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FICO vs. FAKO – Share your FAKO stories

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Established Contributor

Re: FICO vs. FAKO – Share your FAKO stories

Credit Karma has me at 654 TU/651 EQ. My FICOs are 729 TU/712 EQ.

 

It used to be pretty close until they switched to Vantage. 


Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 21 of 338
Valued Contributor

Re: FICO vs. FAKO – Share your FAKO stories

That is a huge difference. Fair lender vs good lender!


AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX Bonvoy Business 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Hilton Honors Business 10k (AU), AX Delta Air Platinum 15k, (AU) AX Platinum Amerprise charge card (AU), AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , Discover (2) 16k, Kohls-4k, VS Comenity $2k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $8k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Go Rewards 35.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target 2k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 740,TU 748,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 22 of 338
Valued Member

Re: FICO vs. FAKO – Share your FAKO stories

A little of topic, but a few years ago, I had signed up for score watch and was in the process of rebuilding my credit. I saw my FICO score moved from 525 to over 700 and was super excited to see such an improvment. I tried to applied for an auto loan for just a fairly small amount of 10k and was embarrassingly declined. What I found that is more important than your FICO score is, what is in your credit report.
Message 23 of 338
Contributor

Re: FICO vs. FAKO – Share your FAKO stories

 


  • Where did you get your FAKO score? Credit Karma currently
  • Which FAKO score did you receive and from which bureau? TU 561 and EF 564 
  • Where did you get your genuine FICO® Score? TU 595  and EF 607
  • Which FICO® Score did you receive and from which bureau? MyFico Credit Monitoring 
  • What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful) Auto loan (back in May when myfico score was about  550)

I noticed that for some reason my Credit Karma has been a lot lower, anywhere from 25-60pts, from the MyFico. MyFico was spot on from the what the bank pulled for the auto loan. I decided I just need to wait until the end of the year and I hope to be in the 620-630's. 

 

myFICO's : EQ: 643 // TU: 635// EXP:645

WALLET: Victoria Secret $650 | Simply Be $850 | BOA Cash Rewards $300 I Cap 1 Secured $500 | Cap 1 Plat $4k |Chase Freedom $2.2k l Full Beauty $450 l Woman Within $450 l Wayfair $1.2k l Citi Double Cash $700 l Game Stop $300l Overstock $1K l Lane Bryant $300 l Ulta $750 l Walmart $700 l Target Red $1k
Amazon Chase $1k l Kohls $300
Message 24 of 338
Regular Contributor

Re: FICO vs. FAKO – Share your FAKO stories

  1. Where did you get your FAKO score? Credit Karma and Credit.com
  2. Which FAKO score did you receive and from which bureau? Credit Karma is soooo off. My TU says 516 and my EQ says 546
  3. Where did you get your genuine FICO® Score? Credit Check Total
  4. Which FICO® Score did you receive and from which bureau? Current Fico Scores are: TU 589, EX 545 EQ 580
  5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful) I believe my new credit cards are helping me rebuild. I filed bk 03/15/2015 and was discharged 06/15/2015. My scores were in the mid to low 400's. I'm coming along nicely. I believe I will be atleast 663 by Jan/Feb
  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? I knew FAKO scores were fake by reading and researching. How did the FAKO score impact your loan/credit experience? ) I never cared or knew much about anything in reference to credit scores until coming here. Looking back, I've gotten car loans with no money down even while having a car loan at the time. I did not even know my score at that time smh. I'm glad, I know more now because having good/excellent credit improves your quality of life.

Credit Check Total Starting Fico Scores 06/15/2015:EQ484/TU459/EX498
Credit Check Total Fico Scores 03/01/2016:EQ603/TU607/EX609
CC's:Cap1 Platinum/Cap 1 QS1/CreditOne/Fingerhut
~Gardening Until June 2016~

Message 25 of 338
Senior Contributor

Re: FICO vs. FAKO – Share your FAKO stories


@jfriend33 wrote:

1. Credit Karma/Credit Sesame

2. TransUnion and Equifax

3. Prior to joining membership here, I got my TU from capital one and Experian from Commerce Bank

4. I don't know which one they use, I assume 08, experian???

5. My first impresion was great. It still is great. Don't get me wrong, one is far superior to the other, but they both have uses. I feel like everyone should be able to have these everyday for free though. You shouldn't have to pay, to play the game.  I figured out it was different when I read up about it here.  My fako score was always close enough for me. I obtained half of my current cards with a fako.  Now that I am going for higher score, I am taking things more seriously, and obviously wanted a daily score of experian too.  Can't take chances, and having a score of 690, vs 705, can be the deciding factor for some lenders. I have actually found that my real fico scores are higher than my fakos.


my scores arent so similar now after adding all these accounts. even with up to date info coming from both, my current CK scores are:  TU: 654 and EQ; 678.  That is a huge difference.  Now I kind of understand how they are not so accurate!!!

