topic Re: 3 Credit Scores and Explanation in Understanding FICO® Scoring

3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:32:25 GMT

I have access to all 3 of my credit scores and reports. I have just fixed some issues with collections and judgements and made sure that my file was updated with the right credit cards that I have now. Well Experian shows me at a 655 and the other two equifax and TU show only a 563. However, there information was just fixed within the last 3-4 days. Is TU and Experian reporting agencies slower at updating the scores? Any ideas. The information matches each one exactly... Thank you

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:34:06 GMT

Where did you get these scores? If they're not real FICO scores, they're not reliable.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:36:54 GMT

Directly off of the websites. Creditexpert.com 655 for Experian and for the TU and Equifax (transunion.com. equifax.com and here myfico.com shows only 564.)

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:39:50 GMT

Of the sources you mentioned, none of those are FICO scores except for the one from myFICO.com.

If you want to know your real FICO scores for each CRA, you can buy them all here at myFICO. All of the other scores you mentioned are completely unreliable.

If you haven't done so already, please read the first post of the Credit Scoring 101 thread linked in my siggy. The differences between FICOs and FAKOs are explained there in detail.

Message Edited by cheddar on 04-29-2008 08:39 PM

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:42:53 GMT

Great. Ok so the account on creditexpert is merely their accounting of what the score might be, maybe. I see now reading more information on the links you have here. So if I want to see exactly what a lender will see for my score then its here. I could only find one FICO score on here is there actually an accounting of all 3...? Thanks for your help.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:45:24 GMT

Oh also do you know when information changes on the reports how soon is the information recalculated for a score change? Is it immediate? Thanks again.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:48:45 GMT

flint454 wrote:
Great. Ok so the account on creditexpert is merely their accounting of what the score might be, maybe. I see now reading more information on the links you have here. So if I want to see exactly what a lender will see for my score then its here. I could only find one FICO score on here is there actually an accounting of all 3...? Thanks for your help.

Yep, I think you got it. Happy to help.

You can buy all three of your FICOs from here. Click the "Products" tab at the top, and look for the product called "FICO Credit Complete." That product includes a one-time pull of all three reports and FICO scores.

You can use the discount code "7yrsale" for a 25% discount when you check out, but that code is only good through tomorrow (April 30). After tomorrow, you can Google "MyFICO discount code" for other codes to use, but they may or may not be for 25% off.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:51:00 GMT

If the information is updated I think you should have accurate scores. I could be wrong, but if those accounts are removed or have been changed and are reporting correctly your scores should be accurate/

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:51:14 GMT

flint454 wrote:
Oh also do you know when information changes on the reports how soon is the information recalculated for a score change? Is it immediate? Thanks again.

A FICO score is generated based on a snapshot of whatever is on the report at the time the report is pulled and the FICO score is requested. So if it's on your reports, it's reflected in your FICO immediately. There's no lag time.

This is not necessarily true of FAKO scores, so that may explain the discrepancy between the FAKOs you described in your first post above. For future reference, though, it's best to ignore any scores that are not FICOs, because they are essentially meaningless, and don't necessarily have any correlation with your FICO scores at all.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:54:04 GMT

Thanks I am pulling the scores according to FICO right now. I wish I could tell the FAKOS how faking's not funny.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:55:31 GMT

@Anonymous wrote:
Thanks I am pulling the scores according to FICO right now. I wish I could tell the FAKOS how faking's not funny.

lol!! Cute I like that one!

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:56:31 GMT

@Anonymous wrote:

@Anonymous wrote:
Thanks I am pulling the scores according to FICO right now. I wish I could tell the FAKOS how faking's not funny.

lol!! Cute I like that one!

LOL! Me too.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 03:58:14 GMT

Ok so here is the deal. If anyone wants to know the FAKO vs FICO comparison.

FAKO SHOWS 655 EX / 564 EQ / 564 TU

FICO SHOWS 595 EX / 564 EQ / 609 TU

Those are right off the Fake websites that I am proudly a paying member of. LOL. And the FICO here.

My new tag line FAKING AINT FUNNY.

Re: 3 Credit Scores and Explanation

Anonymous — Wed, 30 Apr 2008 04:14:14 GMT

Well at least I can easily dispute online with my memberships. Off to disputing more I go! Thanks for the tips and help.

Re: 3 Credit Scores and Explanation

Anonymous — Thu, 01 May 2008 00:16:00 GMT

still experian does not submit info to my fico so you will not get a true picture from them. EQ and TU are ok.

Re: 3 Credit Scores and Explanation

Anonymous — Thu, 01 May 2008 01:06:00 GMT

I am not sure I understand..... You mean that Experian does not report to myfico.com? So the information on MyFico is incorrect.. Pleas clarify Thanks!

Re: 3 Credit Scores and Explanation

Anonymous — Thu, 01 May 2008 03:58:48 GMT

flint454 wrote:
I am not sure I understand..... You mean that Experian does not report to myfico.com? So the information on MyFico is incorrect.. Pleas clarify Thanks!

The EX score you get from myFICO is correct.

The only thing different with EX vs. the other two on myFICO is that EX does not supply any positive reason codes (i.e., what's helping your FICO score), and there is no simulator that comes with an EX report, as there is with TU and EQ.

Having said that, the EX report is correct, and so is the score.

Re: 3 Credit Scores and Explanation

Anonymous — Fri, 02 May 2008 16:04:28 GMT

flint...............there is no comparison between FICO and FAKO scores. For some folks, when your FAKO trends upward, so might your FICO's. For others, just the opposite.

Frankly, FAKO scores are not worth the paper you use to print them. They are completely and totally useless. Any correlation between your FAKOs and FICOs is purely coincidental.

Re: 3 Credit Scores and Explanation

RobertEG — Sat, 03 May 2008 07:12:58 GMT

I must interject, and I am sure that it will generate immediate consternation amongst my peers here at myFico, that I do not accept the use of the term "FAKO."

FICO scores are generated under license from Fair Isaac, and only they can bear the moniker of "FICO."

But, last time I checked, the federal trade laws did not grant a monopoly to FairIsaac as the the real, vs. fake, source of credit scoring of data contained in the banks of the CRAs. And last time I checked, this is still a captitalist country, and others are free to market scoring algorithms. Advantage scoring was not developed in a garage off of the U-St bridge by some hackster. It was developed to compete with FICO, and that is the capitalist way.

The use of the term FAKO is totally negative, and implies that it was generated by some fly in the night scammer, or by some member of the Sopranos.

Sure, FICO is the industry standard. But so once was Big Mamma Bell. Now we have Baby Bells.

If any lendor, in making a credti decision, chooses to rely upon a score other than that generated by Father FairIsaac, that is their choice, and should not be branded as a fake.

I do not encourage anyone to place value on a score that their lendor wont be using. Just not forget that not all people in the world favor chocolate over vanilla, and would thus conclude that vanilla is a FAKO flavor.

Message Edited by RobertEG on 05-03-2008 12:08 AM

Message Edited by RobertEG on 05-03-2008 12:10 AM

Message Edited by RobertEG on 05-03-2008 12:12 AM

Re: 3 Credit Scores and Explanation

haulingthescoreup — Sat, 03 May 2008 12:40:36 GMT

It's just an easy way of clarifying in people's minds that these non-FICO scores are hardly used by any lenders at all, if any.

I would much rather type or say "FAKO" than
"non-FICO-scores-that-are-hardly-used-by-any-lenders-at-all-if-any."