Question and Twist on FICO VS. FAKO

[ScarletFever]

Typically, most consumers FAKOS are higher than their FICOS. I have the opposite issue. My Fico is 40-60 points or more higher than my FAKOS. Do FAKOS have any sway at all with creditors that obviously see information on any given credit report? Is there a strategy I should be employing to raise FAKOS, or should I just let them go?

[astateofblank]

Basically, FAKOs have absolutely no sway. They aren't included in your credit report, although most places that you can buy your CR through will show you a FAKO as a "feature". Even if lenders could pull up FAKOs for free, I doubt most of them would even bother.

My FAKOs range above and below my scores (10 pts above to 90 pts below) from TC. FAKOs are best when completely ignored, IMO. FAKOs are FAKE-Os for a reason...they're just plain fake!

At best they are an indication of movement in someone's FICO score. At worst someone could try to raise their FAKOs, and end up lowering their FICO.

[ScarletFever]

Thanks.

My EQ FICO is 70 Points higher than my TU FAKO. Unbelievable.

[haulingthescoreup]

FWIW, which isn't much, TrueCredit FAKO's seem to run higher than the real things for those with FICO's in the mid-600's and below, and lower for those with FICO's in the upper 600's and above.

FAKO's are a spiffy way for their creators to make some quick cheap bucks. They sure don't do much of anything else. Two minor exceptions:

There is a score called the Vantage score, invented by all three CRA's. It has only one score for all three, it concentrates on the last 2 years, and they've been trying to flog it to lenders, without much success. All the Vantage pullers that I've read about (not many of them) are also still pulling FICO's, doubtless trying to compare which works better for them.

Prosper.com uses a variation of the Experian PLUS score. They're the only lender that I know of that does.

Many lenders will tell you that they don't do FICO scores, but that they pull directly from EX or whomever. This is conversational confusion --they are pulling your EX FICO score, which is in fact crunched at EX, which is why they say they're pulling it from Experian. (Same for the others.) They don't pull your scores from myFICO.com, because this site is for us poor schmucks trying to stay alive.

[ScarletFever]

Thanks Hauling. I use creditchecktotal.com....My fakos are running well below ficos, and rarely move..