HELP!!! WTH is going on?!?!?!

[Anonymous]

Hello!I found this site because I just got the most disturbing news EVER!

My husband and I are trying to buy a house.  Credit not super but tolerable.  I put all our bills on autopay so that none are late, always pay more that the minimum, etc...  Anyway, I pull a report from FCR.COM and I was totally happy and surprised to see that our score went up.  I immediately call the mortgage guy and was totally excited!  We are talking about a 5-10 minute time frame here, he pulls the report from cbc innovis  and the report he got was sooo far off that I almost fell off my chair!  According to CBC  the eqfax was 72 points lower than fcr, TU was a whopping 83 points lower and exper was 62 points lower! 

What the hell is going on?!??!  I called FCR and got a bs line about how inqs lower your score and blah blah blah. She asked me how long ago I got the report in regards to when my mortgage guy pulled it and I told her 5-10 minutes.  She put me on hold and came back with the same crap.  I hung up on the lady and I am totally freaking out!  Please help me, I need advice.

[haulingthescoreup]

Hi, welcome to the forums, and sorry it's under such circumstances!

The scores you get from free-credit-report-dot-com are not FICO scores, but what we call FAKO's. No one knows what the formula behind them is, and they aren't used by lenders. But report resellers and others make a ton of money off of consumers who don't realize.

[Anonymous]

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@haulingthescoreup wrote:
Hi, welcome to the forums, and sorry it's under such circumstances!

The scores you get from free-credit-report-dot-com are not FICO scores, but what we call FAKO's. No one knows what the formula behind them is, and they aren't used by lenders. But report resellers and others make a ton of money off of consumers who don't realize.

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Did not know that (fortunately I have never paid for it). 

So if I want to see "real" nuumbers I have to use myfico.com? Little confused about.

[llecs]

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Buckzball wrote:

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@haulingthescoreup wrote:
Hi, welcome to the forums, and sorry it's under such circumstances!

The scores you get from free-credit-report-dot-com are not FICO scores, but what we call FAKO's. No one knows what the formula behind them is, and they aren't used by lenders. But report resellers and others make a ton of money off of consumers who don't realize.

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Did not know that (fortunately I have never paid for it). 

So if I want to see "real" nuumbers I have to use myfico.com? Little confused about.

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When I first started to rebuild my credit, I thought all scores were FICO scores. One of the first places I signed up at was Freecreditreport.com (their jingle lured me in). Luckily, I stumbled onto here and learned the differences between FICO scores and the "other" scores we call FAKOs.

95% +, I bet, of lenders out there use FICO scores. Other companies try to compete with and/or profit from the concept of a "score". Companies like EX and TU, and dozens of others, have developed other scoring formulas to try to compete. These other scores, called FAKOs, include the VantageScore, PLUS scores, TransRisk scores, and so many others and come from sites like freecreditreport.com, truecredit.com, creditchecktotal, privacyassist, creditkarma, creditreport.com, experian.com, transunion.com, Chase ID Protect, and many, many more.

There are a limited number of places you can get your FICO score. Aside from getting them from a lender that pulled them, you can get both your EQ and TU FICO scores from this website. You can also get your EQ FICO score from Equifax.com (EQ and FICO partnered up). You can also get your TU score from transunioncs.com (note the -cs). To the best of my knowledge, you can't get your scores from anywhere else. As of 2/2009, EX stopped allowing consumers to pull their own FICO score (with a couple exceptions).