FICO vs FAKO Scores?

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Twisted Innovator
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FICO vs FAKO Scores?

Postby Twisted Innovator » Sun Feb 24, 2013 1:11 pm

Why do people post FAKO scores in their signature...when those don't really matter? Why not just post the FICO scores? Just curious


Sevenfeet
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Postby Sevenfeet » Sun Feb 24, 2013 1:27 pm

The FICO scores are the most important but they are also the most expensive ones to acquire. There are cheaper ways to get other "FAKO" scores, so people use them as an estimate of a true FICO.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
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AMEXPlatino86
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Postby AMEXPlatino86 » Sun Feb 24, 2013 4:44 pm

Sevenfeet wrote:The FICO scores are the most important but they are also the most expensive ones to acquire. There are cheaper ways to get other "FAKO" scores, so people use them as an estimate of a true FICO.


How much does it cost to get each of your scores?
My "children"

Wells Fargo Platinum 2.100 (5/2011-closed 7/12/14)
American Express Platinum NPSL (6/2012)
Barclays Apple Visa 8.500 (6/2012)
AMEX Gold Delta SkyMiles 20k (5/2013)
Marriott Rewards Visa 7.400 (7/2014)

Possible card pickups:
None at the moment

My credit score (coming soon):cool:
EQ: unknown
EX: Unknown
TU: 794 (7/2014)


Rory
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Postby Rory » Sun Feb 24, 2013 4:49 pm

AMEXPlatino86 wrote:How much does it cost to get each of your scores?


it can cost up to 40$ for just one look at your FICO EQ and TU Scores

Source: http://www.myfico.com/Products/Products.aspx
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

AMEXPlatino86
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Postby AMEXPlatino86 » Sun Feb 24, 2013 4:55 pm

Wow that ridiculous price to pay but considering I'm a credit enthusiast, I would pay anything to protect it. Does anybody else use those programs to watch over their credit and have access to their scores?
My "children"

Wells Fargo Platinum 2.100 (5/2011-closed 7/12/14)
American Express Platinum NPSL (6/2012)
Barclays Apple Visa 8.500 (6/2012)
AMEX Gold Delta SkyMiles 20k (5/2013)
Marriott Rewards Visa 7.400 (7/2014)

Possible card pickups:
None at the moment

My credit score (coming soon):cool:
EQ: unknown
EX: Unknown
TU: 794 (7/2014)

Twisted Innovator
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Postby Twisted Innovator » Sun Feb 24, 2013 6:54 pm

I have the myfico monthly subscription. It's free for 10 days then 14.95/month(3 month minimum) if you choose to do the subscription. Your report updates every 3 months. It also sends you alerts if something changes on your report. You can also customize the alerts. If you don't want to wait 3 months for an updated report, you can buy a current report for a 20-30% discount. I think it's worth it. I like watching over my credit. But hey, that's just me.

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rhipsher
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Postby rhipsher » Tue Mar 05, 2013 11:49 pm

I've been using Scoresense.com. It costs a monthly fee but it's still cheap and alerts you if your score goes up or down with all three big kahunas.


DavidNY
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Postby DavidNY » Wed Mar 06, 2013 10:14 am

I wouldn't pay for scores. If you look at the free data from Credit Sesame or Credit Karma you'll have a good idea of what the scores are.

namvet
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Postby namvet » Thu Mar 07, 2013 6:59 am

I agree with DavidNY. Credit Sesame scores are obtained from EXP and Credit Karma from TU. IME the sesame scores are closer to my real EXP score and karma always reports lower than my real TU score.

mattymatt808
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Postby mattymatt808 » Fri Mar 08, 2013 4:54 am

Yep, last month Credit Sesame was within 10 points of my Experian score and Credit Karma told me 729 when my actual TransUnion was 781.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)



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