Understanding FICO® Scoring

[beamMEup]

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Booner72 wrote:

Hi, Beam.  Nope, no other bank cards  aside from my debit card.  That dang CU!  400 lousy bucks.

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Hey - lots of us have been (and are) there!  CL's are not so much important - you're a PIF'er anyway, right?

FICO doesn't care about CL's.  I love any respectable bank or CU that will work with me, with or without a high CL.  I figure I've got to earn my bacon higher CL's as I go.

[Booner72]

My score took a 9 point dive (Had to get free SW report since nothing working here).  The Lowe's account has reported me as an AU and it's maxed out.  Also 2 new inquiries.  Going to call Lowe's now to remove myself as AU.

[haulingthescoreup]

Congrats on getting the house!

Now you get to make the big mental switch from thinking about scores in order to qualify to thinking about how much money you can scramble up to fix stuff.

A veterinarian I used to work for said that God made horses to keep vets in business. I think that there's probably something similar about houses and contractors/ lumberyards/ home improvement stores/ you name it.

Oh, and septic tank servicers. Can't forget the honey wagon guys.

[Booner72]

Happy - The CU decided I could have a 300 dollar limit Visa and 200 dollar overdraft protection.  So I can cancel FP.

My current EQ score is 624.  Not Happy about that.  Dammmm Lowe's Card.

The CU said as soon as my EQ score gets to 659 I can have a Visa 1% of my gross monthly income.  I don't think I'll ever get there.  EQ hates me.  There is nothing more I can do since I'm stuck with the baddies and my utilization is as low as it is going to get.  Maybe when the mortgage hits I'll get some points but other than that I'm doomed for years.  They're never going to give me a Home Equity Line in a year.

[Booner72]

I AM SO STRESSED OUT.

I finally was able to get my account from "Eliminate ID Theft." I signed DH and myself up two days ago and it took this long to be able to get the access codes.  18 bucks a month for both of us, all three reports, daily pulls if I need or want that.

  It has my EX score in the 500's!  I know it's  FACO but my TU and EQ are relatively close to the real deal.  My EX score has always been my highest score!  **bleep**? 

Also an OLD Nissan account JUST reported the info as of July 2011 to TU - How could this even be possible?  I'm talking at least 6 years, maybe 7.

Walmart already has me reported to all three even though I don't even have the card or the account to be able to access the free TU score which is why I got it in the first flippin place.

WHY IS MY EXPERIEN FACO SCORE SO LOW???????????????  I can't see anything on there that shouldn't be.

These scores really cause people head trips.

I do like the way they show the reports - I think it's a TU True Credit service that "Eliminate ID Theft" uses.

[haulingthescoreup]

After as many times as this has happened to you, why on earth are you worrying about a FAKO score again??

You actually know your FICO Experian score from your recent mortgage pull.

If you're concerned, pull a full Experian report and see if something has popped up on it.

edit: cna't splel

[Booner72]

I don't know why I do this to myself.    It's because I'm so scared something will go wrong again and I won't be able to just move forward once and for all credit report wise.  There is nothing on EX that would indicate WHY the low FAKO score, why I am so concerned is bc they have EQ and TU pretty darn close to actual scores.

[beamMEup]

Hey Booner,

Remember the Goal:  No More B.S.

You know Fako Silly Scores are B.S. 

I pull EIDT and their scores are all over the place.  I don't even look at them anymore.  Some folks like the drama but there's a lot of things way more fun than fako silly scores.  I'd take soap opera drama (I hate hate hate soap operas) over fako silly score drama any day. 

I would send you a chocolate bar if I could.  Please please have a good day - and enjoy the fruits of your FICO good work.

[Booner72]

Yes'm .  Thanks Beam!

[Booner72]

My Walmart FICO Score is 640.  I have no idea why it is that - whether it's the Lowe's card, all the inquiries, the new accounts - all three?  Who knows.