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I know this has been discussed before, but I will ask aga...

Regular Contributor

I know this has been discussed before, but I will ask aga...

I know this has been discussed before, but I will ask again.  From your expreience, how far behind reporting a change is myfico?  I showed a deletion of an obsolete account through TC, but nothing from myfico yet.  Another question I have is this.  Are the score increases on TC proportional to the real score increases?  In other words,  last week TC showed EQ score as 537.  Myfico showed EQ as 602.  Today, TC shows increase of 22 points.  Will my myfico score now be around 689?  Or is there simply no rhyme or reason?
Message 1 of 12
11 REPLIES
Moderator Emeritus

Re: I know this has been discussed before, but I will ask aga...

Assuming TC shows it gone, an updated MyFICO report (which you have to buy) should also.
Message 2 of 12
Regular Contributor

Re: I know this has been discussed before, but I will ask aga...

I'm new to the myfico thing, but won't the scorewatch indicate a change?  Myfico says I have one power report left, but I don't want to get it until the scorewatch shows change.
Message 3 of 12
Moderator Emeritus

Re: I know this has been discussed before, but I will ask aga...

Yes, but it can take several days before you get the notification. That does not mean you can't pull an updated report now.
Message 4 of 12
Regular Contributor

Re: I know this has been discussed before, but I will ask aga...

OK, thanks!
Message 5 of 12
Regular Contributor

Re: I know this has been discussed before, but I will ask aga...

Ok, I think I answered my own question.   When I pulled a new power report, my score shows 631.  So, I got a 29 point increase when a CO aged off.  Not quite as good as what the TC score shows...lol.  Now, we went car shopping last night and I see 4 new inquiries for banks.  Do they count as one?  It really pisses me off that the dealership pulled AND THEN let the banks pull as well.  But, I guess that's the way it goes.
Message 6 of 12
Moderator Emeritus

Re: I know this has been discussed before, but I will ask aga...



daytona18 wrote:
Ok, I think I answered my own question.   When I pulled a new power report, my score shows 631.  So, I got a 29 point increase when a CO aged off.  Not quite as good as what the TC score shows...lol.  Now, we went car shopping last night and I see 4 new inquiries for banks.  Do they count as one?  It really pisses me off that the dealership pulled AND THEN let the banks pull as well.  But, I guess that's the way it goes.



Congrats on the increase. Yep.. FICO only hits you for one. Smiley Happy Some delaerships will pull your report once and than shop you around by faxing your reports around to save you getting so many Inqs.
 
 
Message 7 of 12
Regular Contributor

Re: I know this has been discussed before, but I will ask aga...

Thanks for the congrats.  I thought I was doing rather well until I got a call from the dealer.  I got my new vehicle with payments that I can't complain about, but they raped me on interest at 12.99%.  I was sure my credit scores were much better than when I bought my last car.  I did have a ton of lates on that account though.  Do they look at those?  Or are most auto laons score driven? 
Message 8 of 12
Moderator Emeritus

Re: I know this has been discussed before, but I will ask aga...

Yes the lates matter. Most auto lenders use Auto-Enhanced FICO score (see Scoring 101 thread). If you have lates on auto TLs, your scores are going to be lower than what you see on MyFICO. I would be happy with that rate.
 
PS.. Have you tried GW on the lates?
Message 9 of 12
Regular Contributor

Re: I know this has been discussed before, but I will ask aga...

You would be happy with that rate?  Geez.  I got really affordable payments which is what mattered the most to me.  I need to be able to manage the payment, I really didn't care about the rate...until I saw it on paper.  A two digit interest rate just freaked me out.  But, you are the master, and I trust.  LOL.
Message 10 of 12