topic Re: Eq score directly from equifax don't match lender. Fako or fico in Rebuilding Your Credit

Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Tue, 05 Aug 2014 22:39:28 GMT

Hello all. Just wondering. I applied for card about 10 days ago.

Got denied. Noticed that score I got from Equifax web site said all month that my score is 659

however. Letter from lender says score is 701. What is going on here? I thought Equifax had fico not fako. 17 bucks a month for garbage? Any tell please where to get real fico. 42 point difference. Really. Can't even trust cra's

Re: Eq score directly from equifax don't match lender. Fako or fico

gdale6 — Tue, 05 Aug 2014 23:40:48 GMT

@taxi818 wrote:
Hello all. Just wondering. I applied for card about 10 days ago.
Got denied. Noticed that score I got from Equifax web site said all month that my score is 659
however. Letter from lender says score is 701. What is going on here? I thought Equifax had fico not fako. 17 bucks a month for garbage? Any tell please where to get real fico. 42 point difference. Really. Can't even trust cra's

Its a FAKO, says on their site "The Equifax credit score is based on an Equifax credit score model and is not the same as scores used by 3rd parties to assess your creditworthiness". You can only buy Ficos here at MyFico, all are Fico 08. There are some cards that you can get that will give you a free Fico every month

EX: FNBO, PSECU if you live in PA

TU: Walmart, Discover Financial

EQ: DCU

Re: Eq score directly from equifax don't match lender. Fako or fico

kaylord84 — Wed, 06 Aug 2014 01:56:59 GMT

You have to Equifax score watch form their website to get your 04 eq

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Wed, 06 Aug 2014 02:10:52 GMT

Well I thought everyone went to fico 08. Damn they just billed me yesterday. I will just cancel in couple weeks. Can't believe difference. Equifax says 659. Cap 1 says your Equifax fico 701. Unreal. I hope that is fico 08. Was only 12 days ago.

Re: Eq score directly from equifax don't match lender. Fako or fico

Warrior2000 — Wed, 06 Aug 2014 03:12:08 GMT

Sooo my lender pull was 635 on EXP on 6/2/14. I paid 19.99 for the score on the EXP website and as of 7/28/14 it said my score was 587. Today i got an update which said it went up from 587 to 644. Weird right?! I know 587 is a Fako, but can we assume that my Fico went up?

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Wed, 06 Aug 2014 08:12:19 GMT

Possible. But I realize now. Don't buy from cra's. Only trust what lender says. I hope my fico does 08 version now to get true ideal if going up or down. But I think as long as utilization is really low. And no lates or baddies. All will be good.

Re: Eq score directly from equifax don't match lender. Fako or fico

JcT21 — Wed, 06 Aug 2014 12:45:35 GMT

i have the equifax advantage service. was 17 a month... once i found out it was a fako score i called to cancel, i got it for $7 monthly. ive used it for about 4 months. although their score is a fako, i do like being able to update my report when i want. and i get a text the instant something changes. their score is 40+ points lower than my real fico though. it goes up and down daily with no changes at all to my report. i get a fico from walmart, barclay, discover and get all 3 every six months here at myfico.

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Wed, 06 Aug 2014 13:43:25 GMT

Thank you great ideal. But my score has not changed in 3 months on eq. It's 42 points lower. Yes. Walmart tu fico. Need to know where to get experience fico next. How did you get for 7 bucks a month.

Re: Eq score directly from equifax don't match lender. Fako or fico

amber78 — Wed, 06 Aug 2014 15:02:41 GMT

Thanks for this thread. My USAA Experian shows my Equifax at 658 and my actual Equifax subscription show it at a 540! Crazy.. now Im hoping that Equifax is a FAKO.. makes me feel a bit better

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Wed, 06 Aug 2014 15:54:05 GMT

Well I went to their site earlier. Did not see it before. They said not used by 3rd party lenders. So it's truly fako. But they will argue more more lenders using it. Yes 1/10 of 1 percent of lenders using it. No thanks.

Re: Eq score directly from equifax don't match lender. Fako or fico

JcT21 — Thu, 07 Aug 2014 01:28:16 GMT

after my initial trial period i called to cancel the service. they asked me if price was the reason i wanted to cancel. i explained i could get similar services for free via credit karma & credit sesame. they offered it to me for $7 per month for a year with the option to cancel at any time. i like monitoring my credit, so i took the offer. even though its a fako score, i like the services :-)

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Thu, 07 Aug 2014 01:34:37 GMT

I agree I like updating my report whenever i want. but i will do the same and call to cancel. if they offer me discount i will keep it.

too bad they billed me two days ago. goes to show can't trust any of these sites.
I am even wondering if my fico scores here are accurate to that of the lenders.

I heard so rumbling about fico 04 fico 98 now fico 08 who knows what a lender will pull.

I would like to see for example transunion 98 04 08 all next to each other at same time to see difference in score they realize all of this is nonsense

just pay on time (never late) and keep utilizatinon very low should do the trick. i mean under 10 percent at all times

Re: Eq score directly from equifax don't match lender. Fako or fico

gdale6 — Thu, 07 Aug 2014 01:39:38 GMT

@taxi818 wrote:
Possible. But I realize now. Don't buy from cra's. Only trust what lender says. I hope my fico does 08 version now to get true ideal if going up or down. But I think as long as utilization is really low. And no lates or baddies. All will be good.

This site (myFico) supplies Fico 08 generic/base scores for the 3 bureaus.

Re: Eq score directly from equifax don't match lender. Fako or fico

taxi818 — Thu, 07 Aug 2014 01:42:41 GMT

So if that is case. why do everyone act as if its their current score. i only think my score is what is on the back of a rejection letter. hehehe

Maybe i am wrong for doing this.

Re: Eq score directly from equifax don't match lender. Fako or fico

JcT21 — Thu, 07 Aug 2014 19:15:22 GMT

"just pay on time (never late) and keep utilizatinon very low should do the trick. i mean under 10 percent at all times" .....EXACTLY! ive been doing that for the past 5yrs, rebuilding after a chapter 13. ive come from a 535 to a 711 at the moment. just this morning my cap1 qs game me a new credit line of 6,300. i started out at 500 nearly 2yrs ago with gradual increases since. i was shocked, as well as excited. ive found that letting 1 card report each month & keeping utilization very low (4% or lower works best for me) will boost your score. rebuilding is a slow process but once you get there, its great! i hope you get a discount on the equifax service... good luck!

@taxi818 wrote:
I agree I like updating my report whenever i want. but i will do the same and call to cancel. if they offer me discount i will keep it.
too bad they billed me two days ago. goes to show can't trust any of these sites.
I am even wondering if my fico scores here are accurate to that of the lenders.
I heard so rumbling about fico 04 fico 98 now fico 08 who knows what a lender will pull.
I would like to see for example transunion 98 04 08 all next to each other at same time to see difference in score they realize all of this is nonsense
just pay on time (never late) and keep utilizatinon very low should do the trick. i mean under 10 percent at all times