topic Re: FAKO scores in General Credit Topics

FAKO scores

trudawg660 — Sun, 15 Jun 2008 16:49:20 GMT

I'm trying to find the cheapest place to get all 3 FAKO score monitored, with everyday pulls. Thank you in advance for the help.

Re: FAKO scores

Anonymous — Sun, 15 Jun 2008 19:11:04 GMT

trudawg660 wrote:
I'm trying to find the cheapest place to get all 3 FAKO score monitored, with everyday pulls. Thank you in advance for the help.

TrueCredit......$14.95 per month.

Re: FAKO scores

Anonymous — Sun, 15 Jun 2008 22:08:21 GMT

FAKO's mean nothing. Why do you want them so much?

Re: FAKO scores

Anonymous — Mon, 16 Jun 2008 00:18:39 GMT

@Anonymous wrote:
FAKO's mean nothing. Why do you want them so much?

I'd say that's a wee bit of an exaggeration. While the scores themselves don't mean anything, FAKOs can serve as a "canary in the coal mine." If you have daily FAKOs, and your FAKO drops 32 points in a day, that's a good indication something bad just landed on your credit report and you probably ought to pull a Score Power report or something to see just what happened.

Re: FAKO scores

haulingthescoreup — Mon, 16 Jun 2008 00:56:08 GMT

@Anonymous wrote:
@Anonymous wrote:
FAKO's mean nothing. Why do you want them so much?
I'd say that's a wee bit of an exaggeration. While the scores themselves don't mean anything, FAKOs can serve as a "canary in the coal mine." If you have daily FAKOs, and your FAKO drops 32 points in a day, that's a good indication something bad just landed on your credit report and you probably ought to pull a Score Power report or something to see just what happened.

I understand the thinking on that, but I have to say that my TC FAKO's are drunken canaries in a completely different mine shaft from my FICO mine. When they went up, the FICO's weren't budging, when they went down, the FICO's went up. The TC scores haven't budged in two months, and the FICO's have been all over the place.

So I pull TC for the reports, and for the first few months, I peeked at the scores, until I decided that I didn't need any more confusion than I already had, which was lots. So I say get TC or one of the others, and regard the scores as you would your newspaper horoscopes. Every now and then, they're going to get it right.

Re: FAKO scores

tcham54687 — Mon, 16 Jun 2008 02:21:43 GMT

@haulingthescoreup wrote:
@Anonymous wrote:
@Anonymous wrote:
FAKO's mean nothing. Why do you want them so much?
I'd say that's a wee bit of an exaggeration. While the scores themselves don't mean anything, FAKOs can serve as a "canary in the coal mine." If you have daily FAKOs, and your FAKO drops 32 points in a day, that's a good indication something bad just landed on your credit report and you probably ought to pull a Score Power report or something to see just what happened.

I understand the thinking on that, but I have to say that my TC FAKO's are drunken canaries in a completely different mine shaft from my FICO mine.

HTSU, I couldn't agree more about the drunken lost canary. My TC EQ FAKO dropped 70pts last week. That 7...0...pts. I was in a panic. I combed over the TC report trying to find what had happened. I couldn't find anything. So with trembling fingers, I typed in my CC info and bought yet another $10.95 EQ scorepower to find out what had happened. Well, guess what. My EQ had gone up 19pts, from 709 to 728. Now of course this left me conflicted. I was pissed at TC for the bogus score drop, but elated that I had crossed the 720 threshold into the "Very Good" category.

I still use TC, but only for the credit reports, I don't trust the scores at all.

Re: FAKO scores

Anonymous — Mon, 16 Jun 2008 12:13:19 GMT

Wouldn't the credit monitoring service give you an alert to tell you just that? It just gets tiresome hearing all these people say "Why is my FAKO 50 points less than my FICO?"

Re: FAKO scores

Anonymous — Mon, 16 Jun 2008 16:57:18 GMT

FAKO are usless as I had MAJOR changes on my CR's and they stayed the same often!

I do think it is an awesome tool to monitor changes to your report though!

Re: FAKO scores

Anonymous — Mon, 16 Jun 2008 21:19:44 GMT

Credit monitoring sites - all pretty good, some really good

FAKO scores - all are useless.

PEOPLE: DON'T STRESS ABOUT FAKO CHANGES!!!!!!!!!! THEY MEAN NOTHING !!!!!!!!