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Fako vs. Fico

Franz
New Member

Fako vs. Fico

Hello all,

 

Does anyone know how USAA's Fakos relate to Ficos? If my USAA Fako is 786 (after YEARS of work...I started out in the high 500s), can I count on my Fico being over 740?

 

Also, do Ficos update as quickly as USAA Fakos? That is, if my Fako went from 725 to 786 on Friday (which it did), and I have my bank pull my credit for a pending mortgage, will the Fico likely have gone up by now? Or do they take longer?

 

Thanks for any insight you can provide.

Message 1 of 6
5 REPLIES 5
llecs
Moderator Emeritus

Re: Fako vs. Fico

The scores via USAA's creditchecktotal resell is a FAKO called a PLUS score.

 

Your FICO score will never correlate to your FAKO score. Your FICO could easily be higher or lower. IME, my PLUS score has been as much as 100 points off my FICO when pulled the same day. Sometimes it is higher and sometimes lower.

 

Your FICO score is a snapshot in time and was calculated real time. I'm sure it is the same with your PLUS score, though, IME, though CCT, the score has sometimes been delayed.

Message 2 of 6
beamMEup
Moderator Emeritus

Re: Fako vs. Fico

+1 to llecs!

 

I got fako PLUS scores when we did our mortgage app. That allowed us to compare all three PLUS and FICO scores for both DH and I - so six scores altogether. I also subscribe to ScoreWatch and get FICO EQ score updates that I compare with my ongoing CCT fako PLUS scores.

When we compared scores, they were all over the place. DH's PLUS EXP score was his highest, his FICO EXP score was his lowest.
Mine was converse; my PLUS EXP score was my lowest and my FICO EXP score was high.

DH's PLUS score range between the three CRA's is less than 10 points. His FICO scores cover an almost 90 point range.

When companring FICO to PLUS, some of our scores were relatively close, some were 100 points off.

When my FICO went up, my PLUS did't. When my PLUS went up, my FICO went down. No pattern. No nothin'.

"The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way. This is important because lenders don't use FAKO scores; they almost always use FICO. So it does you no good to know a score that a) isn't correct, b) won't be considered by lenders."

Experian is fairly straight forward in saying, "The Experian-developed PLUS Score model is a consumer-focused credit score." That means it is a product designed to sell to consumers. It is, in short, a cash cow. Because it is not designed to mirror FICO - but is designed as a consumer tool, it has differing criteria. That is also why the advice given along with PLUS and other FAKO scores is faulty when applied to FICO scoring. Following FAKO advice can, and does, lower FICO scores.

Hope that's helpful!

Just puttin' syrup on something, don't make it pancakes.
Message 3 of 6
Franz
New Member

Re: Fako vs. Fico

Thanks very much to both of you for the replies.

 

How about this: if a collection came off EXP last week, can I expect it to come off TU soon?

 

And: does FICO lower your score for recently deleted collections? Or do they have absolutely no impact when they're gone?

Message 4 of 6
guiness56
Epic Contributor

Re: Fako vs. Fico


@Franz wrote:

Thanks very much to both of you for the replies.

 

How about this: if a collection came off EXP last week, can I expect it to come off TU soon?

 

And: does FICO lower your score for recently deleted collections? Or do they have absolutely no impact when they're gone?


Why did it come off EX?  Was it disputed or through some kind of arrangement?

 

Your score should not lower for a collection removal.  If it was a newer collection, and the only negative on your report, you may see a good bump.  If it was older you may not see much.  It really depends on what else is on your CR, utilization, credit mix, etc.

Message 5 of 6
Franz
New Member

Re: Fako vs. Fico

It came off because of my protestations to the CA/OC. They submitted it for deletion on 2/21.

Message 6 of 6
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