Credit Karma Won’t Be Giving FICO Scores Anytime Soon

Credit Karma isn't likely to give a FICO score.
Now that some credit card companies are giving FICO scores to customers with their monthly statements, some people wonder why the free credit score companies don’t simply begin providing users with their FICO score as well? Many of these free credit score companies like Credit Karma, Credit Sesame, and Quizzle give their users a FAKO score (also called an “educational score” by the industry) rather than their FICO score. A FAKO score is one that uses a similar scoring system as is used with FICO, but it’s not a score from MyFico. There are arguments as to whether a FICO score is better than a FAKO score, but most people would probably prefer to have a FICO score over


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4 Responses to Credit Karma Won’t Be Giving FICO Scores Anytime Soon

  1. John Ulzheimer says:

    This is incorrect. The term “FAKO” was coined as a way to describe a credit score that wasn’t even available to lenders, aka not commercially available. As such the score was “fake” because it couldn’t be used by anyone when making a lending decision. The scores being given away by Credit Karma, Credit Sesame and Quizzle are commercially available and can be used by lenders. Karma and Quizzle give away your VantageScore credit score which is used by more than 1,300 lenders (hardly FAKO) and Sesame gives away the Experian National Risk Score and while the stats of its use are not disclosed it is, again, available for any lender to utilize.

  2. Very interesting. I didn’t realize that Credit Karma was focused on education primarily. I suppose that makes sense, but it does seem that the FICO score would further challenge that goal.

  3. I would disagree. A FAKO score simply means it’s not a FICO score issued my MyFico. The term came about because it was a fake FICO score, thus the debate between the two.

  4. They are focused on education because that’s how they make their revenue. The free credit score is the hook that brings customers to them.

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