topic Questions. TransUnion Score. in Understanding FICO® Scoring

Questions. TransUnion Score.

theNavigator — Tue, 16 Dec 2008 05:25:40 GMT

I got my score through the free annual credit report, and it switched me over to Transunion and I paid The $8 to get my score. Their scores are based on 501-990? I have a 798, which seems nice. Now I'm more curious to know my fico, but I already pulled the free report without the score from Experian 6 months ago. And planned on doing the last pull with Equifax in a few months. What is the best way to monitor my score. Someone said there may be a big difference between the 3, but the last time I got all 3 scores they were within 30 points of each other. I have been re-building my credit and was so happy to see my score this high. Any insights? Are my other scores probably close to this. What have your experiences been? Thanks in advanced. My one CC, which I planned on not really using anymore, has even raised my limit by $1200 that I was un aware of. It was a fairly big jump, so I am guessing my score is greatly improving if something like that is happening.

Re: Questions. TransUnion Score.

Junejer — Tue, 16 Dec 2008 05:53:41 GMT

Hi Navigator, welcome to the forums. Please read Credit Scoring 101. You have purchased FAKOs (likely Vantage) and few (and I mean very few) lenders use these scores. The majority of lenders use FICO scores, which can only be purchased here at myfico.com. So, to monitor your credit reports, True Credit and some of the others are great. To monitor your scores, myfico is the place for it.

What many do, is watch for changes on their reports from TC et al, and then pull their FICOs. Whenever pulling your FICOs, make sure you google discount codes to save yourself a few bucks.

In summary, forget those scores that you got. The only scores that matter to lenders are the ones they use (and thus should be the only ones that matter to you)--FICOs.

Re: Questions. TransUnion Score.

theNavigator — Tue, 16 Dec 2008 15:01:12 GMT

That's what's confusing me. I keep reading about the three scores etc. So I don't understand it completely. What is the best package to buy so I can get all my Fico scores, and that won't affect my credit score in any way? And does anyone have experience with the score system I got my score on? If so what is the difference between that score and the other fico scores you had? The last time I got all 3 scores they were within 30 points of one another give or take...

I have $0 Balances. 3 CCs. What is my next step, what would be recommended for me? 2 of the 3 CCS are store cards and not regular ccs I can use anywhere. Should I try for another regular cc or what would you suggest. I keep getting offers obviously now they are more eager to get me since I am debt free. Any insight is appreciated. I am looking to get a newer car within the next few months so I am basically trying to maintain good credit and make the best choices now that I have gotten everything straightened out.

Re: Questions. TransUnion Score.

theNavigator — Tue, 16 Dec 2008 15:06:17 GMT

Also, say I get a friend to run my credit again and get all 3 scores like last year. It was a permissable purpose? How does that affect my score. He said it doesn't affect it and is a soft hit. What would you suggest? Am I better off with myfico package or would I be better off just having him run my credit at his car dealership and save a few bucks. Obviously since I already wasted $8 it seems on something that is skeptical in a way.

Re: Questions. TransUnion Score.

Junejer — Tue, 16 Dec 2008 20:17:41 GMT

Nav, I hope that you read the link that I provided in post #2. That will tell you the difference between FICO and FAKO. The scores that you bought, again, were FAKOs and mean very little to anyone, except the organizations that sold them to you.

I am by no means an expert on which package to buy, as there are merits to each. Many like the Suze package and Credit Complete. You'll have to be the judge as to which one suits your needs best, or if your friend can get you true FICOs (not auto enhanced) and not get in any trouble for it, then that's even better for you.

Re: Questions. TransUnion Score.

theNavigator — Tue, 16 Dec 2008 20:44:17 GMT

Yes, I read the link you posted and understand where you are coming from. My main complaint is, I am sure others have gone through this and then had to find out their "REAL" fico scores after an incident like this. What I was wondering was, how can Transunion have the real fico, then sell this garbage other scoring system and score? It's frustrating, because it's confusing and doesn't make much sense in that regard. I understand, I guess I just want the real deal and to get the three accurate fico scores. Through this website I can get that, just have to see what next step to take.

Re: Questions. TransUnion Score.

