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I use CK and freecreditreport.com to track changes in all three of my CR. I also follow the FAKO CK scores just to get a general idea of how things change.
I look at the CK scores on Sunday each week as it is supposed to update once a week.
On 10/22/17 my CK FAKOs were TU 682 and EQ 676
On 10/29 they were TU 610 (the only change was a decrease in CC bal from 80 to zero) and EQ 677
Today 11/01/17 I went to check something on my reports and I see that my CK FAKOs have updated to TU 685 and EQ 700. No changes to my credit reports.
Is there some reason my scores would have updated in less than the once every 7 days? Any reason you can think of for the wide swing in the TU numbers? Is CK simply being nuts?
Last legit FICO 8 score I have is from Discover Creditscorcard on 10/22 of 621.
My CK updates every 7 days for sure, but sometimes they update way more frequently. A few weeks ago my CK updated fresh DAILY.
The only thing I can think of with that weird score drop is that there was a hiccup internally -- I haven't seen it myself but others HAVE reported similar weird temporary score drops.
Since it is a Vantage Score and not a FICO score, it isn't very useful. You can see yourself that your TU FICO is lower than your VS FICO, and by enough that you can't really apply for cards you might get if your FICO was the same as your VS score.
The only use in FAKO scores is if they come with a copy of your CR at that time so you can see if anything has changed enough to pay for your FICO scores.
I disagree that the only use of a FAKO is if it gets a free CR. The FAKO may not tell me what my FICO is but it does show a trend over time. If my FAKO is increasing then so should my FICO. I get my FICO 8 free twice a month. Once from the Discover Creditsocrecard and once from freecreditscore.com.
By watching my FAKO and my FICO I have seen that an upward or downward trend on one is usully reflected as an upward or downward trend on the other. That said when something strange happens as it has in my OP that has usually not been reflected in my FICO scores.
So while a FAKO is a FICO it does have its uses.
@MakingProgress wrote:
By watching my FAKO and my FICO I have seen that an upward or downward trend on one is usully reflected as an upward or downward trend on the other. That said when something strange happens as it has in my OP that has usually not been reflected in my FICO scores.
So while a FAKO is a FICO it does have its uses.
FAKO trends are not what you think they are.
Here is my FAKO versus FICO trend lines. Watch how they go in opposite directions often.
If you look at the data, there are many points in time in just the past 6 months where my FAKO was too high and would lead to denials, or my FAKO was too low and make me avoid apping.
Do not use Vantage Score for any purpose, not even trending. I had nearly a 700 FAKO back in March versus a 500s FICO.
Out of curiousity, why do people refer to these scores as "FAKO" rather than VS 3.0? I mean I guess there are exceptions, but I'd say that 9 times out of 10 that someone says "FAKO" they are referring to a VS 3.0 score.
@Anonymous wrote:
@MakingProgress wrote:
By watching my FAKO and my FICO I have seen that an upward or downward trend on one is usully reflected as an upward or downward trend on the other. That said when something strange happens as it has in my OP that has usually not been reflected in my FICO scores.
So while a FAKO is a FICO it does have its uses.
FAKO trends are not what you think they are.
Here is my FAKO versus FICO trend lines. Watch how they go in opposite directions often.
If you look at the data, there are many points in time in just the past 6 months where my FAKO was too high and would lead to denials, or my FAKO was too low and make me avoid apping.
Do not use Vantage Score for any purpose, not even trending. I had nearly a 700 FAKO back in March versus a 500s FICO.
Not sure what is going on for you, but when I look at trends it works for me. Maybe because I am gardening and the only changes to my profile are when baddies drop off, and another month of account ageing. It will be interesting to see my FICO 8 score when I next get it on the 10 of the month.
I got a credit alert from experian this morning saying my score had changed. So when I checkthe alert I see an increase of 54 points.
MY NEW FICO 8 IS 675! This moved me from fair to good.
I am turly Making Progreess.
So the movement in my FAKO scores is trending up and the movement in my FICO scores is moving up.
So in my case the FAKO scores are a good indicator of movement in my FICO scores.