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Odd FAKO drops?

The last post in this topic was posted 2722 days ago. 

 

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OK, I know FAKOs are not entirely accurate, and that the changes we sometimes see are not representative of chances to the FICO score, but still...

 

My FAKO dropped 42 points last month when a collection from JDB was added to Experian. It is not anyone I ever heard of, not anyone I had an account with, so I disputed it with Experian.

 

Yes, I know now the right way to handle this, but did not a month ago before I joined this forum. I have since sent a DV letter.

 

Today, I received notification that the collection account was verified. Experian also noted that if I still disagree, I should contact the JDB.

 

Of course, they did not call them THAT.

 

What was odd was that my Experian FAKO dropped ANOTHER 34 points today.

 

None of the information or dates changed, actually nothing in my file changed.

 

So is this just some odd quirk of FAKOs? Is it because it was previously disputed and now it is not?

 

It is all very disheartening, really. One account, not even mine and for less than $400, and down goes the score by 76 points? I basically go from good credit to bad credit in a month, over nothing? And now I can spend the next weeks or months fighting to regain the good credit I earned? And face it, there really is no recourse. No one is going to pay me for the time I spent sitting here unable to get a loan or credit card. No one is held accountable. And what if I finally get it removed after the recent DV? They sell it off to some other JDB and the process repeats? Truly sick of pulling weeds and having more spout up to take their place. Very tired and frustrated.

 

 

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Your guess is as good as mine.. My CS Fako dropped 2 points and the only difference in my report was my mortgage balance went down by about $500. If anything, you'd think it would have gone up...

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Paying attention to FAKO is like watching the weather channel from a different planet to predict earths sunshine and rain. Ignore them completely as they couldn't be more worthless

 

Credit sesame FAKO is OK

 

Join dcu and Walmart and get your free ficos monthly

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I wouldn't say Fakos are worthless. All the Fakos I've seen are within 20 points of my real Ficos... What I thought was odd is that Fakos seem to always be lower than Ficos..

 

BTW, if you think about it, unless one knows exactly what version of Fico a given lender is using, and you're able to pull the same version yourself for comparison, Ficos are worthless too because there's to many versions; especially when you count the enhances Ficos...

Edited by crabjoe

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I wouldn't say Fakos are worthless. All the Fakos I've seen are within 20 points of my real Ficos... What I thought was odd is that Fakos seem to always be lower than Ficos..

 

BTW, if you think about it, unless one knows exactly what version of Fico a given lender is using, and you're able to pull the same version yourself for comparison, Ficos are worthless too because there's to many versions; especially when you count the enhances Ficos...

And Crabjoe pees into a running fan. :)

 

Not to say that I don't share some of the sentiment.

Edited by cv91915

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My husband's score drop by 48 points for NOT using his credit card which had a zero balance.

 

He called Equifax and told them NOTHING had changed why the big drop ? They told him the drop was because he had not used his credit card in 2 months.

 

He said I know a score can go down for non-use but 48 points ? The CSR said she has seen scores go down 80 points for not using a CC !!!!

 

It just doesn't make any sense how scores can drastically drop with little or no changes on a CR.

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I wouldn't say Fakos are worthless. All the Fakos I've seen are within 20 points of my real Ficos... What I thought was odd is that Fakos seem to always be lower than Ficos..

 

BTW, if you think about it, unless one knows exactly what version of Fico a given lender is using, and you're able to pull the same version yourself for comparison, Ficos are worthless too because there's to many versions; especially when you count the enhances Ficos...

And Crabjoe pees into a running fan. :)

 

Not to say that I don't share some of the sentiment.

lol You know what the worst thing about scores are? No matter how many different versions Ficos/Fakos you get, it might never match the lenders score because some lenders have their own scoring system..... The only score that truly matters is what the lender has.......

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I wouldn't say Fakos are worthless. All the Fakos I've seen are within 20 points of my real Ficos... What I thought was odd is that Fakos seem to always be lower than Ficos..

 

BTW, if you think about it, unless one knows exactly what version of Fico a given lender is using, and you're able to pull the same version yourself for comparison, Ficos are worthless too because there's to many versions; especially when you count the enhances Ficos...

Have seen fakos that are 90 points off of ficos. Have seen fakos come in 60 points HIGHER than ficos. It is EASY to find out which fico a lender pulls... It's all on this board. Use the search tool.

 

Knowledge is power. Fakos are worthless. You waste your time even thinking of their existence. Talk to any pro here.

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So today when I pulled I get an ALERT that my score has jumped 76 points! So it is exactly where it was when the dips and jumps began. So without one change it went down 42, down 34 more, and up 76. As Kayvebear and other stressed, I guess I should not worry about it as FAKOs are only imaginary creatures. Worrying about these huge fluctuations is sort of like trying to decide the best lasso to catch a unicorn.

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FAKOs are for entertainment only. My CS & CK were within 10 points of each other. Imagine my shock when my lender pulled scores were about 180 points lower!! Over the past year I have worked on my reports and paid down utilization by about 50%. My lender pulled scores are now higher then both CS & CK but yet now CS shows me only going up by 6 points during that time and CK actually shows my score going down by about 10 points.

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