Junejer — Tue, 16 Dec 2008 20:50:20 GMT

The CRAs realize that more people are becoming "credit conscious", so here is an opportunity to profit from it. There is nothing wrong with that (it is America, after all). And yes, many come here complaining about the same thing as you are doing.

The good heads up is whenever you see them marketing a "credit score" as opposed to a FICO score (they can't legally call it a FICO), you can just about call it a FAKO.

Think about the commercials "I'm thinking of a number...it's 720 and it happens to be my CREDIT SCORE." Or "F-R-E-E that spells free credit report dot com baby." FAKO, FAKO. You can come up with another dozen or so commercials that tout their FAKO scores, hoping that unsuspecting Americans will purchase the scores and they make a profit.

Misleading? Probably. Illegal? No.

Re: Questions. TransUnion Score.

theNavigator — Tue, 16 Dec 2008 22:43:59 GMT

Yeah I get it. Now I just don't know what choice is best for me. What monitoring I should do to see what my real scores are, and what my next move should be, where I wouldn't be affecting my score too much. Guess I need to start posting in other forums on here now. Thanks

Re: Questions. TransUnion Score.

llecs — Wed, 17 Dec 2008 01:39:11 GMT

theNavigator wrote:
Yeah I get it. Now I just don't know what choice is best for me. What monitoring I should do to see what my real scores are, and what my next move should be, where I wouldn't be affecting my score too much. Guess I need to start posting in other forums on here now. Thanks

There is no monitoring system for all 3 FICO scores together. You could pull all 3 though through this site. It doesn't monitor but will give you a new score and report each time you pull. This is via FICO Standard.

Now doing the above will be costly (around $45 for each pull for the 3). However, there are discount codes out there; just google them. I recommend subscribing to a credit monitoring service like TrueCredit. Ignore the scores (FAKOs), but as you see changes in your report, then pull the corresponding CR from here to see your real score change.

Re: Questions. TransUnion Score.

theNavigator — Wed, 17 Dec 2008 02:01:23 GMT

SO let me get this straight? There are 9 scores in total? 3 from each Transunion, Equifax, Experian? Or is it just the three. I may be better off getting my friend to do it, regardless. He got me the 3 the last time, and my credit has only gotten better. Besides that I am truly just looking to do some minor work, such as get another regular cc and then an auto loan.

Re: Questions. TransUnion Score.

Scamp — Wed, 17 Dec 2008 02:06:22 GMT

theNavigator wrote:
SO let me get this straight? There are 9 scores in total? 3 from each Transunion, Equifax, Experian? Or is it just the three. I may be better off getting my friend to do it, regardless. He got me the 3 the last time, and my credit has only gotten better. Besides that I am truly just looking to do some minor work, such as get another regular cc and then an auto loan.

No - 3 scores, 1 from each bureau. See here for the product llecs is talking about. Before you buy, be sure to Google FICO promo codes to get a discount.

Re: Questions. TransUnion Score.

Anonymous — Wed, 17 Dec 2008 03:08:56 GMT

@theNavigator wrote:
Yeah I get it. Now I just don't know what choice is best for me. What monitoring I should do to see what my real scores are, and what my next move should be, where I wouldn't be affecting my score too much. Guess I need to start posting in other forums on here now. Thanks
I have been using Equifax ScoreWatch for quite a while and am reasonably satisfied with the service. You get to see the score changes over time. You also can view for free, two credit reports per year. The reports which are called ScorePower include an up to date Fico Score. The two "ScorePower" reports pretty much suit my purposes. One can buy extra reports with attached scores when needed at a good discount. The score that gets watched at Equifax ScoreWatch is the genuine Fico score.

You can also subscribe to a ScoreWatch for Equifax at MyFico but I have a personal preference for the way Equifax presents the "ScorePower" reports.

Equifax actually will compute the exact account average age (including months) on the ScorePower report.. The MyFico reports seem to round down the average age to the last full year. The score would be pretty much the same from either place however.

I obtain all my other scores for Experian and Trans Union from right here at my MyFico. I buy them a la carte as I need them. Frequently MyFico will send discount promos to my email addy.

At "Equifax.com", I set my "Score Range Preference" to one number only. That number is the last actual Fico score I have received from Equifax ScoreWatch. If the score changes by even one point I will be notified. Since I check ScoreWatch almost every day I rarely ever pay attention to the notifications.

