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09-18-2012 08:33 PM - edited 09-18-2012 08:50 PM
I have two questions:
1. My lender told me NOT to check my scores anymore that it would bring my score down. I thought when I checked them, it was a soft pull and had no effect. I signed up with Equifax on Sunday evening and then realized I needed to see the FICO scores, so I signed up on myFICO today. Are these hits against me? I am afraid to refresh anything or check anything in fear of bringing down the score. I would like to sign up for the USAA CreditCheck so I can see if anything has been added or deleted, but again I'm afraid if I sign up with that it will bring my score down more.
2. I have talked to two different lenders so they have both done hard pulls on my account. Lender #2 is working on a rapid rescore with someone for me. Is that yet another pull? And if we want to check if it made an increase is that ANOTHER pull?
09-19-2012 08:09 AM
Ditto, checking your own credit via a service won't have any credit impact. Your credit is pulled via a soft inquiry and those aren't scored.
If you are applying, pulling from myFICO won't hurt anything. The EQ FICO on here will very likely match your lender's pull (if pulled the same day for accurate comparison). The TU FICO on here may or may not match. While some lenders still pull the TU FICO on here, there are some lenders that do not use the same TU FICO version as found on myFICO. In other words, you might see some significant score differences for TU.
Rapid Rescore shouldn't result in a new pull, unless they pull your reports again. FICO is cool in that it ignores duplicate mortgage, SL, and auto inquiries if pulled within a certain time frame. That time frame varies by FICO score version, but is generally 30-45 days based on what lenders use the most. So, if you are about to go into underwriting, or there already, you are still probably inside that window whereby FICO would ignore the inquiry.
09-20-2012 05:59 AM
Your lender is either incredibly incompetent,or just plain stupid.You can check your own credit all day long with no negative impact on it. I would hate to think that they are intentionally trying to mislead you on your real scores to increase an interest rate. Go into anything with these folks with your eyes open.
09-20-2012 07:11 AM