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Established Contributor
Posts: 866
Registered: ‎09-22-2011
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Re: Credit card application

 

 

 

 

Actually there should be 1 score. I don't understand the point of 3. 


Years ago credit was recorded and reported by small local and regional agencies all across the country.  They didn't communicate with each other.  So you had credit in Florida and moved to say Texas and applied for credit.  No recorded report.  All the small local and regional agencies have now been consolidated into the big 3 (Ex,EQ and TU).  It probably takes 3 to keep up with all the traffic. 

Established Contributor
Posts: 921
Registered: ‎12-10-2011
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Re: Credit card application


Wolf3 wrote:

I have yet to pay for a score.   For me, understanding what goes into a score and periodically reviewing the CR is enough.  I know how to optimize my score, which I do at application time.  I don't think paying for a FICO score is worth it for me.  


 

 

Please share how to optimize scores before application time.


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

If your outGo is more than your INcome than your UpKeep will become your downFALL.

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Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: Credit card application


JusdoNit wrote:

Wolf3 wrote:

I have yet to pay for a score.   For me, understanding what goes into a score and periodically reviewing the CR is enough.  I know how to optimize my score, which I do at application time.  I don't think paying for a FICO score is worth it for me.  


Please share how to optimize scores before application time.


I'm guessing he's talking about having all your cards but one report $0, and have that one report about $20. Pay them off right before the statement dates to control the reported balance.

 

You'll want to start this about 6 weeks before you plan to app in order to let all your cards cycle through with the new balances.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
Posts: 311
Registered: ‎07-18-2011
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Re: Credit card application

My WalMart TU score and my "MyFico" TU score were 1 point apart.  I think it's a YMMV situation since banks, cc companies and lenders use their own scoring models.

Frequent Contributor
Posts: 406
Registered: ‎01-16-2012
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Re: Credit card application

They say YMMV......

 

As is, in my case....Myfico reported my score here of 683 on 1-19-2012;  however,  Walmart reported my score as 706 as of 1/05/12....  

 

C'est la vie!


(02/09/15) Barclay FICO 765, (1/06/2015) Walmart FICO 758, (1/20/15) Discover IT FICO 756 Last App 1/23/15 AMEX Jet Blue "1988"
Contributor
Posts: 101
Registered: ‎07-30-2010
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Re: Credit card application

I agree with the OP. What's the point of a guessamate score? You might as well get a FREE one. Eliminate a bogus expense. That could go towards another bill. Do not upsell it if it is not worth the word it's printed.  And it's not disrespect when you demand a product to do what you intended it to when you paid for it. Either it does that or return it. Since you can not then you were sold a bag of worthless goods. I agree 100% with OP. More research was warranted for the card, not for the drop in 50 points on trumped in-house scoring system. 



4/5/12 TU-635 Ex-634 Eq-646 (Kroll Fact. Home loan)
9/8/10 TU-654 Ex-627 Eq-638
8/1/10 TU-629 Ex-627 Eq-638


Starting Score: 526
Current Score: 635
Goal Score: 750


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