When I check (buy) my (non Equifax) Ficos here at MyFico I pretty much usually don't bother buying Trans Union. I don't think the bureau matters as much as the others. Eq and Ex are the bureaus that are pulled most of the time.

I check my TU report once a year for free at annualcreditreport.com. A few times a year I buy the report and score at MyFico.

That is the game plan that works for me. It gives me the level of ongoing report and score feedback I want while keeping the fees as low as possible.

There are many many ways others use the services. You will just have to experiment to see what works for you. Just make sure that you are getting genuine Fico scores.

Good Luck.

Re: Questions. TransUnion Score.

Junejer — Wed, 17 Dec 2008 03:22:01 GMT

CreditAble wrote:
@theNavigator wrote:
Yeah I get it. Now I just don't know what choice is best for me. What monitoring I should do to see what my real scores are, and what my next move should be, where I wouldn't be affecting my score too much. Guess I need to start posting in other forums on here now. Thanks
I don't think the bureau matters as much as the others. Eq and Ex are the bureaus that are pulled most of the time.

I check my TU report once a year for free at annualcreditreport.com. A few times a year I buy the report and score at MyFico.

Unless you live in TU land, like me, and it's pulled all the time. Most of the lenders, locally pull TU.

Re: Questions. TransUnion Score.

Anonymous — Wed, 17 Dec 2008 03:42:23 GMT

ByrdMan wrote:

Unless you live in TU land, like me, and it's pulled all the time. Most of the lenders, locally pull TU.
What part of the country is TU land?

My TU reports are mostly full of promo inqs for insurance companies. Occasionally one of my CCCs does an account review to see if I'm flying a "baddie" under the Eq and Ex radar.

My car insurance company pulls a TU soft once every two years, but that's about it. Until you spoke up I was beginning to think TU only exists to market my header info to every body who has run out of sales leads.

I never get hard inqs on TU even for opening bank checking accounts.

Thanks for the enlightenment. Can you name a few major CCs who always pull TU? I can always afford a hard inq. on TU.

Re: Questions. TransUnion Score.

Junejer — Wed, 17 Dec 2008 06:18:22 GMT

Their HQ is in Chicago. I am in WI.

Re: Questions. TransUnion Score.

haulingthescoreup — Wed, 17 Dec 2008 13:52:16 GMT

From what I've read here, TU pretty much owns the Chicago area and upper Midwest.

EQ (head-quartered in Atlanta) is awfully big in the Southeast, although on my reports, EX is almost as well-represented. I actually had to go hunting for a TU-puller, and I wasn't thrilled with the card I got and closed it.

Re: Questions. TransUnion Score.

Junejer — Wed, 17 Dec 2008 13:59:44 GMT

With the exception of CUs, all of the banks that people on here and WGMC, etc., swore pulled EQ or EX was actually a TU puller for me.

Re: Questions. TransUnion Score.

theNavigator — Wed, 17 Dec 2008 20:59:29 GMT

When I pay for the services and FICO scores etc. does that affect my credit in any negative way such as inquiries etc? Sorry I am learning all of this stuff for the first time after fixing all my mistakes the past year. If it does affect it, I may just wait it out a few more months until I'm ready to go forward with the newer car etc.. Since that is really my main concern over the next year. Keeping everything fresh and well, and getting the newer car with the best possible rate and payment etc.

Re: Questions. TransUnion Score.

haulingthescoreup — Wed, 17 Dec 2008 21:06:59 GMT

No, when you pull your own scores, it's a soft inquiry.

If I haven't flung these at you yet, you might try reading these:

Credit Scoring 101 (first post, anyway)

myFICO PDF Booklet

Together, they'll give you a good overview of credit scoring and FICO scores in general, and with them in hand, the info you read here on the forums will make more sense.

Re: Questions. TransUnion Score.

theNavigator — Thu, 18 Dec 2008 03:18:26 GMT

Thanks I read the one, but will read the other later.. It seems like a lot to soak in at once with all the BS going around about all different things and credit. I have made the proper changes to improve everything and get my credit in tip top shape. So I just wanted to get on the right track, thanks for all the advice,