danni_dee Posted January 20, 2008 Report Share Posted January 20, 2008 Hi everyone! I have been lurking for a couple of weeks and have been reading so much information! I have all this new info and knowledge swimming around my brain cells, sure hope it all settles soon to all make sense! LOL I have pulled my 3 free credit reports, and have several credit card CO, some showing to drop later this year (aug and oct), some obviously seems to be with CAs. 2 good standing/open accounts is 1 yr ago I financed a new car with toyota (yes, have a very high interest rate), and have maintained good payments and also a student loan in good standing. (graduated may 06 and now working as a nurse), so while in school fulltime wasn't able to keep up my credit cards and as you know the rest is history...and is why I am here now.I apologize if these questions have been asked before, but in all my browsing around on the site, haven't found my answers.Question 1: What is the difference between a fico and fako score? does one carry more weight than the other? Question 2: ok, so when you see an estimated date for removal, what does that actually mean? I mean, will it disappear forever, or will a CA come in and re-age it? I went ahead and got two of my scores, from EX (vantagescore) is 677, and TU is 669...(one time payment), on the EQ site I could only find them offering your score if you signed up for monthly cost (not yet willing to do that).ok, so this is my first hello, HI... havent yet done anything (but continually take a deep breath as advised! so look forward to your help on my journey as I know I will have more questions as time goes by. Link to comment Share on other sites More sharing options...
brokeinok Posted January 20, 2008 Report Share Posted January 20, 2008 I apologize if these questions have been asked before, but in all my browsing around on the site, haven't found my answers.Question 1: What is the difference between a fico and fako score? does one carry more weight than the other? Use the advanced search function, then check the boxes for the forum that deals with credit reports and scores. that should pull up enough posts to answer all your questions. you can also change the settings in the adavance search screen so that it only searches for your word in the message header which will narrow down the resultsQuestion 2: ok, so when you see an estimated date for removal, what does that actually mean? I mean, will it disappear forever, or will a CA come in and re-age it? They will try to reage but that is a violation. Date for removal is when it will delete itself from your report without you having to do anything. If the CO's are nearly their fall off date, it's best not to DV them and just let them fall off, especially for small accounts under $1000.I went ahead and got two of my scores, from EX (vantagescore) is 677, and TU is 669...(one time payment), on the EQ site I could only find them offering your score if you signed up for monthly cost (not yet willing to do that).ok, so this is my first hello, HI... havent yet done anything (but continually take a deep breath as advised! so look forward to your help on my journey as I know I will have more questions as time goes by.Good Luck and Welcome! Link to comment Share on other sites More sharing options...
JMVandals Posted January 20, 2008 Report Share Posted January 20, 2008 Welcome!!!! If the outcome wasn't so good I would say turn back while you still can, because this is addicting!! Difference between FAKO and FICO is fairly significant. The FICO is your "actual" credit score using the formula by Fair-Isaac. FAKO is the CRA's way of estimating your FICO. Come places use the Fako in their decision but most use the FICO.Accounts aren't suppose to be reaged. Sometimes they will be, but that is a violation. The estimated date of removal is the estimated date that the TL will stop showing up on your CR. Its related to the DOFD with the OC.Hope this helps and welcome! Link to comment Share on other sites More sharing options...
JMVandals Posted January 20, 2008 Report Share Posted January 20, 2008 dang quick responses, why did I stop typing to watch something that caught my attention on TV. Link to comment Share on other sites More sharing options...
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