topic Re: TrueCredit in Understanding FICO® Scoring

TrueCredit

CreditDrama85 — Thu, 05 Feb 2009 04:16:49 GMT

i know the scores of true credit monitoring are FAKOS but is the EX score given by truecredit the same FAKO you would get if you got it from Experians website?

Since Experian fico will not be available, does anyone know the widest gap that there is between FAKOS and FICO (example: no more than 50-80 point difference?) and are FAKOS usually higher or lower than FICOs?

Re: TrueCredit

llecs — Thu, 05 Feb 2009 04:25:58 GMT

CreditDrama85 wrote:
i know the scores of true credit monitoring are FAKOS but is the EX score given by truecredit the same FAKO you would get if you got it from Experians website?

Since Experian fico will not be available, does anyone know the widest gap that there is between FAKOS and FICO (example: no more than 50-80 point difference?) and are FAKOS usually higher or lower than FICOs?

Can't speak to the FAKOs used (though have a good guess), but there is ZERO relationship between EX FAKO (like PLUS or Vantage) compared to EX FICO. Your FICO can go up and FAKO down and vice versa. I've had a gap as much as 80 points on EX (over 100 on TU) when comparing FAKO to FICO. My favorite example is that my last CA fell off EX. My EX FICO shot up 58 points. My EX FAKO (PLUS score via CCT) dropped 8 points. There's never a correlation.

Re: TrueCredit

haulingthescoreup — Fri, 06 Feb 2009 02:24:13 GMT

The FAKO EX from TrueCredit is their homegrown score:

The TransUnion TransRisk New Account Credit Score is provided to help you better understand how lenders view your credit report... TrueLink is not connected in any way with Fair, Isaac and Company; the credit score provided here is not a so-called FICO score. The credit scores of TransUnion may not be identical in every respect to any consumer credit scores produced by any other company.

(From the eensie-weensie disclaimer in the palest of grey type at the bottom of your TC sore page.)

The FAKO EX from the Experian site is their homegrown PLUS score.

Neither of these are the Vantage score, which is ~~the single score~~ derived from all three credit reports, which the credit bureaus got together and created. You can also buy that from the bureaus and line your bird cage with it, or something.

No relation among the three, and no relation among the three and FICO's. Unfortunately, there isn't a conversion formula like the one for changing Fahrenheit to Celsius and back again, because all these formulas weigh credit report data differently.

A few members here have posted that there is a consistent relationship between their FAKO's and FICO's. From what I know of their credit histories and current reports, they seem to be people with mostly tidy, longish histories, so I think there are less variables for the formulas to play with. Even then, the numbers aren't necessarily close. They just sort of track one another. Sort of. Mostly.

eta: I found out earlier today that I was wrong about the single score thing. The correct version is that there is a single formula, which is applied to each credit report. If you miraculously had identical credit reports, you would have the same score for each bureau. (This is not true of FICO scores, because each bureau has its own unique formula.) Otherwise, you will have different scores from each CRA. Thanks to fused for enlightening me!

Message Edited by haulingthescoreup on 02-05-2009 06:24 PM

Re: TrueCredit

Anonymous — Thu, 05 Feb 2009 17:55:18 GMT

I currently subscribe to TrueCredit (though I will cancel after this month's 3-way report). The scores have generally moved in similar fashion, but it's still iffy. For instance, my TrueCredit TU score is 738, but myFICO tells me it's only 694. Pretty significant difference.

Re: TrueCredit

Donks3369 — Thu, 05 Feb 2009 21:12:09 GMT

Credit,

I asked this question quite a long time ago. When I started my credit rebuilding I had differences in my FICO and FAKO of about 130 points. Unfortuantely for me at the time the FAKO was the higher one. But someone did they me they had 150 point difference. Now that is crazy!!! Just ignore them at all costs.