@Anonymous wrote:
Question? What makes myfico scores more legitimate than scores from sites powered by Equifax, etc.?People keep saying to disregard scores given by banks, CCs, etc. This is a little off because regardless of what your fico scores are, the lenders are going to use their "supposed" fako scores.
My score from NFCU was way off from myfico score by 60 points. Hence, what good is it to have a high myfico score and your other scores suck? NFCU assured me that they pulled from Equifax and advised me to ask them about my score. When I pulled my report from Equifax, sure enough, my scores matched NFCU. How can FICO tell the CRAs that they're scoring models are wrong and that they're fakos? They are the CRA! It seems more like myfico is actually the fako. Lenders will pull from the CRA not myfico. Insight please!
Not sure who you're talking to but to clarify some things:
The only score that matters is what the lender pulls on an application.
Yes there are a slew of different FICO scores, and FAKO scores, and a bunch of others; however, other than FICO ones and Vantage flavors there's nothing accessible by the consumer: if a lender uses an internal score, not a darned thing we can do about it.
In some cases you know what you're going to get: 99.9% of the mortgages underwritten in the United States are on EQ Beacon 5.0, Transunion Classic 04, and Experian Risk Model v2; for the rest, you don't really. My own recent adventure post mortgage:
JCB: FICO 8 and FICO 98 (boggle)
FIA: FICO 8
Cap 1: FICO 04
Chase: presumably FICO 8
Penfed: the obscure FICO Nextgen v2 I believe.
FICO 8 is the most dominant pull by a lot here in the US, but lenders can choose what they want, and it sounds like NFCU is underwriting on the EQ Beacon 5.0 algorithm, which isn't what's sold here these days for Equifax on the monitoring solution. I'm firmly of the opinion that people should monitor their credit scores; however, what form that takes is dependent on individual need... some people do just fine with the freebie Credit Karma monitoring, and others want the full monty from one of a slew of different paid options.
End of the day, a pretty report will result in a pretty score regardless of algorithm selected, so put as much lipstick on the pig as possible and you'll be fine.
Not sure where are you looking at scores, but MyFico has given me 19 different scores ranging from a low of 578 (Experian Score 3) and a high of 672 (Transunion FICO Score 4).
My FAKO scores range from a 628 on Wisepiggy to a 702 on CreditSesame.
Different places use/create different scores. You can't get angry at the provider, you just have to look at the score as a point in time picture. If they are bad, it's your fault, good, still your fault. 
The thing I look for is an upward trend that I hope to be seeing soon. That's what's important at this point.