How To Fix Your Credit – Don’t Be Fooled by Cheap Imitations: Finding Your Real Credit Score
Here is one that I received recently that I want to share with you.
Each year I check my credit reports to make sure everything is correct and up to date. Even though I’ve done this for several years, I am still not sure of my actual credit score. What is the best way to check my credit score?
Great question! Funny you should ask me about this. I just wrote an article about fake credit scores vs. real credit scores. I’ll give you the cliff notes of my article.
The only place to get a real credit score is myfico.com everywhere else is a fake score.
Here are some of the fake scores, which are somewhat derisively termed the FAKO scores.
Who Are the FAKO Players?
- Vantage Score: Vantage Score is the result of a team effort from the big three credit reporting agencies to come up with their credit scoring model. One advantage to using Vantage Score is that it’s a merged score, and it combines data from the big three. The disadvantage to Vantage score is that hardly anyone uses it.
- PLUS: Plus is a proprietary creation from the credit reporting agency, Experian. Since the PLUS score is only based on internal data from Experian, it’s not terribly useful to you aside from your own educational value. Also, keep in mind, the PLUS score is not used by any lenders.
- TransRisk: Transrisk Plus is a proprietary creation from the credit reporting agency, Transunion. You should not be surprised to learn that this score, just like the PLUS score above, is not very useful beyond your own educational value.
What Do You Think?
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