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First off, Ohio child support Quick pay program Discover Card? Thanks in advance for any answer or 2. Second question of mine... I applied to Navy Fed to do a VA refinance of my mortgage. I did so after pulling scores from all three bureaus. I pulled EQ/621, EX/662, and TU/739. When I got my docs from Navy Fed, the credit scores they pulled were EQ/621, EX/588, and TU/599! Why and how could there be such a disparity in the scores? Has this happened to anyone else? Needless to say, the NFCU underwriters turned me down, but this is BS. |
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I'm stumped. I'm not so sure what is the answer. I'll do some research in Google and get back to you if I find an useful answer. You should email the people at Discover Card as they probably could assist you..
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That's your problem. They have to come from FICO, and Experian won't even let you buy the FICO score for that report. Time to get those scores up so you can refi!.
Any idea what's keeping your scores down?.. |
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Yep, that would be a FAKO..
Www.transunioncs.com. The place to buy a TU FICO score... |
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First of all any score other than a FICO score is not real and is referred to as FAKO aka Fake scores..
Secondly each institution uses a different scoring model based on their own criteria, there are 100's of scoring models.. Myfico gives you "just an idea" of where you stand but doesn't mean that's what each bank will see.. This post has been edited by. Hkbushido. : 19 January 2010 - 06:29 PM.. |
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Myfico.com will give FICOs for TU and EQ. (discount if you use CPPSAVINGS as your promo code).
EXP thinks you are better off not knowing what your actual FICO. Score is before apping... |
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Thanx for the info and the discount code. What good is a FAKO score other than to confuse people? They're not even close...
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Wow that is quite a difference, especially TU. Even FAKOS should be a little closer than this!..
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As for what they are good for, there is only one thing that fako's are good for. Making the big three some money. That's it. They didn't like FICO making all the money off of their reports so they started their own scores and they try to trick people into buying them (or force them into it by not allowing them to buy their FICO).
No lenders that I have ever heard of use FAKO's for anything... |
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Yeah, but they are way off. OP Fako is off by 20%! 140 points off? This should almost be illegal...
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Check your CK score for TU and see what you get. My CK score is only off by about 20 pts or so...
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As you know, there's no rule that says FAKOs have to be within some percentage..
Mortgage lenders use different FICO models and some of them even use diffrent models even amongst them.. FICO is as good/bad as any FAKO to us consumers. We just have to go by our credit reports... |
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Way off in what way? The CRA's never claim their scores are comparable to anything. They are a score, their scores. It's the consumer.
That assumes they are comparable. They could score you A-F or five dollar signs through one dollar sign. The problem with doing that is. Then the consumer wouldn't be fooled and buy them. Now THAT would be a pity... |
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In a way it is kind of sadistically amusing when they are selling you a 740 score, only to discover that 740 isn't even a 600..
I knew they were FAKOS but I do not think I have seen until this instance they were that far off... |
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Let's say that I am a professor teaching a particular class. I am not the only professor, but I teach 6 of 7 sections of the course and the other section is taught by adjunct professors that change every semester (completely unreliable). If you choose to take the class, you won't know which professor you will get until after you've chosen to take the class. If you wanted to get a good grade, you would want to know my syllabus, since you will most likely have to adhere to it..
If you ask for a syllabus for this class, and someone gives you a nameless syllabus that only has the name of the class, then you got exactly what you asked for, whether or not it is my syllabus. Make sure to ask for my syllabus if you want the syllabus that matters... |
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Huh? That is so unrelated..
When I registered for classes, everyone knew "THE" professor to take for a particular course, and if you taught 6 of 7 of the sections of the course you were most likely either: 1) The prof to definitely avoid, or 2) Definitely the prof to take, in which case the adjunct professor had a handful of ignorant students that did not do their research on which professor to take.. Reminded me of a History class where the "cool" professor discovered about 20 forged cut cards... |
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True, my model is not entirely correct, but I thought it served the purpose of showing that more than one credit score exists and there's nothing illegal about selling a non-FICO score as a "credit score" unless they call it a FICO when it's not..
On second thought, maybe a metaphor using cars would have made more sense..... |
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GEORGE.
Has been a little sick.... (not that anybody wants anything from me).... ALL I DO IS LIE.. |
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The best credit score to purchase is that which best reflects the score by which a creditor will measure you. For that reason, a myFICO is likely the best choice when you're looking for intelligence..
But because of the different credit segment models (mortgage, auto, retail, credit card, etc.), even what you get from myFICO my vary wildly from what your creditor sees.. I'll again cite our experience when we sought a HELOC in DW's name in 10/2007. Her TU 10/9/07 myFICO TU was 729. However, Chase reported back that her TU FICO as of 10/16 was 666. (There was no change to her report in the interim). On the other hand, we refi'd our home mortgage in December. The EQ score reported back by WF matched the FICOs we pulled for EQ exactly: both report 788 for her, and 782 for me.. There are no guarantees when you pull myFICO score (or the equivalent through EQ or TU-CS), but you're getting a score based on factors that stand to be most comparable to what your creditors view... |
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I got the scores directly from the bureaus. The TU score came from TrueCredit...
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