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DCC
New Member
DCC
Posts: 5
Registered: ‎04-04-2007
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comparing scores from the three major CB's

I am preparing credit to purchase house in early 2008. Recently pulled TU, Experian, and Equifax CR's. The TU and experian CR's have my score at about 680 & 660 respectively, but the equifax has it at 577! Discovered this when my credit union denied me for a auto refinance based on the equifax report. I compared the 3 reports and all the same info is there - some good, some bad. The TU shows a BR from 1997 that is scheduled to drop in April 2007, but the Equifax with lower 577 score does NOT show it.???? I have one CC with a $300 limit that is PIF each month. I've had auto loans since 2003. Never missed a payment on anything else in years. Stable job since college brings in $50+/yr. 3 old CC's were charged off from 2001-02 and are still on CR as unpaid. When should these go away? Will they ever "stop" being reported? Anyone know why the difference in scores may be happening? Also, any tips for boosting scores in the coming 6-9 months? In 2004 my score was 520's, don't understand why the equifax report is not consistent with increased scores from other reports. Thanks in advance.
Frequent Contributor
HouseHunter
Posts: 351
Registered: ‎04-02-2007
0

I have a similar problem...I want to purchase a home befo...

I have a similar problem...I want to purchase a home before the end of the year and have been paying attention to my credit scores for the first time in my life.  My EQ report yet clean and my score is FAR, FAR less than the TU and EX scores.  My TU report is clean as well but is 25 points less than my 700+ EX report score and, get this, EX is the only report that contains any negative info at all - a CO from almost 7 years ago.  This just doesn't make sense to me.  A CO, the same one currently showing on EX, just dropped off of my TU report and it increased my credit score by 98 points!!!  There is over a 100 point descrepancy between my highest score and my lowest score.  How can this be when my highest score is the only one showing a negative item?  Why is there such a big difference between EQ and the other two?  It's not just me, I've been looking at forums all over the internet and the EQ score is almost always the lowest of the three.  Why is EQ so hard on most people?
 
As for your questions "When will these go away? And will they ever stop being reported?"...it is my understanding that a negative item will stay on your credit report for seven years after the account defaulted and was charged off.  (I could be wrong, this is just my understanding after practically living on these forums for the last few weeks.)  It is also my understanding that a bankruptcy, tax liens and other similar items will remain for 10 years. 
 
To raise your scores in the next few months, pay your bills on time or before they are due.  I had horrible credit a year ago and barely got approved for a car loan.  That is the only line of credit that is current being reported (just got a new line - installment - a couple of months ago, not yet showing up.)  By paying on time, my credit went from not being able to get anything I applied for to my scores being what they are now and being able to get an additional line of credit.  My only problem now is that I have no revolving credit and, from my FICO report, this could hurt me in the eyes of lenders.  So, I'm working on that. 
Regular Contributor
SoulSmilen
Posts: 165
Registered: ‎03-13-2007
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Ironic.. my Experian is the only one that DOESN'T have th...

Ironic.. my Experian is the only one that DOESN'T have the one negative account that shows on TU and EQ, has 2 more positive accounts than TU and EQ, yet is my lowest score. Other than these two differences, the rest of the information on Experian is identical to the other 2.. go figure is right.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007
0

How did you pull the scores?



DCC wrote:
I am preparing credit to purchase house in early 2008. Recently pulled TU, Experian, and Equifax CR's. The TU and experian CR's have my score at about 680 & 660 respectively, but the equifax has it at 577! Discovered this when my credit union denied me for a auto refinance based on the equifax report. I compared the 3 reports and all the same info is there - some good, some bad. The TU shows a BR from 1997 that is scheduled to drop in April 2007, but the Equifax with lower 577 score does NOT show it.???? I have one CC with a $300 limit that is PIF each month. I've had auto loans since 2003. Never missed a payment on anything else in years. Stable job since college brings in $50+/yr. 3 old CC's were charged off from 2001-02 and are still on CR as unpaid. When should these go away? Will they ever "stop" being reported? Anyone know why the difference in scores may be happening? Also, any tips for boosting scores in the coming 6-9 months? In 2004 my score was 520's, don't understand why the equifax report is not consistent with increased scores from other reports. Thanks in advance.

