A FAKO score is a term used to describe a credit score assigned to a credit history which uses a formula other than the one developed by the Fair Isaac Corporation. Fair Isaac developed a secret and proprietary formula for a computer to analyze a credit history and assign a numerical score. The company called it a FICO score. Many other companies attempted to simulate the FICO score with a process of their own and often at a lower cost than Fair Isaac. The resulting scores from these companies were termed as FAKO scores. Most FAKO scores are relatively close to FICO scores.
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