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FICO vs. FAKO – Share your FAKO stories

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Moderator Emerita

Re: FICO vs. FAKO – Share your FAKO stories


@Jrs wrote:

My fico is a subsidary of fair isaacs lending so the my fico.com you go to and get your (true fico) is not your true fico, it is not the score lenders see, if you truly want the score lenders see you will have to ask the person that you applied for credit to and ask them to show your real score, so my fico are fakes also


This information ^^^is not correct.  There are many different versions of FICO scores and different lenders use different versions.  If you are trying to compare the FICO 8 version to the FICO mortgage scores, then you will see different results because they are different algoriums. Find out first what FICO version your lender is using for the credit you are seeking and then pull that score.  It doesn't help you to look at a different algorium and assume your score will be the same.

Message 71 of 338
New Member

Re: FICO vs. FAKO – Share your FAKO stories

1. Credit Karma
2. Transunion 692 & Equifax 715
3. MyFico.com
4. Transunion 630 & Equifax 642 Experian 637
5. None
6. I haven't tried to apply for any loans yet, but I would like to apply for an auto loan and a mortgage down the road within the next few years. This is why I didn't mind paying the $30/month to get my real scores. In addition, I also get the other versions such as Auto, Mortgage, and Credit Card FICO versions.

Message 72 of 338
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Up until last August, I didn't have bad credit. I just didn't have much credit at all. A small installment loan a few years ago that was always paid on time, and I have been an authorized user on a credit card for my employer since 2002. That's it.

 

Then I decided to get serious about credit. I found out (through a new American Express account) that my FICO 8 was 739 from Experian. (I was kind of shocked and thrilled that it was that high!). Soon after, I registered at Credit Karma. I was equally shocked, but not nearly as thrilled, to find my Vantage scores from Equifax and TransUnion were both in the low 600s. At that time I thought Vantage and FICO were supposed to be roughly the same, so I was confused. I figured there must be some difference between the information on Experian and the other two. There wasn't. It was just the difference in the scoring models.

 

Over the last five months of opening five credit cards (two using the Shopping Cart Trick), keeping my utilization low (like less than 2%), and paying on time, I've seen the the scores climb at roughly the same rate. Late last week, my Vantage scores were 690 at both Equifax and TransUnion and my FICO 8 was 798 at TransUnion (the most recent score I have).

 

I'm not sure if it's just my unique situation that creates a 100 point difference in the two scores or what, but for me Vantage is useful to see relative movement in the score, but it really only gives me a rough idea of what's going on.

Message 73 of 338
Highlighted
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories

My current CK Eq score is 647, Fico 8 - 741. Very happy it is not the other way around

 

A couple of months ago I had a fraudulent Collection that was removed. Tu was slow to take it off. My CK TU score was 30 points higher than my CK EQ score even with the Collection reporting only on TU. Go figure...

 

I have old closed accounts and very few open new accounts. Fico counts them all, VS doesnt seem to like this much.

"I am not young enough to know everything" OW

Low 589 Apr 2013 - Current Fico: Ex 793, Eq 787, TU 789
Message 74 of 338
New Contributor

Re: FICO vs. FAKO – Share your FAKO stories

I used to work for a credit card company, won't say which, but it happened to their customer frequently. I worked in customer service and if a customer utter any number of key phrases, finacial distress would be silently indicated and credit lines decreases were soon to follow.

 

As of right now, I can only dream of that high of a credit line...lol. I'm not even sure I would have a use for that much purchasing power on a card. 


2/8/16 EQ: 523 TU: 574 EX: 494 (a long way to go)
3/10/16 EQ: 559 TU: 633 EX: 544 (on my way up)


Message 75 of 338
Established Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Hi, I have been following these boards for awhile now, but this is my first post.

 

It's nice to see people facing CK vs FICO extremes, just because then it's not just me.

 

My FICO scores (from AMEX, Barclays, and listed on letters from the banks) are in the low-to-mid 700s (roughly from a low of 715 to a high of 740)

 

CK has me currently at about 650, but I have been as low as 635 a few weeks ago, and I have never seen that score above 700.

 

I was concerned that my scores weren't very good based on what I was seeing on CK, but when the scores from the actual application for credit are 75-to-nearly-100 points higher, that just seems wrong.

Message 76 of 338
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Capital One's Credit Tracker shows me at 562

 

Merrick's Go Score shows me at 609

 

That's a big difference when you're below 620 and I want to buy a car this year Smiley Sad

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 77 of 338
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories


@Ranger6591 wrote:

FAKO's

TransUnion = Credit Karma (737), Capital One Credit Tracker (735), Discover It - says FICO, but says info is from TU (710).

Equifax = Credit Karma (742).

Experian = Credit.com (697).

 

Pulled from the Credit Bureau Web Sites: (11/23/2015)

Transunion = 737 (clean report, util 2%, no bk, no co, no public, no lates, 3 cards-Chase Freedom, Discover It, Cap One Plat, AAoa 9 mos., 4-Inq's)

( I think they used a Vantage Score Model)

Equifax = 693 (same as above - 6 Inq's)

Experian = 639 (1 - $671 Student Loan Deliq. from 1987, they will not remove, TU & EQ removed due to time, EX says that a co company reported it in 2012, so I'm stuck for the 7 year timeframe,) So, I just put a Security Freeze on Experian and now no one can pull it without my permission or pin number! All else is same as TU & EQ,, 6-inq's)

It seems 9 out 10 pull from Experian for some reason. Figures that my worst score is where everyone goes.

 

I applied for Chase Freedom with a Fako Credit Karma Fako of 630 and was approved for $1200 (7 Months Age). Then, applied for Discover It with the same Credit Karma Fako 620 and was approved for $1250 (8 Months Age). Got a Secured Capitial One Card ( 10 Months Age) to start building and at 6 months they CLI $300, for a $600 Limit. On my 6th month with Discover It, I went on-line and requested a CLI, and was automatically with a SP given a $1000 CLI.

 

Still building, but need to garden to get those Inq's off, and get some time behind me.

 

Any advise on how to continue to build effectively, please let me know.

 

 

 

 

 


Discover is a true TU 08 FICO score.  What was the date the Discover score was based on?  Your score can vary daily.  Based on web research, I discovered that 83% of people experience a change in their FICO score of up to 20 pts month-to-month.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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Message 78 of 338
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories

With respect to FICO and what it's done for the credit industy I strongly believe FICO has become outdated.  The scoring model values metrics which are no longer relevant to today's credit market.  I believe this is the driver behind the switch to VantageScore and other alternatives as they've adapted to the new credit behavior.  When FICO finally realizes how the markets and behaviors have changed and alters it's scoring model they'll start to gain back more usage.




Message 79 of 338
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories


@TwistedCircuits wrote:

With respect to FICO and what it's done for the credit industy I strongly believe FICO has become outdated.  The scoring model values metrics which are no longer relevant to today's credit market.  I believe this is the driver behind the switch to VantageScore and other alternatives as they've adapted to the new credit behavior.  When FICO finally realizes how the markets and behaviors have changed and alters it's scoring model they'll start to gain back more usage.


FICO is still the most widely used and have adapted the model which is why there are so many  versions.  I believe the most current version is version 9.  Lenders use FICO because it has proven to be the most accurate predictive model of risks and it's tested.  

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


Take the myFICO Fitness Challenge
Message 80 of 338
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