Difference between My Fico and true credit? Which one is correct???

[Anonymous]

I have been using myfico to clear up some errors on my reports.  According to myfico my scores with all three bureaus range from low to middle 600's .  Then I went onto experian website per a suggestion from an experian rep and bought transunion and experian reports and scores.  They show me as having high 500's.  The true credit reports arent the same as my fico either.   Not a lot is different but enough to make me wonder which is correct?  My main concern is the difference between myfico scores and the truecredit scores.  Why do the scores differ?  And most important who has the correct score.  One is a 50 point difference!!!

Any info on this matter is greatly appreciated.  This is so complicated

[Anonymous]

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sarge01 wrote:

I have been using myfico to clear up some errors on my reports.  According to myfico my scores with all three bureaus range from low to middle 600's .  Then I went onto experian website per a suggestion from an experian rep and bought transunion and experian reports and scores.  They show me as having high 500's.  The true credit reports arent the same as my fico either.   Not a lot is different but enough to make me wonder which is correct?  My main concern is the difference between myfico scores and the truecredit scores.  Why do the scores differ?  And most important who has the correct score.  One is a 50 point difference!!!

Any info on this matter is greatly appreciated.  This is so complicated

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There are 2 different types of scores, FICO and FAKO.

FICO are the real deal and what the majority of any lender, especially large lender, uses. You can get them a few select other places, but mainly only here.

Scores you get elsewhere, like from the CRA and credit monitoring services, are FAKO.

If you buy your EQ score from EQ, it will be a true FICO.

[Anonymous]

The answer is both are probably correct...according to the formulas used to calculate the score.

But that's probably not helpful information, so let me rephrase your question for you: Which score is most relevant to your life as a consumer? That would definitely be your FICO score.

[Anonymous]

Your information helps. i just started this maze of the credit world and it is quite the ordeal I must say. 

 However, now im wondering if I got a fako score or a fico score.  I went to experian.com then bought transunion and experian report. I  received confirmation by email that said thank you for purchasing your credit report from freecreditreport.com from Experian. Then another confirmation saying thank you for purchasing your credit report from freecreditreport.com from Transunion?  Which do you think I got fako or fico?

[Anonymous]

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sarge01 wrote:

Your information helps. i just started this maze of the credit world and it is quite the ordeal I must say. 

 However, now im wondering if I got a fako score or a fico score.  I went to experian.com then bought transunion and experian report. I  received confirmation by email that said thank you for purchasing your credit report from freecreditreport.com from Experian. Then another confirmation saying thank you for purchasing your credit report from freecreditreport.com from Transunion?  Which do you think I got fako or fico?

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FAKO

[Anonymous]

Even though the scores are FAKO, the reports are the real deal and they can give you great clues as to what is holding your score back and what you can/need to get fixed on your reports. Buying scores from here is a good step to take (good myfico discount codes to save a little money).

[jmbfl]

To be adequately clear to all: freecreditreport.com score = FAKO!

The only places I know of to obtain a true FICO score are:

1) myfico.com

2) transunioncs.com

The WaMu site provides a Bankrate PFICO score for cardholders which does not seem to compare well with a regular FICO score. It is a real FICO score but is computed using a different formula.

However, credit report details are generally correct without regard to the source. I have found very minor differences between TC and an individual CRA but to date this has only occured with respect to the reporting of inquiries.

[marty56]

IMHO FAKO scores are sueless unless you are dealing with someone who uses them.  The reason is that FAKO scores and FICO scores do not even match parity when something happens to your credit.  One goes up and the other one may go down or not change at all.  Also the advice given on say True Credit would actually lower your FICO score.

It is true that the scores are generated from your credit report but so what.  My vantage score might have me at an A but that does me no good if someone pulls my EQ score and wants a 760.  My TC TU FAKO is 728 which has gone down from 734 (for my auto loan INQ I suppose) but my real TU FICO score is 775.

Message Edited by marty56 on 06-21-2008 03:07 PM

[Anonymous]

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jmbfl wrote:

The only places I know of to obtain a true FICO score are:

1) myfico.com

2) transunioncs.com

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Equifax sells FICO scores with their ScoreWatch product, as well.

[RobertEG]

Forgetting for a minute the long, and often discussed, difference between FICO and non-FICO scores, regardless of where you pull your scores, the underlying CR should be the same.  CRs are maintained by each of the three CRAs, and not by FairIsaac or by the vendors who subscribe to those reports for second party sales to consumers.  So the source should be consistent.

I know that myFICO reports and scores originate directly from the CRAs based on their current data.  What seems to be implied is that some vendors of CRs and/or scores do not look anew with each purchase at the current and actual CRA data?  That is the only way I could understand a difference in basic CR data from any vendor if the pull dates are the same.   Anyone have any insight?

Message Edited by RobertEG on 06-21-2008 10:48 PM

Message Edited by RobertEG on 06-21-2008 10:51 PM