Question on Fico/Fako Scores

[Anonymous]

I would like to know if the FICO score is genearlly Higher when pulled than the Faco Scores?  Any insight would be appreciated!

Thanks!

[haulingthescoreup]

It varies completely, depending on the type of FAKO (they have all different ranges) and depending on what's on your reports.

I've had them run higher and lower, sometimes on the same FAKO. Not worth the pixels they display on.

[llecs]

My FAKOs have been both higher and lower at the same time as my FICO when pulled on the same day. Sometimes it is both higher and lower, if I compare 2 or more FAKOs at the same time as the corresponding FICO.

(tongue in cheek answer...but a true statement). I like to compare FAKOs to FICOs like I compare apples to oranges. If you have 8 apple seeds in the apple core, how many seeds will I have in my orange? There's no way to answer that. You can read up what's in a FICO score on here everyday, but some FAKOs count stuff that FICO would never count. Some FAKOs won't count AUs. Some FAKOs count inquiries for 2 years. Some FAKOs count CAs into your history. Some FAKOs only count open OC accounts into your AAoA. Some FAKOs don't update real time. Some FAKOs go on a scale from 150-950, some from 330-830, and some 501-990, whereas a 700 score is good for one FAKO but a 700 is bad for another. I ignore all FAKOs and their advice.

[Anonymous]

I appreciate your insight!  We are trying to purchase a home; I have 13 items on my TU/EQ reports.  3 are good standing the other 10 are not. But out of the 10, 7 are paid zero balance (they show paid collection)  I cant seem to get my scores to budge. I have a automobile I am financing; have 4 more months on it until its paid; never late; but hasnt increased scoring either?!?  Im so frustrated

[haulingthescoreup]

If you have bought FICO (not FAKO) EQ and TU reports from the site here, look on screen 2 at the list of negatives on the left.

These are the factors that are hurting you the most, and they're the same factors that your mortgage lender will see when they pull your reports. Unless your Experian report is significantly different (older, younger, has a negative not on the others, doesn't have a negative that's on the others, etc.), the negative factors from EQ and TU probably overlap the EX factors, at least to some degree.

At any rate, those are the things that are holding down your scores, with the most significant listed first. If you can work on anything on those lists, you should start to see score improvements.

Don't worry about the cute little graphics on screen 1, and the positives on screen 2. They're there mainly for entertainment purposes. Concentrate on the negatives.