@kahmyah wrote:This is a long loaded question, so please bare with me. Also, I would like to thank you all in advance for any info that you can provide to me.
History:
I recently pulled my credit scores.. One set of scores I received from the xperian site had me at 658 EX, 637 EQ, and 640 on TR. I also pulled my scores from another site and I received a 644-TR, 634-EX, and 629 EQ. So imagine my confusion as it appears my scores are all over the place. Which ones do I go with? I don't know if these scores are considered good, bad, poor, or forgetaboutit your a loser. At this time, I only have 3 open credit cards, which I try and pay off in full every month. Well since the holidays have come around, that may take a little bit longer, no more than 3 months max I hope. I only have 6 open account total I believe. I managed to get mortgage and bought a new home which I will not bore you but I cried literally because I didn't think anyone would give me a mortgage because of my prior credit history.. Outside of my mortgage, I have no loans of any kind , car or otherwise. I did have some issues on my credit report that I thought would come off after 7 years, but it appears they are still on my credit report.
My questions are...
One what is a good score range to be in..Do you add up all the scores together to get a composite this is your type score.
What is a good number to have for debt to income ratio and does that factor in scoring.No one ever ask you your income in your credit scoring I thought or see.
Are there another set of numbers that are reported outside of these that I should be looking at and if so how or where do I get those
Please help.. Thank you very much in advance..
K
All of the scores you have there are what's called FAKO scores. They are useless. Your FICO score is what you need to know as creditors will look at this score almost always. Very few lenders use vantagescore. I would pull your EQ/TU scores from this site, you cannot pull EX as they do not work with FICO anymore since 09 (Only a CU in PA will give you a EX FICO).
@kahmyah wrote:This is a long loaded question, so please bare with me. Also, I would like to thank you all in advance for any info that you can provide to me.
History:
I recently pulled my credit scores.. One set of scores I received from the xperian site had me at 658 EX, 637 EQ, and 640 on TR. I also pulled my scores from another site and I received a 644-TR, 634-EX, and 629 EQ. So imagine my confusion as it appears my scores are all over the place. Which ones do I go with? I don't know if these scores are considered good, bad, poor, or forgetaboutit your a loser. At this time, I only have 3 open credit cards, which I try and pay off in full every month. Well since the holidays have come around, that may take a little bit longer, no more than 3 months max I hope. I only have 6 open account total I believe. I managed to get mortgage and bought a new home which I will not bore you but I cried literally because I didn't think anyone would give me a mortgage because of my prior credit history.. Outside of my mortgage, I have no loans of any kind , car or otherwise. I did have some issues on my credit report that I thought would come off after 7 years, but it appears they are still on my credit report.
My questions are...
One what is a good score range to be in..Do you add up all the scores together to get a composite this is your type score.
Only on a mortgage would they take all of your scores and use thaverage for a decision. A good score range is 660-720. 720+is pretty much excellent credit.
What is a good number to have for debt to income ratio and does that factor in scoring.No one ever ask you your income in your credit scoring I thought or see.
Try to keep it under 50% but that may be hard with a new car loan or installment loan reporting.
Are there another set of numbers that are reported outside of these that I should be looking at and if so how or where do I get those
Yes, on this website. You can pull your FICO EQ/TU scores and reports here.
Please help.. Thank you very much in advance..
K
Also please provide us a snapshot of your credit profile
-Number of CC's, installment loans
-How long they have been open
-Any Baddies??
- INQ's
We can help give you a good outlook on what to do in the future!!!
@Anonymous wrote:
@kahmyah wrote:This is a long loaded question, so please bare with me. Also, I would like to thank you all in advance for any info that you can provide to me.
History:
I recently pulled my credit scores.. One set of scores I received from the xperian site had me at 658 EX, 637 EQ, and 640 on TR. I also pulled my scores from another site and I received a 644-TR, 634-EX, and 629 EQ. So imagine my confusion as it appears my scores are all over the place. Which ones do I go with? I don't know if these scores are considered good, bad, poor, or forgetaboutit your a loser. At this time, I only have 3 open credit cards, which I try and pay off in full every month. Well since the holidays have come around, that may take a little bit longer, no more than 3 months max I hope. I only have 6 open account total I believe. I managed to get mortgage and bought a new home which I will not bore you but I cried literally because I didn't think anyone would give me a mortgage because of my prior credit history.. Outside of my mortgage, I have no loans of any kind , car or otherwise. I did have some issues on my credit report that I thought would come off after 7 years, but it appears they are still on my credit report.
My questions are...
One what is a good score range to be in..Do you add up all the scores together to get a composite this is your type score.
What is a good number to have for debt to income ratio and does that factor in scoring.No one ever ask you your income in your credit scoring I thought or see.
Are there another set of numbers that are reported outside of these that I should be looking at and if so how or where do I get those
Please help.. Thank you very much in advance..
K
The scores you pulled from EX site are Fako score's, pay 0 attention to them and so are the other scores you pulled, if you want to know your REAL FICO scores you can pull your EQ and TU FICO scores and reports here.
And no, you don't combine your scores, each score is individual to each report, when you apply for credit, the lender will usually pull one report and base your creditworthiness off of that report and FICO score, other lenders will pull 1, 2 or all 3 reports and base your creditworthiness off of all your reports and scores.
Lenders do not base your creditworthiness from just your scores, most of what they are looking at is your reports, payment history, AAoA's, util, and many other factors that are on your reports.
IMO, a decent range to be in scorewise is at the very least 660 and above (that is not great credit) but is usually good enough for a Mortgage, some members here have had success getting decent CC's with FICO's in the 660 range, but 700 and above is really a better place to be. What's considered Excellent credit is 760 and above.
As far as debt to income, my CU will not give you a loan or a mortgage if your debt to income is above 40% IIRC. Your debt to income is not factored into your FICO scores, but your revolving debt to avail credit is. (that's called utilization) and the best is 1-9% util.
If you want to get your scores to their highest you would need to have all of your CC's reporting a 0 balance, with the exception of one of them, FICO likes to see one CC reporting a small balance of 1-9% of it's CL, and the rest paid to 0. This is what we call "Maxing" your scores.
I hope any of what I said makes sense to you.
Hopefully a MyFico Expert will chime in with an opinion of their own, correcting me if I gave you any inaccurate info.
Wishing you the Very Best.
+1
