TESTIMONIAL:
The three national credit reporting agencies are better off with consumers being financially uninformed or misinformed.
Fako Score
Lack of credit education is one thing, but misinformation is prevalent not only among so-called credit experts, mediocre financial professionals and sleazy credit repair companies, but also in the heart of the credit industry. Take the three national credit bureaus, Experian, Equifax and TransUnion as examples. For years they have been making millions of dollars selling their own versions of credit scores (listed below) and never disclose to consumers that their scores are not used by lenders.
FICO & FAKO…
Jennifer Rogers
- Plus Score from Experian
- Credit Expert Score from Experian
- Trans-Risk Score from True Credit/TransUnion
- Vantage score from all three, Experian, Equifax and TransUnion
These scores are sold to us under the pretense that they are the actual scores that lenders and creditors use when making a credit decision about us.
Sadly,
federal laws do not require the three Credit Reporting Agencies, also called the three CRAs, to provide us with credit scores that lenders and creditors actually use. In addition, the three bureaus do not disclose to us that their
FICO knockoffs or so-called educational scores can differ significantly from
FICO scores. Furthermore, the three CRAs do not disclose to us that their credit scores that are offered and sold on www.annualcreditreport.com are
FAKO scores.
• Would you like to know more about
FAKO scores?
• Would you like to know how the 3 CRAs keep us misinformed about their scores?
• Would you like to know what the president and CEO of Vantage scores had to say when we asked him to name lenders that use the Vantage score?
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