. It is two years old and was for only $217. Other than that, there should be absolutely no negatives on my credit report other than four hard pulls.

Here's where I am confused. On the Amex intro papers it said that I could get a free report from Experian. When I got it, it showed my score was only 688. Is it normal for a fako Report to be 130 points off?

Also, the experian report showed dozens of credit checks from different credit card companies that I have not even applied to. Discover has been checking it three times a month, every month. Please tell me that these are not hard pulls..

That amount of score difference is not surprising for your situation. The collection is over $100 and will count against Fico 08 score even though paid. Impact of the collection alone could be a 100 point deduct.

 

I don't believe the paid medical collection is being factored into your VantageScore 3.0.

VS3 consumer friendly.jpg

 

As an FYI, the paid collection probably is not hurting your Fico 09 score either as Fico 09 excludes paid collections.

 

Fico 09 collections.jpg

 

If you purchased a 3B report, you may see Fico 09 scores 80 to 100 points higher than corresponding Fico 08 scores.

Fico 8: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 9: .......EQ 850 TU 850 EX 850 (3/2017)
Fico 4 .....:. EQ 804 TU 823 EX 830 (3/2017) EX Fico 98: 839 (3/2017)
VS 3.0:...... EQ 832 TU 832 EX 832 (3/2017)
Fico 8 BC:. EQ 887 TU 899 EX 900 (3/2017)
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950 (4/2017)
Message 68 of 106
Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories

FICO 8 and Vantage 3 track pretty well for me. Vantage is more erratic but all 6 scores are within 20 points ovevtge course of a year. I understand that's just me and my profile and others have different experiences.
Fico 8 Scores
10/2017: EQ - 823; TU - 835; EX - 824; Seven CCs ($125,500 CL, 0%-1% UTIL); AoOA = 15.5 years; AAoA = 60 mos.; AoYA = 18 mos.; one mortgage; one car loan; derogs from 2009 and 2010 now gone after 7 years. It's taken a few years but credit scores are now good after starting in the high 500s back in 2011
05/2016: EQ - 712; TU - 706; EX - 710
11/2015: EQ - 694; TU - 651; EX - 653
5/2015: EQ - 640; 11/2014: EQ - 653; 05/2014 EQ - 653; 11/2013: EQ - 645; 05/2013: EQ - 656;11/2012: EQ - 646;
Message 69 of 106
New Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Well that's not true. The fico score you get here is pretty legit. They give you your fico score 8 which 90 percent of lenders uses. Mortgage companies uses a different version of the fico score. From what I been reading from some research myfico is probably the best place to get your scores outside the 3 credit bureaus.
Message 70 of 106