Re: Credit Card debt AND Line of Credit debt...Wil
[ Edited ]
l my score ever improve?
01-21-2013 07:06 AM - edited 01-21-2013 07:09 AM
Don't confuse EQ=Equifax and EX=Experian.
You need to see reports from all three to know that the accounts are similar on all three CRAs. Assuming they are similar then the only really worthwhile credit score available to all consumers is the EQ FICO sold here.
You haven't answered the question about what type of loan application yet. IF it is a mortgage then the EQ FICO here is exactly what would be pulled for a typical mortgage. You refer to "taking over existing bank loan" so I'm assuming it is a new mortgage application. Large mortgages can have some different rules. Conforming loan limit in high cost areas is $729,950.
The TU and EX score version used on a typical mortgage will not be available to you. The TU FICO sold here is one major revision earlier but might still be worth $20 for you. EX doesn't offer the EX FICO II used on a mortgage to consumers anymore. A few CUs offer it to their customers.
Edited to add: There was a website that looked like it might off all three "mortgage" scores to consumers a year or two ago. They weren't able to get it going and people were shocked when they found out a years worth of monthly scores was going to cost them around $400 or so.