FICO vs. FAKO – Share your FAKO stories

[Anonymous]

I knew Credit Karma was more of a guessimate, but Capital One, Discover and Amex all show different scores. I know some used Experian others TU and EqxFax. Just odd something as curcial as your real Fico score can be varied from all these sources.

[Queen_Etherea]

1. Where did you get your FAKO score?     Credit Karma
2. Which FAKO score did you receive and from which bureau?     621 TU (dropped 54 points!)
3. Where did you get your genuine FICO® Score?     Amazon Store Card
4. Which FICO® Score did you receive and from which bureau?     680 TU (increase of 14 points!)
5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful)     None
6. Share your FAKO story (What was your first impression when you received your FAKO score? How did you figure out that it was not a FICO® Score or that it was different than a FICO® Score? How did the FAKO score impact your loan/credit experience? )

I received an alert from Credit Karma stating that my score had dropped a whopping 54 points! The only reasons it gave were my utilization increased from 21% to 22% and my loan balances increased by a little over $200. In reality, my TU FICO score increased by 14 points because I paid off a medical collection account and it finally updated to my reports. Also, all late payments were deleted by TU.

It honestly made me feel awful! I felt like all my hard work was for nothing. I hate these stupid Vantage 3.0 scores and the way they make people feel. I try to ignore them and just use CK for informational purposes, but it can still get to you sometimes.

[Anonymous]

Nah, pay those VS 3.0 scores no mind. 

If your FICO scores are on the rise, that's a great thing and what actually matters.

[Anonymous]

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@Queen_Etherea wrote:

1. Where did you get your FAKO score?     Credit Karma
2. Which FAKO score did you receive and from which bureau?     621 TU (dropped 54 points!)
3. Where did you get your genuine FICO® Score?     Amazon Store Card
4. Which FICO® Score did you receive and from which bureau?     680 TU (increase of 14 points!)
5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful)     None
6. Share your FAKO story (What was your first impression when you received your FAKO score? How did you figure out that it was not a FICO® Score or that it was different than a FICO® Score? How did the FAKO score impact your loan/credit experience? )

I received an alert from Credit Karma stating that my score had dropped a whopping 54 points! The only reasons it gave were my utilization increased from 21% to 22% and my loan balances increased by a little over $200. In reality, my TU FICO score increased by 14 points because I paid off a medical collection account and it finally updated to my reports. Also, all late payments were deleted by TU.

It honestly made me feel awful! I felt like all my hard work was for nothing. I hate these stupid Vantage 3.0 scores and the way they make people feel. I try to ignore them and just use CK for informational purposes, but it can still get to you sometimes.

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I completely agree with you.  Credit Karma can be deceiving.  Don't pay any attention to those fake scores because they are not the scores that lenders care about.  

Keep up the fantastic work!

Love,

iMacGuy

[JBJBJB1]

My FICO is not really right either and is also FAKO.

Only one out of three of the credit cards I applied for in the last 2 years used FICO scoring.

Chase amazon used something called Credit Risk Acquisition Score V2. Amex Macy’s used a proprietary version of Vantage score. Neither matched any of my FICO scores OR my Vantage score. In fact they scored me 35-50 points higher than my FiCO. Only the AMEX everyday card used FICO 8.

My mortgage company provides a FICO9 report as a Courtesy but they don’t use that scoring model for mortgage applications.

I think the mortgage scoring on my FiCO is correct, but there is no guarantee that any creditor will use my FiCO

[Anonymous]

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@JBJBJB1 wrote:
My FICO is not really right either and is also FAKO.

Only one out of three of the credit cards I applied for in the last 2 years used FICO scoring.

Chase amazon used something called Credit Risk Acquisition Score V2. Amex Macy’s used a proprietary version of Vantage score. Neither matched any of my FICO scores OR my Vantage score. In fact they scored me 35-50 points higher than my FiCO. Only the AMEX everyday card used FICO 8.

My mortgage company provides a FICO9 report as a Courtesy but they don’t use that scoring model for mortgage applications.

I think the mortgage scoring on my FiCO is correct, but there is no guarantee that any creditor will use my FiCO

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Allthough this is true sometimes, I believe this to be relative to one's situation and banking habbits.  I am, for instance, subject to many banks that use FICO as the standard score.  (FICO 8 for most, FICO 9 for Ollo...)

Anyways, I do not bank with Chase or Amex.  This is interesting considering the different scoring methods.  I tend to believe MyFico more than any other scoring model due to the complexity and accuracy of a true "Credit Score".

[Gonzozap]

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@JBJBJB1 wrote:
My FICO is not really right either and is also FAKO.

Only one out of three of the credit cards I applied for in the last 2 years used FICO scoring.

Chase amazon used something called Credit Risk Acquisition Score V2. Amex Macy’s used a proprietary version of Vantage score. Neither matched any of my FICO scores OR my Vantage score. In fact they scored me 35-50 points higher than my FiCO. Only the AMEX everyday card used FICO 8.

My mortgage company provides a FICO9 report as a Courtesy but they don’t use that scoring model for mortgage applications.

I think the mortgage scoring on my FiCO is correct, but there is no guarantee that any creditor will use my FiCO

______________________________

The "FAKO" term is not meant to imply which creditor uses the score.  "FAKO" merely implies the score may not be accurate and reliable relative to what the creditor might pull.  No one can control whether or not a creditor develops and uses it's own scoring model.  Quite a few of them have proprietary models.  The fact remains that FICO scoring models are the mainstream and it's FICO that we need to be concerned about.  Mortgage lenders use a different version of FICO that is generally beneficial to the consumer.  FICO is not FAKO.

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[Anonymous]

From my experience, credit karma is extremely accurate. It has my Vantage Score 3.0 at 767 and my FICO score 8 from Discover is 766. Both are TransUnion data. The only difference is that Creditkarma updates their scores more frequently. It seems like most people who see the biggest discrepancies are ones who have poor credit. I don't even understand how people get below 700 if you pay on time. I've only had credit for about 6 months.

[Anonymous]

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@Anonymous wrote:
From my experience, credit karma is extremely accurate. It has my Vantage Score 3.0 at 767 and my FICO score 8 from Discover is 766. Both are TransUnion data. The only difference is that Creditkarma updates their scores more frequently. It seems like most people who see the biggest discrepancies are ones who have poor credit. I don't even understand how people get below 700 if you pay on time. I've only had credit for about 6 months.

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This is nice, but certainly not the majority experience. I too have scores in the mid to high 700's, and currently CK has my TU score 56 points lower and my EX score 29 points lower than my true FICO scores.

People sometimes do not manage their credit well, or come across extenuating circumstances that play a role in developing credit card debt. Thankfully, those who have had struggles with their credit or just want to improve their scores or get advice can find a supportive environment here. 

[Anonymous]

Wells Fargo FICO - 799 (using FICO Score of 9)

Chase VS 3.0 - 790

CreditKarma - 790/793

Discover FICO - 811! (FICO score 8 and TU data)

Mint - 791

Farely consistent throughout. Never checked from a real site. Unless Wells counts?