Drastic Score changed in 1 day

[Anonymous]

Help !!!

Yesterday I pulled in Equifax report off of the Equifax web site that I have been using for the past year and had a score of 663. Today I decided to purchase the my fico and the Equifax score was 577. Can anyone explain this to me????

[haulingthescoreup]

Hi, welcome to the forums!

Yes, unfortunately the score that you bought directly from Equifax is what we call a FAKO, a credit score that isn't a FICO score. The one that you got here is a FICO, which is what most lenders use.

There is very little relationship between FAKO's and FICO's; in other words, no formula that works all the time (or even most of the time) to convert one score to the other.

Equifax used to sell consumers our FICO scores. But alas, they've now joined the others in making money off of consumers who don't realize the difference. 

[tbolt2]

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@haulingthescoreup wrote:

Hi, welcome to the forums!

Yes, unfortunately the score that you bought directly from Equifax is what we call a FAKO, a credit score that isn't a FICO score. The one that you got here is a FICO, which is what most lenders use.

There is very little relationship between FAKO's and FICO's; in other words, no formula that works all the time (or even most of the time) to convert one score to the other.

Equifax used to sell consumers our FICO scores. But alas, they've now joined the others in making money off of consumers who don't realize the difference. 

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No kidding.....my scores are the exact opposite of the OP's - Equifax FAKO is 596, MyFico is 652.

[TravellingNomad]

equifax actually does sell your FICO score.  looky here ----> http://www.equifax.com/myfico-products/

you have to look for that link in their website because it's not really easy to find.  but their website indicate that the score they give you is based on their own scoring system.  and then in some part of their website, they tell you that if you want the report with your actually FICO score, it gives you the link to it.  like i said, it's not easy to find but if you pay attention on their website and look hard enough...you'll find it.

[TravellingNomad]

LOL...im sorry.  yes i meant Equifax.  thanks for the correction.  post corrected....too early in the morning still. 

[Anonymous]

Yep.  Equifax sells both FAKO scores and FICO scores.  Your link takes you directly to the FICO products they have on their site.

But, when you're wandering about the Equifax site, you have to work really really hard to find the available FICO scores. 

The most accessible scores available for purchase on their site, are, unfortunately, the FAKO scores.

You almost have to have a PhD in FICO-dom to know which score you have when you purchase from their site.

Tricky.

When you purchase an Equifax score from this site, it is always a FICO.

Simple!

[tray]

So can I ask,  is the equifax score from equifax's score watch site a fako or fico score, thanks for any information.

[Anonymous]

ScoreWatch is a FICO score, most other products on the Equifax site are FAKOs.

You have to be super vigilant to get a FICO from their site.