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New Member
Posts: 2
Registered: ‎12-15-2011
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KIA says one thing and Credit Report says another

Hoping someone can point me in the right direction.  

 

I went to KIA yesterday to talk about possibly leasing a new Optima.  The finance manager came back and said I would be Tier 2 because my credit score was 660.  I said "WHAT?"  I keep up with my credit scores monthly throught the three credit bureaus.  I came home and pulled up the most recent scores as of 12/14/11

 

Experian had 708

Equifax had 695 

TransUnion had 704

 

The finance manager said that KIA uses TransUnion.  When I looked at the credit inquiries the local dealership did check TransUnion, but the KIA corporation had checked Equifax.  After checking as many places as I could, it seems that I would definitely qualify for Tier 1.  Are they feeding me a line of crap and how can I deal with this?  I did print out the report and scores from all three bureaus just in case I needed it.

 

Thanks!

Valued Contributor
Posts: 2,791
Registered: ‎03-18-2007
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Re: KIA says one thing and Credit Report says another


KYmom wrote:

Hoping someone can point me in the right direction.  

 

I went to KIA yesterday to talk about possibly leasing a new Optima.  The finance manager came back and said I would be Tier 2 because my credit score was 660.  I said "WHAT?"  I keep up with my credit scores monthly throught the three credit bureaus.  I came home and pulled up the most recent scores as of 12/14/11

 

Experian had 708

Equifax had 695 

TransUnion had 704

 

The finance manager said that KIA uses TransUnion.  When I looked at the credit inquiries the local dealership did check TransUnion, but the KIA corporation had checked Equifax.  After checking as many places as I could, it seems that I would definitely qualify for Tier 1.  Are they feeding me a line of crap and how can I deal with this?  I did print out the report and scores from all three bureaus just in case I needed it.

 

Thanks!



Welcome to the Forums, KYmom! :smileyhappy:

 

I've moved your post here to allow a quicker, better response than it would get on the SmorgasBoard.

 

I'm sure others will be along to give you a more detailed answer than I'm able to, just now (so sorry - dashing off to work!), but a good place to start would be to read Credit Scoring 101, as it talks about the difference between credit scores (what you pulled) and FICO scores.

 

Hope this is a helpful start, and welcome again!  :smileyhappy:

_____________________________________________________________________________
It's never too late to become the person you might have been. ~George Eliot

02/12/09 EX: 701 / 02/08/10 EQ: 719 / 02/08/10 TU: 723

Backdoor Numbers, Credit Scoring 101, Understanding Your FICO Score PDF
New Member
Posts: 2
Registered: ‎12-15-2011
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Re: KIA says one thing and Credit Report says another

Thank you!  I'll check that out!

 

Moderator
Posts: 16,481
Registered: ‎07-14-2009
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Re: KIA says one thing and Credit Report says another

[ Edited ]

KYmom wrote:

Hoping someone can point me in the right direction.  

 

I went to KIA yesterday to talk about possibly leasing a new Optima.  The finance manager came back and said I would be Tier 2 because my credit score was 660.  I said "WHAT?"  I keep up with my credit scores monthly throught the three credit bureaus.  I came home and pulled up the most recent scores as of 12/14/11

 

Experian had 708

Equifax had 695 

TransUnion had 704

 

The finance manager said that KIA uses TransUnion.  When I looked at the credit inquiries the local dealership did check TransUnion, but the KIA corporation had checked Equifax.  After checking as many places as I could, it seems that I would definitely qualify for Tier 1.  Are they feeding me a line of crap and how can I deal with this?  I did print out the report and scores from all three bureaus just in case I needed it.

 

Thanks!


Hello and welcome.

 

Unless those 3 scores you listed were polled by a lender they are probably not FICO scores. There is no 3 in 1 monitoring service at this time that sells all three.

 

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO.

 

 At one time you could also purchase your Transunion score at transunioncs.com but that site seems to have stopped doing that. Wal Mart now offers a TU score to those who have their store card and the Discover version.

 

 Equifax will still sell you a FICO score found here: www.equifax.com/web-myfico-products/

 

It's also likely that the 660 score the dealer pulled is an Auto Enhanced FICO Score which should be accurate.

 

 

 

From a BK years ago to: EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Member
Posts: 2
Registered: ‎12-15-2011
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Re: KIA says one thing and Credit Report says another

Thank you!  I had no idea there was an Auto FICO score.  I pulled the TransUnion and Equifax scores from my FICO and the TU was 704.  Should I go back to the dealer and show them that score?  The other place I got the three scores was Credit Check Monitoring through USAA.  

Moderator
Posts: 16,481
Registered: ‎07-14-2009
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Re: KIA says one thing and Credit Report says another


KYmom wrote:

Thank you!  I had no idea there was an Auto FICO score.  I pulled the TransUnion and Equifax scores from my FICO and the TU was 704.  Should I go back to the dealer and show them that score?  The other place I got the three scores was Credit Check Monitoring through USAA.  


The USAA reports are fine but ignore the scores.

 

The version of TU that you get here is the older TU98. The dealer probably pulled the newer TU04 (and also likely an Auto Enhanced) which will be different than the TU98. All the dealer will go by is what they pulled unfortunately.

 

Do you have a local credit union you could talk to about this? My CU is the only place I go for auto loans. I like being able to go in any time and talk to my LO face to face. Besides all that I can call her and she's tell me my EX score over the phone. You can't beat that for service!!  :smileyhappy:

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Epic Contributor
Posts: 20,294
Registered: ‎03-19-2007
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Re: KIA says one thing and Credit Report says another

[ Edited ]

I would investigate looking into another lendor, such as your local credit union or bank.  They will most likely be more receptive to considering factors other than just the three digit score provided by whoever produced it.

Auto dealerships deal with mass-market approaches, and are not generally known for their credit reporting saavy.

 

Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: KIA says one thing and Credit Report says another

I would also spend some time reading the pros/cons of leasing.  I would never lease a car again.  EVER.

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