Contributor
Corvidae
Posts: 95
Registered: ‎03-19-2011
ationRe: Shouldn't TU98 be a FAKO?
[ Edited ]

We need legislation proposed to standardize credit scoring.

 

You have FICO, which has numerous variants of the score, yet we are only allowed to see a couple.  Want to prepare to buy a car?  Your standard FICO score from this site is useless if the dealer uses the auto formula.  Want to prepare to buy a house?  Your TU98 score is worthless if the lender decides to use TU04.  Want to know your Experian FICO score?  Join PSECU or bend over.

 

Then you have the FAKO system, which is completely misleading altogether, since 90% of lenders use FICO scores.  Even those websites say the score is worthless when obtaining credit.

804 Transunion
804 Equifax
775 Experien (lender pulled, auto enhanced)