Which monitoring service is most accurate? Freaking out!

[Anonymous]

I am rebuilding my credit since BK discharge on 02/17. I have been trying the different credit monitoring services on trials and discounts. I started with a trial with TU, added MyFICO 3 weeks ago, and today I used the 2nd adult on the family plan with EQ. I figured it would make it easier for filing online disputes. Also I would know which service is best for me by the end of the trials to just keep one.

My FICO's range from 574-615 after discharge (Feb.). By Mar. 29th I was approved for $300 from CapOne Platimum, and Apr. 1st approved with my husband for CapOne Auto loan for $26,000 for 2016 Trailblazer. A week later my FICO scores went up to and now holding at 640-669 since. My Vantage scores on CK went from low 600's at discharge, improved to 711 (due student loans reporting), and lowered to 674-677 in May (CapOne Auto now reporting). 

However, I just about fell out of my seat when I saw my scores and report with EQ service. My credit scores were 100+ pts lower on all 3 CRA's, Worse, my credit report had additional lates and remarks the other services show as zero. EQ has differences reporting are for all 3 CRA's, but doesn't match the reports I got from TU, MF, and CK.

MyFico, TU, and CK reports are pretty much the same for scores, etc. But EQ has a lot more negatives reporting such as a lot more late pays, still show defaulted student loans not seen on the other services. EQ also has my credit scores as EX-574, TU-575, EQ-626. are not even close to what CK, TU, or MF are showing today.

I am committed to repairing my credit and raising my credit score. I spend night and day researching, writing, and sending out disputes and goodwill letters.

I finally got the last 3 letters mailed out today and was looking forward to having my free time back while I wait the 30 days out. Now I don't know if I should instantly start writing letters, whether to avoid applying for credit if my scores really are in the 500's, and should I be disputing the items EQ is showing or ignore it entirely?

My credit file is already a hostage to old and new student loan servicers. I have 26 accounts on my credit file--11 accounts are my current student loan servicer NAVIENT, 2-CapOne accounts, and the other 13 are closed student loan servicers 1-yr from the baddies falling off so I can apply for my 2nd bankcard. While my scores are getting better, I am too afraid to spend more than $40 on my CapOne card so I feel like I still am not rebuilding yet. I'm just feeling really defeated now.

Has anyone experienced a similiar issue? 

[Anonymous]

I believe that the EQ Family Plan you are referring to is this... am I right?

http://www.equifax.com/compare-products/

If you read the fine print, you'll see that its scores are not FICO scores, nor are they Vantage scores (which Karma uses).  I would personally not use it because the scores will be so very different from what any lender or CC issuer will see.

I am puzzled by the fact that (as you describe it) the EQ credit monitoring system is showing radically different stuff on its reports (different from what you see on myFICO or Karma, say).  E.g. many more lates, etc.  Very weird.  Maybe someone else can comment about that.

As far as CMS options (credit monitoring systems) you don't mention Credit Check Total.  I think you should give them a try.  Their trial package costs only $1.  It will give you a merged 3B report (all three bureaus) and a FICO 8 classic score for each.  Some people just loop that package once a month for $1 each time and they seem pretty happy.  (That involves cancelling it and re-enrolling.)  Other people just stick with it for (I believe) $15/mo.

You write:

While my scores are getting better, I am too afraid to spend more than $40 on my CapOne card....

You may want to get someone here to walk you through how credit cards report to the bureaus.  You can actually spend quite a bit more, but you want to make sure the card always reports a very small amount, like $10-20.  ($40 is too much.)

Alternatively, you can simplify matters by just spending a small amount on the card every month.  Anywhere between $5 and $25.  And just set up autopay to pay it off.  All other purchases you can make with a debit card.  While you are rebuilding your goal should be perfect payments and small balances -- it's not a tool for buying lots of stuff.  Use your debit card for that, untill all your credit badness is fixed.  A regular history of small balances always paid in full after the statement prints will look great.

[Anonymous]

Thank you for the info.

 I am definitely cancelling the EQ-Family CMS. I also read a few complaints on this forum about EQ. When I log on to EQ CMS, it's like I am looking at outdated credit report I had right before the bankruptcy discharged. 

I don't think I have heard of them before, but I will check out Credit Check Total.