Anyone know how far off FAKO is from FICO? Are any of the scores we can "buy" anything close to the actual scores on CR's a lend will pull?
There have been discussions about the FICO score car dealers and mortgage lenders see being different than the ones we purchase from myFICO.com In my case, the fakos are usually lower than my FICOs - you can see in my sig.
People who have found that when credit is pulled they get a different fico score as opposed to what is on myfico.com is because many lenders do not use the new scoring algorythm the fico uses now... there are many different versions.. just like WINDOWS windows 95 is most certianly different than windows xp... it is the same with scores if the lender is using a different version you get a different score.. FOR INSTANCE: I just got a mercedes e55 at the mercedes dealer my score was 765 but myfico.com score was only 730 on that day... different older scoring system gave me a higher score.. As far as fako they are way off anyways so know should care cause they dont matter... Kev
And some lenders see the exact same thing. I pulled on myfico.com right before I went to my credit union and applied for a auto loan. The scores were identical. Just depends on where you go. As far as FICO vs FAKO, they usually are different - but IMO - only because your report is different. For the longest time, my scores were 15-20 different all the time. Now, my EQ report is clean and myfico.com gave me a 723. PG gave me a 724. The only difference was that PG had 1 more inq on it's report.
