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FICO Scores vs “FAKO” Scores

FICO Scores vs “FAKO” Scores: Brief Synopsis

  • Other credit scores besides the FICO score exist.
  • Most other scores are not worthwhile, and are deemed “FAKO” Scores.


FICO Scores vs “FAKO” Scores: Full Explanation

In the previous sections, you learned about the ubiquitous FICO score, and its broad-reaching effects. However, there are other scores on the market besides the FICO score. The most notable other scores are the Vantage Score and the Plus Score. Credit scores other than the FICO score are commonly referred to in the industry as FAKO scores because they are typically sold to consumers, but very few, if any, lenders actually use them to make lending decisions.

These “FAKO” scores are commonly sold to unsuspecting consumers who don’t realize the difference between an actual FICO score and “some other score”. A FICO score will say it is a FICO score. FICO scores range from 300 to 850 and FICO has actually trademarked this as their range of scores and no other company can use that range.

I have seen other companies try to confuse customers into thinking they are getting a FICO score. One major credit report provider was indicating that most consumers’ scores are between 300 and 850. This is misleading because the consumer is lead to believe that this is the score range, and therefore they are buying a FICO score when in fact they are getting an imposter score!  

An additional note on “FAKO” scores: they are typically higher than what your FICO score is. This is on purpose. Customers who receive their “FAKO” scores, which are typically higher than FICO scores, tend to be happier with their purchase because their score was higher than they expected.

Don’t be fooled! Read the fine print. Are you getting a true FICO score or a “FAKO” score?

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