I bit the bullet with Truecredit and paid the $15 to see all 3 scores and reports. First thing that had my eyes bugging out of my head were how much lower my scores were compared to myFico's TC EQ 617 mF EQ 683 What the heck? I see so many people praise TC and I finally dive in and I see this?.. Am I missing something here?
TC is good for the tracking aspect, to give you a feel for how your score is trending. As for the credit scores, if you really need to know, then you must get the FICO scores. Do not bother paying money for any other score (again unless you're just monitoring a trend).
I use TC for two reasons. First, I can monitor my progress with specific tradelines that I'm working on for $14/mo rather than $14/per pull with a real FICO. Second, I pull TC 6 days a week because it eventually bumps inquiries from TU and with more pulls, EQ. I fall into the same habit as everyone else and I look at the TC scores, but really they're just crap! Whatever algorithm they're using, it acts nothing like the FICO model. I just had a derog drop from TU and the TC score went from 647 to 671. I don't even have to pull my FICO (which was 685) to know that it didn't jump to 709 - or even remotely near 24 points. But, if you're working on credit items, TC's great (and relatively cheap) to monitor what's showing. I pull a real FICO about once a quarter or if I've just made some real progress on something to monitor where I really am.
This is the best approach, this eliminates the "ups & downs" emotionally as well as with the formula. But TC is the most economical way to do what you need. It sounds like you're very aware that the TC scores are just a reference.
Yeah they are way off. I just removed 5 eq inquirys that were all under 90 days old.. and my score on TC went up one point to 618. That was the only change on my reports. Im sure if i check myFico those 5 inquirys probably added a good 6+ points to my score
Understand that TC cannot "duplicate" the FICO scoring model (even if they knew exactly what it was!), as I'm sure this is a patented/copyrighted proprietary asset of Fair Isaac. FICO does offer a "score watch" product, if you think it is worth the investment, they are offering a special (20% off) right now.
That is why they are called FAKE O's. Just for monitoring you changes and progress and when you see allot of changes its good to know that you can pull the real FICO's and see your scores. Pay no attention to the scores and even the reports other then changes like deletions, inq's, additions, etc.
