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Question about FICO scores...

New Visitor

Question about FICO scores...

So I understand that Credit Scores that you get from TU, EX, and EQ are also known as FAKOs and not the real deal.
 
So why do each of these companies have FICOs too? And which one is looked at? Or do they pull them all?
 
Mine are all close to each other...
 
TU: 696
EQ: 698
EX: 702
 
When I pulled my TU Credit Score the other day it was like 803. Quite a difference.
 
I'm looking to buy a new car soon, so I wanted to see where I stand.
 
Thanks!
 
 
Message 1 of 4
3 REPLIES
Senior Contributor

Re: Question about FICO scores...



bigtime11 wrote:
So I understand that Credit Scores that you get from TU, EX, and EQ are also known as FAKOs and not the real deal.
So why do each of these companies have FICOs too? And which one is looked at? Or do they pull them all?
Mine are all close to each other...
TU: 696
EQ: 698
EX: 702
When I pulled my TU Credit Score the other day it was like 803. Quite a difference.
I'm looking to buy a new car soon, so I wanted to see where I stand.
Thanks!



Equifax is FICO. Smiley Happy The real score. Experian is either Plus or Vantage, TU is Vantage, TC is TransRisk, and these are FAKOs. Simply, the other companies don't want to pay royalties to FICO to use their scoring system. Lenders pay to use the FICO formula so when they pull the credit reports it goes through their pay system. Lenders pull the credit reports and then run them through FICO I believe. Maybe the CRA's do offer FICO, just not to us. I heard that TransUnionCS or something like that does offer FICO, but not sure. It was expensive so I passed. Hope this answer helps.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 2 of 4
Senior Contributor

Re: Question about FICO scores...

If you buy them from MyFICO they are all FICO.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 3 of 4
New Visitor

Re: Question about FICO scores...

Thanks Ilovepizza. I did buy them from MyFico - but until I was on that site I wasn't aware each CA has a FICO score.
 
I appreciate your response.
Message 4 of 4