True credit vs. my fico

[busyone]

I have a banker friend who said he worked for fico. He swears up and down true credit.com

is the closest you can get to actual scores that a mortgage company,car dealer, etc. would

pull. I told him they were facos vs the real fico. He's still not convinced,so how do I prove to

him otherwise???  I read these forums religiously and I know my fico is the closest you can

get for a consumer to pull their scores. I just need some better info to prove him wrong.

[marty56]

Refer him to this forum otherwise just smile and change the subject.  You cant cure stupid.

[Anonymous]

Or you can add to the pile of threads that goes something like this:

"My TransRisk score (FAKO) from Juniper says 658.  But my FICO score from myFICO says 691.   Why are they so different?"

We should start betting on how many threads like these we see each week.  

[cobra19]

I hope your banker friend is your friend - but not your banker.  Does his bank issue credit cards? Ask him which reports his bank's credit card division looks at when deciding credit lines.

[RobertEG]

I think he only worked in using FICO.  Otherwise, he is a moron.

[haulingthescoreup]

Try showing him this, and ask him for his explanation:

FICO:
EQ - 705
TU - 728
EX - 714

FAKO via TrueCredit:
EQ - 721 (+16)
TU - 672 (-56)
EX - 653 (-61)

In case I ever app for a card from his bank, and in the unlikely event that he knows what he's talking about, I hope to heaven that they pull FAKO EQ and not FAKO EX.


edit: whoops, FICO EQ typo!

Message Edited by haulingthescoreup on 07-01-2008 05:52 PM

[busyone]

Thanks for all of the responses gang. He is a friend of the family and a little bit of

a know it all. I know that myfico is the real deal. What's frustrating is I could not

articulate it well enough to have a convincing arguement.

         However nothing surprises me anymore. A while back I was considering credit

repair and called a few different companies. I mentioned business credit to one "paralegal",

and he had absolutely no clue about D&B,or that Exp. or Eq. did anything with business credit

scores. He even put me on hold to ask his manager and said they had never heard of D&B

either?? Go figure.

[RobertEG]

As Marty has said, just refer him to Credit Scoring 101 on this forum (unfortunately we have no Credit Scoring 001 forum!).  He does not even have to be a myFICO member to read this forum  Some of the most factual advice that exists about credit scoring anywhere is contained there.  Let him argue with that, and not with you!

Message Edited by RobertEG on 07-03-2008 11:43 PM