 
Did you pull them all from a FICO site of from the individual bureau sites and include the scores? If you pulled them from TU and Equifax they use a different scoring model. Those scores are generally higher than a true FICO
New Visitor
abc123
Posts: 3
Registered: ‎04-04-2007
0

Line of Credit + Credit Clean Up + More

[ Edited ]
I just had a one hour discussion with a very knowledgeable person named Daphne who works with a company called (edited by Admin) This company is HIGHLY professional and trustworthy and are extremely patient. Daphne can explain things clearly and even provided insight into ways that they can "add" lines of credit to your report to help heal your credit. I am on this site today because Daphne advised me to pull my credit myself. She explained that this constitutes a "soft pull" in the eyes of the lender. Next I am going to send her a copy of my report and sign on for her services. I will keep you all posted on my progress if anyone is interested. Cheers!


Message Edited by Barry on 04-06-2007 06:26 AM
Regular Contributor
okrogius
Posts: 169
Registered: ‎03-16-2007
0

"I just had a one hour discussion ...."   I wou...

"I just had a one hour discussion ...."
 
I would very very strongly suggest avoiding going through a company to repair your credit. No one cares about your credit as much as you do, and you can be much more effective with this process. Furthermore, there are additional laws regulating what such companies can do, so in fact there are some thing potentially helpful to you that a repair company can not legally do for you. Finally, enrolling in a credit counseling service will get that notation on your report, which is while it's on it, may have adverse consequences on your ability to get credit for instance. If you search any financial forums, the general opinion about CCCS is fairly unanimous. Plus, there are quite a few stories such that these companies require you to close your accounts, etc. While it's better to not have any credit than to have a file full of charge offs, an empty credit file is still a bad file.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007
0

Trustworthy my eye!

[ Edited ]


abc123 wrote:
I just had a one hour discussion with a very knowledgeable person named Daphne who works with a company called (edited by Admin) This company is HIGHLY professional and trustworthy and are extremely patient. Daphne can explain things clearly and even provided insight into ways that they can "add" lines of credit to your report to help heal your credit. I am on this site today because Daphne advised me to pull my credit myself. She explained that this constitutes a "soft pull" in the eyes of the lender. Next I am going to send her a copy of my report and sign on for her services. I will keep you all posted on my progress if anyone is interested. Cheers!


 
I hat to throw water on your idea.  As te PP said, you would do better o work on this yourself.   More than likely they will simply continuously dispute negative tradelines as 'not mine'  Some may fall off but a determined collector will just keep on verifying.   As far as adding old tradelines, unless the cardholder is dead, no sane person would allow you access to their credit card lines, seeing that you  could just call up the issuer and request a card in your name.  If they are dead, its illegal. The las time I saw such a service offered it was 5k I sure you could put that mony to much better use.
 
What happens if this marvelous tradeline you have added to your account is suddenly coded fraudulent, maxed out  or worse yet included in BK?
 
Most intelligent, highly professionaly and trustworty organizations are going to tell YOU how to fix your report not offer illegal or immoral scams such add adding bogus tradelines or opening up busines credit with an EIN to reestablis credit.



Message Edited by Barry on 04-06-2007 06:27 AM
New Member
sweet_tea
Posts: 1
Registered: ‎04-03-2007
0

I ran my reports last year and found that TU was the only...

I ran my reports last year and found that TU was the only one that pulled up an old utility bill.  This year it also pulled up a judgment against about the same utility bill.  The judgement is from 2003 and this is the first time I've seen anything about it.
 
Ex and Eq have always been the least in depth in my experience. 
 
I am totally confused by the vantagescore.  This was the only site that gave me my FICO score which was higher than all three of my vangtagescores.  According to vantagescore I'm sub-prime but my FICO score lists me as having good credit.
 
I hate the fact that now my financial future depends on which report is pulled.  It's seems so random.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007
0

The Vantage score



sweet_tea wrote:
I ran my reports last year and found that TU was the only one that pulled up an old utility bill.  This year it also pulled up a judgment against about the same utility bill.  The judgement is from 2003 and this is the first time I've seen anything about it.
 
Ex and Eq have always been the least in depth in my experience. 
 
I am totally confused by the vantagescore.  This was the only site that gave me my FICO score which was higher than all three of my vangtagescores.  According to vantagescore I'm sub-prime but my FICO score lists me as having good credit.
 
I hate the fact that now my financial future depends on which report is pulled.  It's seems so random.


 
The Vantage score was designed for people with limited credit history or past credit problems to get a shot based on their recent performance.  That being said, this score takes into account the past two years of account acivity. 
New Visitor
credits
Posts: 2
Registered: ‎04-05-2007
0

Often times a credit score varies due to the remarks on t...

Often times a credit score varies due to the remarks on the trade lines, pay close attention to the remarks as what might seem like a harmless remark could be tanking your score.

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