EQ 730, TU 730, EX 720. INQs EQ-1, TU-9, EX-7 AAOA 4yrs Util 6% Inspiration: Themanwhocan's Cash Back Charts
Message 26 of 338
New Contributor

Re: FICO vs. FAKO – Share your FAKO stories

I think what is hurting me the most is my recently Completed CH13 and 4 old accounts that are showing up negatively.  All 4 accounts are about 6-10 months from dropping off.  It seems my real Fico scores are weighing them (4 derogatory accounts) heavier than all the Fako scores I have gotten.  (ranging from 640-702 last month).  I just had a new capital one card show up on my reports and my CK scores are now 712 TR and 720 EQ while my Fico scores are only at 595 TR and 631 EQ.  My Trans union score pulled from Capital one has me currently listed as a 668.  I am purchasing a new car in 2 weeks so I will report back with how I do.  I'm looking putting 40-50% down on the car.  I know my scores will most likely improve in 6-10 months so I will be able to refinance whatever rate I recieve.  

 

PS I do have at least 5 past auto loans and 4 CC that show up positive and closed.

Discharged Chapter 13 late 5/15. Starting my rebuild:
7/28/15 Fico 8: EQ 567-Trans 534-Ex 542-----8/28/15 Fico 8: EQ 632-Trans 622-EX 625
9/25/15 Fico 8 EQ 663-Trans 634-EX 645-----12/9/15 Fico 8: EQ 673-Trans 654-EX 663
2/17/16 Fico 8: EQ 670-Trans 658-EX 676-----3/4/16 Fico 8: EQ 686-Trans 667-EX 686
Message 27 of 338
Valued Member

Re: FICO vs. FAKO – Share your FAKO stories

Pulled my Fico scores today and surprisingly, Credit Karma is the free FAKO I use, by the way, and they were quite close.

 

CK TU 650

Actual FICO TU8 646

 

CK EQ 648

Actual FICO EQ8 648

NFCU CashRewards $7k | Chase Freedom $3.5k | Capital One Quiksilver Visa $3.2k | Navy Federal goRewards $2k | Discover It $1.2k | Cabela's Visa $1000 | Kay Jewelers store card $1k | Amazon Store Card $700 | Fingerhut $214 | $19814 total CL
Scores as of 12/10/15
EQ8-631 | TU8-654| EX8-664
Entered the garden on 12/10/15

Message 28 of 338
Frequent Contributor

Re: FICO vs. FAKO – Share your FAKO stories


@longtimelurker wrote:

@Kelsey_H wrote:

Hey there forums members! Have you ever been impacted in your financial journey to obtain a new loan or credit card by relying on a “credit score” you thought was a FICO® Score?  We want to hear your story. Genuine FICO Scores are used in over 90% of lending decisions, while other “credit scores” (often referred to as FAKO scores) are rarely or never used by lenders to grant credit. Your story could help other consumers who find themselves in a similar situation. Have a FAKO story you’d like to share? Simply reply to this thread with your answers to the questions below.

 

  1. Where did you get your FAKO score?
  2. Which FAKO score did you receive and from which bureau?
  3. Where did you get your genuine FICO® Score?
  4. Which FICO® Score did you receive and from which bureau?
  5. What type of loan/credit were you applying for? (type, rate, terms, etc. are all helpful)
  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? )

How about stories where the lender used a different FICO version than those that were available here?


DCU supposedly reports a true FICO but it is a go 20-30 points lower than the FICO that I get on this website.  I had called DCU once because I was interested in applying for their credit card and they told me that I had to have a 620 EQ to qualify.  At that point, myFICO was showing I was in the low 620s... applied and got declined with DCU showing an EQ of sub 600.

 

Up until the beginning of this year, I subscribed to EQ's credit monitoring.  I was SOOOOO dejected because it showed my credit score as low 500s.  I signed up for myFico and was stunned to learn that my scores were much closer to 600 (still not great but still -- when you are that low, it really makes a difference).

Starting Over Again after Cap1 Death Penalty:
06/18/2019:
09/06/2019:
BACK in the garden for the rest of my life!
Message 29 of 338
Contributor

Re: FICO vs. FAKO – Share your FAKO stories

For the past three months I have PIF on my credit cards. I decided this  month I was going to leave a 2% balance on one of my cards. My fico scores went up by an average of eight points and my vantage score went down by one point. 

As of 09/05/18 FICO8 scores EX 766 EQ 755 TU 751
AAoA 2.9years
AMEX ED [10500] CSP [6000] Regions [4500]
Message 30 of 338
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