topic Re: Credit Sesame/Credit Karma/ Fico score question... in Bankruptcy

Credit Sesame/Credit Karma/ Fico score question...

Anonymous — Sun, 05 May 2019 15:55:55 GMT

What is the difference in the FAKO and the FICO. My FICO is much lower than the other two. Thanks!!

Re: Credit Sesame/Credit Karma/ Fico score question...

thornback — Sun, 05 May 2019 16:03:36 GMT

Credit Karma/Sesame scores are not FICO scores, they are of the Vantage 3 model. Not only do they respond very differently to changes to your overall credit than FICO, but they also differ in how they weigh credit factors; it is common to see a significant difference (higher / lower) between your FICO and Vantage scores.

FICO is what lenders use to evaluate your credit, not Vantage. CK is good for monitoring changes to your reports only, but the scores provided may be ignored as they do not factor into credit decisions. Also ignore Experian® Plus / National Equivalency Score, Equifax® Score, and Transunion® TransRisk and the Vantage®-3 scores provided by sites like NerdWallet, Wallet Hub, and through TransUnion's credit monitoring service.

Re: Credit Sesame/Credit Karma/ Fico score question...

Anonymous — Tue, 07 May 2019 20:28:18 GMT

Thanks so much!!!

Re: Credit Sesame/Credit Karma/ Fico score question...

Anonymous — Sun, 12 May 2019 15:54:01 GMT

@thornback wrote:
Credit Karma/Sesame scores are not FICO scores, they are of the Vantage 3 model. Not only do they respond very differently to changes to your overall credit than FICO, but they also differ in how they weigh credit factors; it is common to see a significant difference (higher / lower) between your FICO and Vantage scores.

FICO is what lenders use to evaluate your credit, not Vantage. CK is good for monitoring changes to your reports only, but the scores provided may be ignored as they do not factor into credit decisions. Also ignore Experian® Plus / National Equivalency Score, Equifax® Score, and Transunion® TransRisk and the Vantage®-3 scores provided by sites like NerdWallet, Wallet Hub, and through TransUnion's credit monitoring service.

Great info.

Re: Credit Sesame/Credit Karma/ Fico score question...

Anonymous — Sun, 12 May 2019 17:19:48 GMT

It sounds like it doesn't make sense to have a Transunion, Equifax, or Experian monitoring service? Is myFICO the best? The only issue with myFICO is you have to wait 3 months to see an update (1 month if you upgrade to 39.95 monthly fee)

Re: Credit Sesame/Credit Karma/ Fico score question...

thornback — Sun, 12 May 2019 17:29:40 GMT

Experian's credit monitoring services (CreditWorks / IdentityWorks plans) are great and provide FICO scores.

I mentioned the Experian Plus score because it also exists so you should be aware of it and know the difference .

The Equifax and Transunion monitoring services do not provide FICO scores, but other features of report monitoring may be valuable to some.

myFICO is valuable because it provides all 28 versions of your FICO - that's why it's so costly. But if you don't need to monitor mortgage, auto, bankcard scores, etc. for all 3 bureaus, and are only interested in FICO 8, then it may not be worth the cost.