topic Re: Experian Credit score drop????? in Understanding FICO® Scoring

Experian Credit score drop?????

hoppermech — Mon, 19 Dec 2011 20:18:54 GMT

On or about Nov 25 I applied for a line of credit and was denied but when I received my denial letter, it said that my credit score was 640 and they pulled it from Experian. Last night I went on Experian's website and bought my score from them and much to my dismay it was only 564. Is the score on the website a faco score? Which one do I trust and use as a guide as to where I stand credit wise

Re: Experian Credit score drop?????

Anonymous — Mon, 19 Dec 2011 21:42:57 GMT

Ignore the score on the EX website. It's a fako. Look at your denial letter and see what range was givin for the score you were provided.

Re: Experian Credit score drop?????

namvet — Mon, 19 Dec 2011 21:50:08 GMT

+1 Might want to do a little research about credit scores. It's all here if you want to take the time to take a look. Good luck.....it's not rocket science!

Re: Experian Credit score drop?????

hoppermech — Mon, 19 Dec 2011 22:02:17 GMT

what do you mean by by see what range was given for the score that was given? I looked over the denial letter and didnt see anything about a range, also Namvet i have been researching on this site, looking for more of a confermation of what I was thinking

Re: Experian Credit score drop?????

GregB — Mon, 19 Dec 2011 23:06:08 GMT

The Experian site sells a consumer score that is called the Plus Score. Sometimes they just call it the Experian Credit Score. It has a range of 330-830 and is not used by ANY lender. That is almost certainly what you bought from Experian.

The lender would have probably used a FICO Score of some kind. Look at the letter carefully for additional clues as to what score was used. FICO "Classic" scores have a design range of 300-850 and that is probably what was used for an app for a line of credit.

Without any other info except a credit score and the CRA, we are left with just guesses as to the type of score that they used to deny your application. We can be sure that the score you bought from EX is almost completely useless.