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jweber
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0.10 Dollars($)
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Post subject: credit bureaus |
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| Hi my credit is in a good condition but when i see my credit reports the numbers are different for my scores. why do they show up like this? |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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jweber - the scores are calculated by what's on your credit report.
not sure what your perception is of having a good report ....
usually it's cuz ppl have high balances on credit cards...and when they pay them off their score goes up
_________________
there's always hope!
"My credit score shot up 68 points!" |
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jweber
Guest
0.10 Dollars($)
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Post subject: |
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| well the scores for experian, equifax and transunion vary should they all be the same numbers? |
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banker0679
Community Expert
Joined: 15 Nov 2007
Posts: 452
Location: Charlotte, North Carolina
19.27 Dollars($)
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jweber - no. that is normal. Also, you'll probably notice that all 3 reports are probably NOT identical
will also depend on where you're pulling the scores from
_________________
there's always hope!
"My credit score shot up 68 points!" |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12330
Location: bloomfield, ct
50.03 Dollars($)
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there are also times in which you'll see a wide discrepancy between the three scores. some of that is due to the fact that there are creditors who report to only one of the bureaus, or by inquiries that don't go to all three bureaus but only to one or two...there are a wide variety of factors that will cause the scores to be dissimilar. i don't want to give you a stock answer, because every case is going to be quite different.
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George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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Blaine Morgan
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0.10 Dollars($)
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Post subject: experian score |
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| On the 29 july i scored on experian at 650 then on they 18 of august my score went down to 611 and nothing changed at all |
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adonis
Joined: 22 Oct 2005
Posts: 10242
Location: ALASKA
1042.50 Dollars($)
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Welcome Blaine,
You can contact Experian and check out what went wrong. They will let you know why your scores have been lowered.
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Procrastination is the enemy of your financial success |
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Pebbles
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Post subject: Credit Score |
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Hi Jessica,
I run my credit report annually to ensure that it is accurate. I ran my most recent one in May with Free Credit Report.com. My 3 scores were 782, 735 & 782. Upon trying to refinance my home just this week, I was informed by my mortage company that my scores were 700,689 & 687 how can this be. I have not done anything since May that would impact my scores do drastically. I was told by the Mortage Comp that there company uses some other kind of module. I ran all three reports again, and I only have one blemish on my report for a medical bill $793.00 back in 2004 when I was laid off. That bill was paid, however, after it went to collections. All my other accounts either closed or paid as agreeded. My reports do show 4 Credit Cards that were closed by the Grantor due to inactivity. I never used any of the cards. I could see how this would effect me if the accounts were closed with outstanding balances, but the cards were closed by the Granter with zero balances. Please tell me what to do. I am confused. I pride myself on the hard work and effort I put into to keeping my credit spotless. What can I do? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Hi Pebbles,
It is quite difficult for me to say why your credit scores took a hit when you haven't defaulted on any of your payments. You can contact the credit bureaus and check out if they can clarify the facts for you.
Thanks |
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river
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Post subject: Transunion scores same day different lenders different score |
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| I have had two transunion reports done on the same day in the same town and had two different scores... why did this happen |
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smithsussane
Joined: 18 Sep 2008
Posts: 10020
Location: Alaska
917.78 Dollars($)
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Post subject: |
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Hi river!
Welcome to forums!
It is quite surprising that you got two different reports from the credit bureau on a particular day. It will be better if you could contact Transunion and request them for an explanation.
Feel free to ask if you've further queries.
Sussane |
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anonwithaquestion
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Post subject: |
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Hubby and I have had credit problems in the past. We started with great credit, then due to job losses, reductions in hours and the like, we went through some really tough times and our credit totally tanked.
It's been a battle ever since to slowly redeem ourselves. And while we put in the work, the advice I've received here recently helped immensely.
In 2006 we had to let our mortgage loan reach the foreclosure state in order to access the funds from my husband's 401K. It was either that or lose our home entirely. At that exact moment in time our original lender was selling the loan. With the new lender we have never been late, but the last record on our credit history for the original was "foreclosure filed.". Thanks to people here I got off my duff and challenged the listing through experian. Within 5 days the nnotation was changed to simply "sold to another lender."
Also, I went after a credit card company that had my personal card and it's bad history listed on my husband's credit. With another challenge, that was wiped from his credit report.
And while I haven't yet paid to see how my husband's Vantage score stacks up in relation to the three credit bureaus, his rating with them is as follows. Equifax, 791, TransUnion 804 and Experian 815.
Can anyone advse as to how good or bad a score this would relate to in Vantage speak? |
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jameshogg
Joined: 20 Dec 2005
Posts: 10148
Location: Nevada
941.94 Dollars($)
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Post subject: |
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Hi anon,
It's really good to note that the advice that you received here helped you a lot in solving your financial issues.
As far as I know, under VantageScore, credit scores range from a low of 501 to a high of 990. Moreover, each 100-point interval corresponds to a letter grade, in ascending order. For example, A for a score of 501 to 600. Keeping this fact in mind, I would say that your husband's credit score is good.
Thanks |
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pepper1073
Joined: 14 Nov 2010
Posts: 3
1.74 Dollars($)
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Post subject: FICO scores guidelines |
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| Is the method for determining someone's FICO scores going to remain the same or are they going to change with the stricter guidelines for mortgage? Also, has the highest FICO score someone can get been raised? |
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smithsussane
Joined: 18 Sep 2008
Posts: 10020
Location: Alaska
917.78 Dollars($)
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Hi pepper!
Welcome to forums!
I don't think there is a method for determining someone's FICO scores to remain the same or are they going to change with the stricter guidelines for mortgage. If you have any negative items listed on the credit report, then it will have a negative affect on your scores. There are various steps which one can take in order to improve their credit score. Take a look at the given page for the same:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Feel free to ask if you've further queries.
Sussane |
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