Don't Trust Fako scores at all

[Anonymous]

I get Fako score updates every Friday with Credit Karma.

Last Friday my fakos jumped 45 and 41 points.

Probably because I paid off a $6800 collection.

So, here I am all excited to see what my actual TU FICO 8 is today from my Discover It card and...it dropped 2 points -_-

Not sure why transunion hates me, but the last three months I've received 618-618-616.

Experian I've gone from 611-627-636 and my next update is in 12 days.

So, just completely ignore those Fakos newbies, because **bleep**, that stung today expecting to see a decent increase only to get knocked down a peg.

[Anonymous]

I've actually had the opposite problem, CK will show a drop in score and Disco will show an increase. My FICO from Discover has consistently been higher than CK for some reason as well. I just don't trust CK scoring model because it's just too unreliable. I use it to keep track of things on my Equifax and Transuion CR's but that's it.

[Anonymous]

CK has me at 697 up 1 point from 696.  MyFico and CCT both have me correctly at 593 down from 597.

Credit Karma is "fun" but it is just more marketing and advertising for credit products I don't need or want.

Today Credit Sesame sent me an email saying "We updated your mortgage balance!" -- I've never had a mortgage and would never want one.  I'm going to give them a call today asking **bleep** they're talking about, lol.

[Anonymous]

Based on my experience it's because fico treats a paid and unpaid collection the same but the model credit karma uses treats a paid collection better than an unpaid. However if paying it causes the collection to stop reporting it'll age and your fico will start rising each month. At least that's what happened to me when i paid off a medical debt. On the flip side, fico increased 30 points for my new nfcu CC, but CKs fako went down 40 points.

[Anonymous]

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@Anonymous wrote:

CK has me at 697 up 1 point from 696.  MyFico and CCT both have me correctly at 593 down from 597.

Credit Karma is "fun" but it is just more marketing and advertising for credit products I don't need or want.

Today Credit Sesame sent me an email saying "We updated your mortgage balance!" -- I've never had a mortgage and would never want one.  I'm going to give them a call today asking **bleep** they're talking about, lol.

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What is credit sesame smoking? Lol

[Anonymous]

The simulator in CK for credit card payments says I will take a 30-35 point hit if I pay my credit cards down. Not to all $0, but paying it so I have an aggregrate 9% utilization. In FICO's eyes that's the best case scenario, but yet CK says I will lose a lot of points. 

[MrsCHX]

Vantage scores weigh things differently. CK is great for monitoring changes. That's it. It is repeated ad nauseum here to ignore the scores and yet someone is always wound up about their Vantage score!

I lost 40 points on FAKO because my original car loan (which was refinanced) finally updated to PIF. DId my FICOs change? No they did not. 

[rmduhon]

@rookie08 It's not 9% aggregate uti, it's less than 9% of 1 card's limit. So you won't be getting the most points possible.

[Anonymous]

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@rmduhon wrote:
@Anonymous It's not 9% aggregate uti, it's less than 9% of 1 card's limit. So you won't be getting the most points possible.

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Thanks for correcting me on that! Your explanation is what I meant. I tried CK's simulator using the 9% on one card and all others at zero, and it said I would have a 30-35 point loss. 

[Anonymous]

CKs vantage model has been horrific for me. My FICO scores are all in the 650-690 range  all year.

On CK i am down at 550-580.

An old collection dropped off my credit report last month..and one of my CK scores plummeted 42 points!

I believe that the lower scoring and more unstable Vantage score is so you buy some of the high interest loans and "credit repair" services CK has for advertisers.