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@Carebear2014 wrote:
So what if 2 of your scores are good but one is bad? Will I still have a hard time getting a house and car loans?
Car loan probably depends on which report the lender uses. Home loan will take your middle score.
@Carebear2014 wrote:
Thank you for the replies. What else can I do to increase my score? Or should I even bother? Increasing it seems impossible with the formula change. I already pay my bills on time, have nothing in collections, have low utilization, etc.
Carebear,
I get your frustration with the whole score changes and different formulas being used (based on different versions of FICO). Unfortunately, there is not much you can do to raise your score quickly. Credit is a long term investment and as such, it will take a long time to get where you would be happy with it. Continue to pay your bills on time each month and with time, the scores will go up.
When one first start the rebuilding process, the scores are usually pretty low, so as one works on cleaning up their credit reports, scores tend to move in one direction or the other, but once things settle down, movements on the credit report are not as rapid - notwithstanding FICO version that is being used has changed.
Wow. Was surprised to find someone who has had the same experience I had. My transunion score dropped 45 points with no reason behind it. Transunion was absolutely no help, tried to charge me for a report, etc., etc. Once I got the report from them, of course again, no reason or explenation. It should be going up just like Equifax. Has anyone figured this out? Are they trying to push people into buying their advertised products?
There's always a reason behind a 45 point drop (or gain). It's just figuring out what that reason is.
@Carebear2014 wrote:
I keep a balance of 0 on all 3 of my credit cards.
Never let all cards report a zero balance, always let ONE card report a balance at statement cut, $10-$15, then pay in full. You are penalized for zero utilization, rewarded for very low utilization on your open revolvers. Try good will letters on the paid collections for removals, you have nothing to lose by trying since they are paid in full.
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@Anonymous wrote:Wow. Was surprised to find someone who has had the same experience I had. My transunion score dropped 45 points with no reason behind it. Transunion was absolutely no help, tried to charge me for a report, etc., etc. Once I got the report from them, of course again, no reason or explenation. It should be going up just like Equifax. Has anyone figured this out? Are they trying to push people into buying their advertised products?
Don't mean to be that guy but HOLY NECRO batman.