Reply
New Visitor
dream6444
Posts: 1
Registered: ‎11-03-2007
0

MyFico and Credit Scores

Hi, this is the first time I've ever used a service like this. Someone I know said they used something like it before, and because of the program checking and watching their credit, their score actually dropped (they said it showed as frequent credit history checks.)
 
I was just wondering how this service is different from that?
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: MyFico and Credit Scores

Checking your own reports does not affect your scores.
This service uses soft pulls that does not affect scores.



dream6444 wrote:
Hi, this is the first time I've ever used a service like this. Someone I know said they used something like it before, and because of the program checking and watching their credit, their score actually dropped (they said it showed as frequent credit history checks.)
I was just wondering how this service is different from that?



Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: MyFico and Credit Scores

If this person got a message about frequent credit history checks, it was either talking about hard inquiries from applying for credit cards, car loans, etc., or maybe it was a non-FICO scoring site. (Around here, we call those scores FAKOs.) The FAKO sites not only have bogus scores, a lot of their advice that they give out in connection with their scores is dreadfully wrong as well.

I do use a credit monitoring service called TrueCredit, from TransUnion. I use it to pull all 3 reports almost daily. It gives FAKO scores, but I ignore them. Each time I pull a report, it generates a soft inquiry for all three bureaus, and you should see how many softs show up on the reports I pull from the bureaus! :smileyvery-happy: But they don't do a thing to my scores.
* 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

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}