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What is A FAKO Score?

So what is a FAKO score you might be asking yourself? A FAKO score is a term that refers to any credit score that’s not a FICO score. A FICO score is the most commonly looked at credit score by lenders. A FAKO score is literally any score that is not a FICO score.

Some companies such as Credit Karma & Credit Sesame provide FAKO scores and almost never refer to the scores they offer as FAKO. They are usually referred to as educational scores or simply credit scores.

Because FAKO scores are based on data found in an individuals credit report, there is a usually a connection between a consumers FAKO score and their FICO score. It may be worth it for an individual finding out their FAKO score for educational purposes, as it should indicate if their credit is on the rise or fall. Most companies offering these FAKO scores also include information such as how certain credit decisions will affect their score.

People developing FAKO scores are also trying to make sure their scoring models closely resemble that of the FICO model. There are so many FAKO scores out there, before making any significant credit decisions such as applying for a new credit card, Credit.CC advises that consumers find out their true FICO scores which you can do so on our website.

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