FAKO/FICO discrepancy

[Anonymous]

I understand the difference between FICO and FAKO, but shouldn't they be SORT of close to each other?

My truecredit EQ is 577. Five. Seventy. Seven.

My FICO EQ is 703.

*clings tightly to FICO score*

So, there's no chance credit card companies would see that 577 ever linked with my name, right? I was thinking maybe THIS is why I'm having trouble getting a card?

[haulingthescoreup]

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@Anonymous wrote:

I understand the difference between FICO and FAKO, but shouldn't they be SORT of close to each other?

My truecredit EQ is 577. Five. Seventy. Seven.

My FICO EQ is 703.

*clings tightly to FICO score*

So, there's no chance credit card companies would see that 577 ever linked with my name, right? I was thinking maybe THIS is why I'm having trouble getting a card?

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No, they're not seeing your TC score. Cling away!

What's going on on your reports, all three, not just EQ? You can have a nice decent score in the low 700's with some pretty horrible derogatories on your reports, as long as they're not recent. You could have the same scores because you used to have a 790, and a 30-day late just hit. You might have some sort of automatic thumbs-down on your reports. And are you sure you're app'ing CCC's that pull EQ, and not EX or maybe TU?

But there's no real correlation between FICO's and FAKO's, because they're generated by different formulas. Imagine there are formulas for "cutest kid in 7th grade." There might be one or two factors that are the same in every formula like pretty/handsome and outgoing personality. But there are other factors than won't be on every formula, or will be ranked higher on one and lower on another, like friendly, smart, good dresser, athletic, short, tall, won't talk to me in the hallway between classes, and on and on. (We all remember 7th grade.) So the scores from the cute kid formulas are going to vary, sometimes by a lot.

I'm happy that FICO thinks you're way cuter than TrueCredit!

[Anonymous]

Thanks, I was pretty sure of that, I just wanted the extra assurance! I'll stop hyperventilating now.

I love your cute kid metaphor!

TU is 715, EX is 698, EQ is 703 (FICOs). I don't know why I keep getting turned down. (i've posted about this in the CC forum.) I mean FLAT turned down. Not "why not take this crappier card instead?"

I did pay an old collection, which only EX lists as a baddie, the other two just list it as a late payment. It had almost no effect on my scores.

I finally reconned Chase and they said I never verified my address, but I never got the letter. I told them to resend the mail and I'd take care of it. We'll see....but I mean, Capital1 turned me down, and I used to HAVE one of those! It was a rebuilding phase, I think it had a 300 dollar limit to start, and I don't remember what it got up to. But I closed it on my own, in good standing.

[Lel]

There is almost no way to predict how closely FICOs and FAKOs are going to be. My DW, for example, had a Vantage score of 972 (nearly the maximum) but had an EQ FICO of 759, well below the maximum. You'll find some folks out there in the blog world who have seen a strong correlation between FICO and FAKOs, but it's not consistent.

FICO scores are whimsical enough as it is, so you'll have plenty to think about with the genuine product without having to worry about the pretenders.

[Junejer]

Here's how goofy FAKOs are. Today from TC (A TU product) my TU FAKO is 643. Also today Credit Karma (which pulls a TU score) is 651. My real TU FICO is 664. TC EQ has me at 704, while my EQ FICO is 788. FAKOs are goofy.

[Lel]

Hmm, ByrdMan, your numbers also show that the real FICO can be pretty goofy too. Your TU and EQ FICOs are 120 points apart. How did this happen?

I've pulled FICOs from EQ and EX only. Your result makes me curious about the TU score now.

[Junejer]

Nope, the FICOs are fine. TU is reporting some residual baddies (in error on me), which belong to my ex. There are material differences in what's being reported on my three reports. I don't have a problem with the scores, only that they are reporting garbage.

[Anonymous]

I'd be a millionaire if I was paid $1 for everytime someone asked "Why aren't my FICO's and FAKO's about the same?"

Unfortuanately, people don't read the "Frequently requested threads" at the top of each section before posting this subject over, and over, and over, and over, and over........................................................

[marty56]

I rather sell Marty credit scores that are guaranteed to be at least as good as your FICO score and if they are not, they next time you "pull" them they will be 10 points higher then last time.

[Junejer]

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@marty56 wrote:

I rather sell Marty credit scores that are guaranteed to be at least as good as your FICO score and if they are not, they next time you "pull" them they will be 10 points higher then last time.

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You wouldn't have to charge as much either. You'd make a killing.