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Can the experts help me understand.

Valued Member

Can the experts help me understand.

So I bought my Experian report and my score is 645. other too are in 680's and they both are reporting my bankrupty schedule to fall off in July and Experain isnt..So I thought my score would be way higher, and i thought that I would also get a good bump on the other two in July or August when  my bankrupty aged off. I am so confused. Another thing is 1 inquiry is all experian is reporting. I have 8-10 on the other two ..do u think this report is acturate how do i boost it like the other two ? when looking at it ITs my best report beside the score.

Jumped out the Garden! But I'm running back with Roses!



Message 1 of 6
5 REPLIES
Senior Contributor

Re: Can the experts help me understand.

Not sure why you think you need an expert.  This is all basic credit stuff.  The scores can vary quite a bit considering that they don't use the exact same algorthm to determine your score.  I wouldn't fixate on a variance of 35 points.

 

The bankruptcy will fall off all three.  If it doesn't, contest it.

 

Inquiries can also vary as creditors don't all use the same burueaus.  Even one creditor can use different bureaus.  You're the only one that can determine if the number of inquiries is correct.  Review your reports and look through the inquiries and make sure that they're valid.

 

You can't just boost your score.  If there are inaccuracies then you need to address them.  The type and severity of the inaccuracy will determine what improvements you can expect.

 

 

Message 2 of 6
Community Leader
Senior Contributor

Re: Can the experts help me understand.


takeshi74 wrote:

Not sure why you think you need an expert.  This is all basic credit stuff.  The scores can vary quite a bit considering that they don't use the exact same algorthm to determine your score.  I wouldn't fixate on a variance of 35 points.

 

The bankruptcy will fall off all three.  If it doesn't, contest it.

 

Inquiries can also vary as creditors don't all use the same burueaus.  Even one creditor can use different bureaus.  You're the only one that can determine if the number of inquiries is correct.  Review your reports and look through the inquiries and make sure that they're valid.

 

You can't just boost your score.  If there are inaccuracies then you need to address them.  The type and severity of the inaccuracy will determine what improvements you can expect.

 

 


+1

 

Takeshi74 hit it right on the nail.

Message 3 of 6
Valued Member

Re: Can the experts help me understand.

Thanks for the response..but my question is why the number is so low when it looks better than my other two reports and its not time for the bankrupty to fall over yet so experian took it off early and its the lowest score i have . The inquires on the other two reports are correct. Believe me Im on top of my credit just was shocked that this report looks the best i.e inquiries and baddies but is my lowest score.but i got the credit i neeed at the moment wanted AMEX BCE in NOV and i know they pull Experian so kinda bummed about my score.

Jumped out the Garden! But I'm running back with Roses!



Message 4 of 6
Frequent Contributor

Re: Can the experts help me understand.


Biraeta wrote:

Thanks for the response..but my question is why the number is so low when it looks better than my other two reports and its not time for the bankrupty to fall over yet so experian took it off early and its the lowest score i have . The inquires on the other two reports are correct. Believe me Im on top of my credit just was shocked that this report looks the best i.e inquiries and baddies but is my lowest score.but i got the credit i neeed at the moment wanted AMEX BCE in NOV and i know they pull Experian so kinda bummed about my score.


They each use their own formula to calculate scores - some things that may be on all 3 reports (or not) could impact your score more on one, less on another, or not at all. 



Last HP 8/29/14

Message 5 of 6
Highlighted
Regular Contributor

Re: Can the experts help me understand.

I can tell you from Experience, that some creditors look at ALL 3 reports, not just one. For example, CAP1 pulls all 3. Their logic (this is the only way to explain it) is they want to see ALL 3 reports to see if their is a collection on EXP that isn't on TU or one on TU that isn't on EQ. Also not all creditors pull from all 3, so you may have 1 INQ from Discover on your EXP report but Barclay, GE, BOA, CHASE might have pulled from TU or EQ..thus showing for example you have 15 HP in a 2 weeks span from credit applications you put in.

 

That way it gives them a FULL report of what you are trying to do, what you have, and what kinda risk you are.

 

Hope that explains it a little better.

Message 6 of 6