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HI,
I went to the Volkswagen Dealership to lease a car the other day. I know my credit scores because I recieve all three reports daily.
The hard pull came back and my scores came back quite different.
Dealer pull 7/4/12
EQ - 566
EX - 515
TU - 539
My pull 7/5/12
EQ - 574
EX - 574
TU - 584
I'm so confused. I've been keeping track of my credit for a few months now. I have no credit cards, I student loan for 2000 and some medical stuff! I had acar accident a few months back. I just started back work!
Is there a way to fix this? i'm moving next month will i get approved for my dream appartment with scores like this!!
I think you have two problems here .
1) The scores you're receiving daily, are almost certianly FAKO's. The places to get EX outside of a lender pull are few and far between, and do so monthly anyway.
2) The scores the VW dealership pulled are also auto-enhanced (99+% probability), which dependant on your prior auto history (or lack there potentially) can be substantially off by 50 points or more than one's normal Classic FICO.
If you're really curious as to where you're at, I'd suggest making the EQ pull from here which is probably the most realistic barometer of our FICO that we easily have access to. Real FICO '04 pull, EQ Beacon 5.0 Classic in this case. Sadly most other scores one can find are for "educational" use... read: makes CRA's and others money, rather than being truly representative of your actual credit score as used by lenders.
So, how would I see what they see. So that I can fix those unaccurates quickly
@Anonymous wrote:So, how would I see what they see. So that I can fix those unaccurates quickly
Not quite certain what you're asking for here, my apologies; however, the report *data* is the same in all cases. If you have access to the data (either paid with your service) or through any other mechanism such as Credit Karma gives you access to most of the TransUnion (TU) report data, then you can see what's on it specifically.
The indivual scores, especially the auto-enhanced ones, we don't have access to. All the scores though simply take the report, and then run it through their specific algorithm. Different algorithms weight things differently though... frankly it's overly complicated but in general any report service can show you what you need to work on, and the forums here are excellent for getting advice as to how to approach different things.
@Revelate wrote:
@Anonymous wrote:So, how would I see what they see. So that I can fix those unaccurates quickly
Not quite certain what you're asking for here, my apologies; however, the report *data* is the same in all cases. If you have access to the data (either paid with your service) or through any other mechanism such as Credit Karma gives you access to most of the TransUnion (TU) report data, then you can see what's on it specifically.
The indivual scores, especially the auto-enhanced ones, we don't have access to. All the scores though simply take the report, and then run it through their specific algorithm. Different algorithms weight things differently though... frankly it's overly complicated but in general any report service can show you what you need to work on, and the forums here are excellent for getting advice as to how to approach different things.
+1. Without knowing more about what is negative on your reports, it's difficult to give you much advice. You should try posting more details in the rebuilding forum. But one thing I note is you said you have no credit cards. Adding at least one credit card is likely to improve your score. With your current scores, you're probably going to have to start with a rebuilder card. I'd check the preapproved offers on Capital One's website, and perhaps consider a secured card from Capital One or Bank of America.
@Anonymous wrote:HI,
I went to the Volkswagen Dealership to lease a car the other day. I know my credit scores because I recieve all three reports daily.
The hard pull came back and my scores came back quite different.
Dealer pull 7/4/12
EQ - 566
EX - 515
TU - 539
My pull 7/5/12
EQ - 574
EX - 574
TU - 584
I'm so confused. I've been keeping track of my credit for a few months now. I have no credit cards, I student loan for 2000 and some medical stuff! I had acar accident a few months back. I just started back work!
Is there a way to fix this? i'm moving next month will i get approved for my dream appartment with scores like this!!
Sorry to say your scores above or the VW scores above, you are not getting approved for a lease.
Now to add from other poster and for you:
You are getting "Fako" Scores, You can buy TU and EQ from here and might be worth the $15-$20/Each...
As far as the "Auto-Enahnced" that the VW pulled, you can not get those reports, you can ask to see them at dealership but they won't let you leave with them or anything. and actually the difference you are seeing isn't to bad... I have had my auto fico be close to 150 points LOWER then my REAL Fico let alone Fako's like you have I think would have been over 200 points different!!!
How long ago was last late, last delinquent? Are these (collections, lates, charged off accounts) are they fixed now?
You would probably do really well for your credit to increase in a hurry by adding at least 1 credit card... maybe secured for better terms.
Not a good time to get a car if you can wait a bit.
Apartment should probably be okay, they are not looking at a score usually, they are more concerned about evictions and current delinquent accounts that are showing you are not handling your money.