tmac01 Posted December 16, 2009 Report Share Posted December 16, 2009 My FAKO score for TU is 770 but my FICO is 718. I always thought it was the other way around and the FICO was usually 30-50 points higher than the FAKO Link to comment Share on other sites More sharing options...
willingtocope Posted December 16, 2009 Report Share Posted December 16, 2009 There's no real correlation. They're different. Sometimes higher, sometimes lower. Link to comment Share on other sites More sharing options...
tmac01 Posted December 17, 2009 Author Report Share Posted December 17, 2009 Thanks WTC I just see my Fakos going up on my CMS and I kept saying " Wow I'm getting close to the 800's " yeah right Link to comment Share on other sites More sharing options...
Rain man Posted December 17, 2009 Report Share Posted December 17, 2009 I have never even heard of a FAKO. I predict an internet search in about to occur... Link to comment Share on other sites More sharing options...
Rain man Posted December 17, 2009 Report Share Posted December 17, 2009 Now I get it, "fake" FICO, or the credit reporting agencies idea of what your FICO should be. Link to comment Share on other sites More sharing options...
tmac01 Posted December 17, 2009 Author Report Share Posted December 17, 2009 Now I get it, "fake" FICO, or the credit reporting agencies idea of what your FICO should be.Sort of its a different scoring system that is used. When ever you apply for credit they always check your FICO scores and you can only get your EQ and TU scores from MYFICO.com ...... FAKO's are just to give you an idea but they are always off and never accurate Link to comment Share on other sites More sharing options...
Bigwoodystyl Posted January 7, 2010 Report Share Posted January 7, 2010 My FAKO score for TU is 770 but my FICO is 718. I always thought it was the other way around and the FICO was usually 30-50 points higher than the FAKO FAKO and FICO differ especially at the outliers, since those are the hardest to predict as there is less data. If you're in the middle of the pack, FAKO can be helpful for trending, especially if you're getting one free every so often. If you have good or bad credit, then I wouldn't even look at FAKO for two reasons. (1.) FICO is the score lenders use.(2.) FICO hires hundreds of PhD in predictive modeling, computer science, engineering, mathematics and they also hire actuarial fellows. [iOW, there is a reason it's the score lenders use] Link to comment Share on other sites More sharing options...
Fairy Enchantress Posted January 10, 2010 Report Share Posted January 10, 2010 (edited) There is FICO ,the Fair Isaac credit score "FICO", and the ones supplied by the credit bureaus, which we call FAKO scores. FAKO sores are just the credit bureau's guesses at what your FICO score should be.The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way. PS.If anyone can tell me why the way FICO scores are calculated is kept secret I would love to know and am all ears to you. Edited January 11, 2010 by Fairy Enchantress Link to comment Share on other sites More sharing options...
Bigwoodystyl Posted January 11, 2010 Report Share Posted January 11, 2010 PS.If anyone can tell me why the way FICO scores are calculated is kept secret I would love to know and am allears to you.Intellectual Property. They pay hundreds of people six figure salaries to develop their model. Why would they give it away to the public? Link to comment Share on other sites More sharing options...
gundar.twinklefluffy Posted January 11, 2010 Report Share Posted January 11, 2010 There is FICO ,the Fair Isaac credit score "FICO", and the ones supplied by the credit bureaus, which we call FAKO scores. FAKO sores are just the credit bureau's guesses at what your FICO score should be.The truth is, only Fair Isaac knows how FICO scores are calculated, and their formula is kept very secret. Other credit scores can sometimes come close to the mark, but they can be off by as much as 100 points either way. PS.If anyone can tell me why the way FICO scores are calculated is kept secret I would love to know and am allears to you.Can you contact Fair Isaac and ask them for a report of the data they are basing the actual report on? I notice there are some things online in my credit report that are not in the paper one an agency sent to me. I expect there are somethings that may be data inconsistencies from them as well. Link to comment Share on other sites More sharing options...
Fairy Enchantress Posted January 11, 2010 Report Share Posted January 11, 2010 Here is the number and link to My Fico 1-800-319-4433 http://www.myfico.com/Products/FICOOne/Description.aspxMaybe you just have different items on your credit report because of different dates that you received them on.(Things get added and dropped all the time.) GOOD LUCK with your credit repair journey! Link to comment Share on other sites More sharing options...
Bigwoodystyl Posted January 12, 2010 Report Share Posted January 12, 2010 Can you contact Fair Isaac and ask them for a report of the data they are basing the actual report on? I notice there are some things online in my credit report that are not in the paper one an agency sent to me. I expect there are somethings that may be data inconsistencies from them as well.Fair Isaac doesn't compile credit data. They only score it. Anything on a Fair Isaac report came from somewhere else. Link to comment Share on other sites More sharing options...
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