Thursday, September 26, 2013

Did You Know That Most Credit Scores are Fake?

 (The following is an excerpt from my new e-book available on Amazon. You can get your copy at )

Not Knowing That Most Credit Scores are Fake!

Surprised, aren’t you? Actually there are only two credit scoring models that measure your credit risk that are legitimate. They are the FICO credit score and the Vantage credit score. The vast majority of lenders use the FICO scoring model when granting or denying you credit. Only about 6% of lenders use the Vantage model. Auto dealers and mortgage lenders always use the FICO scores.

So where are the rest of the credit scores that are FAKE? They are the scores given to you by companies spending a great deal of money to pull you in so they can sell you Credit Monitoring.
If you go to:


Not only do the men in tights/musicians/bike riding/driving a run-down car want to give you a FAKE credit score to lure you to sign up for an overpriced credit monitoring service, but even the three national credit bureaus want to sell you their own proprietary scoring model (so they don’t have to pay the FICO royalty fees).

The problem is that these scoring models can be up to 80 or 100 points higher or lower than the credit score used by your lender. I call these scores, FAKO scores, because NO lenders use them to determine your credit risk. If you can find the small print, you would see that it tells you that these scores are for “educational purposes” and that, “your lender may (read as: ALWAYS) use a different model”. Here is what is in the fine print for one of the credit bureaus:

“The credit score provided under the offers described herein make use of the Equifax Credit Score™ which is a proprietary credit model developed by Equifax. It may be calculated using the information in your Equifax, Experian and TransUnion credit files. This score is intended for your own educational use. There are numerous credit scores and models available in the marketplace and lenders are likely to use a different score when evaluating your creditworthiness.”

So how do you get your real FICO score? (The one most lenders use)
Unfortunately there are few options.
1.    If you are turned down for a loan, a lender now has to give you the actual score that was used (and the credit bureau)
2.    If you apply for a mortgage you will receive all three of your FICO scores as required by law.
3.    You can get a FICO score with your report at Equifax, BUT IT’S NOT EASY! First, go to, Click on “Personal Solutions”, then double click on “Equifax Products”, then click on “View All Products”, then, go to the bottom of the page and click on “Score Power®” and follow the instructions.
4.    You can go to and go to the bottom of the first or second page and under the 2nd column, click on “FICO Standard” and you can order all three credit bureau reports and FICO credit scores. Be careful. They will try to sell you expensive credit monitoring if you click on anything else. Every few week it seems they change their landing page. You want to look for "FICO Standard", where you can order just the report and score. Sometimes it on the first page.
If you need to get your Vantage scores go to This site was authorized by law and set up by the bureaus to give you a FREE copy of your credit report ONCE each year from all three bureaus. Unfortunately the law did not call for you to get a FREE credit score once each year. You can buy your Vantage scores on the site for $7.95 per bureau. Remember, these are NOT the FICO credit scores that are used by most lenders.

It must be noted that there are additional scoring models being used. Many large lenders/banks use their own internal scoring models that you, the consumer, will never have access to. They may rely on these instead or in addition to the FICO and /or Vantage models.

We ARE the experts in Credit Repair. Our founder, Daniel Sater, is a Nationally Recognized Credit Expert, Speaker & Author, and a Certified FICO Professional who also trains and coaches numerous Credit Repair Companies across the country and speaks at industry conferences. We are the people that other credit repair experts go to for answers.

With Credit Scoring Advisor you get personalized, not computerized service from someone who will fight for you to improve your credit profile. Dan handles every file personally to ensure the best results for our clients. You have continued access throughout our process to a recognized credit expert. We know how to get the best results.  
We would love to hear from you, give us a call, 631-392-8685