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Posts: 4
Registered: ‎10-07-2013
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Yet another Fico vs. Fako

Hello,

 

There is a large differential between two of my credit monitoring services that I pay for. Please help me ditch one, the other, or both depending on which one is accurate. $17/month is not insignificant.

 

My two accounts are: 

- Transunion Total

- Experian Direct (with just the one Experian score)

 

Which one is more accurate, please? When I search, I'm finding a lot of dated information and the OP's tend to not mention which service they use, so I'd like to reopen this discussion. 

 

Thank you!

Valued Contributor
Posts: 1,485
Registered: ‎08-30-2011
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Re: Yet another Fico vs. Fako

[ Edited ]

JMerrill110067 wrote:

Hello,

 

There is a large differential between two of my credit monitoring services that I pay for. Please help me ditch one, the other, or both depending on which one is accurate. $17/month is not insignificant.

 

My two accounts are: 

- Transunion Total

- Experian Direct (with just the one Experian score)

 

Which one is more accurate, please? When I search, I'm finding a lot of dated information and the OP's tend to not mention which service they use, so I'd like to reopen this discussion. 

 

Thank you!


FAKOs should only be used for entertainment purposes, since that is their own caveat.  If I were you, I'd dump the ones that you're paying for, and if you feel the need for a FAKO monitoring service, use something like CreditKarma or Credit Sesame,which are both free.  However, be aware that they have their own flaws.  Hence their value only as an entertainment tool.

 

If you have a need to have a pay service, go with ScoreWatch and get a true EQ FICO score right here. 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10.5K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
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Posts: 1,978
Registered: ‎04-07-2009
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Re: Yet another Fico vs. Fako

[ Edited ]

My question to you would be what is your purpose fror having a credit monitering service? I use a credit monitering service (which I pay for) which provides  FAKO score. I am fine with that. As a matter of a fact I do not even care what the score is no matter if it is FICO or FAKO.  The score is not why I have the service. The reason why I have the service is to make sure that the credit data being reported is accurate. If the data is accurate the score will be whatever it will be and the score will be correct..  Also, to checl for any fraudulaent or potentially fraud activity and resolve it ASAP. If you are buying the service just for the score I would rethink why you have the service.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Valued Contributor
Posts: 1,485
Registered: ‎08-30-2011
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Re: Yet another Fico vs. Fako


AndySoCal wrote:

My question to you would be what is your purpose fror having a credit monitering service? I use a credit monitering service (which I pay for) which provides  FAKO score. I am fine with that. As a matter of a fact I do not even care what the score is no matter if it is FICO or FAKO.  The score is not why I have the service. The reason why I have the service is to make sure that the credit data being reported is accurate. If the data is accurate the score will be whatever it will be and the score will be correct..  Also, to checl for any fraudulaent or potentially fraud activity and resolve it ASAP. If you are buying the service just for the score I would rethink why you have the service.



Yup, I agree.  I also use a credit monitoring service from AMEX, their CreditSecure.  I also understand it's a FAKO.  That said, I've also found that their FAKO is closer to my FICO here. Rather than for the score,  I also use the CMS primarily for the reports that are available, which for me are very thorough, and for the changes that post to my accounts as they occur.  I also have various alerts set up, and get notifications via email and SMS to my cell phone.  Then I can check CreditSecure, or come here and Check MyFICO reports. 

 

I do use the "free" services, but only for entertainment purposes, and they are usually not accurate and don't include my closed/favourable TLs.  Just today, I had to send a message to Credit Sesame, one of my credit cards is showing a balance (which I expected), but they are showing it TWICE, doubling the balance on my card, affecting my utilisation, and dropping my score a point.  No biggie.  I know it's incorrect as I checked my Experian report here after the date for the alert from Credit Sesame, and it's only reporting once.  It was a major purchase that I plan to pay off over a few months, but the "damage" was done at Credit Sesame.  Fortunately not at Experian, either from their report from here, or via CreditSecure, which should be, and is, the same data. 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10.5K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
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