topic Re: Ok got my credit report, have some questions. Help :) in General Credit Topics

Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 15:52:43 GMT

Hey guys long time no post.

Haven't checked my credit report in about 4-5 months. Went to PrivacyMatters.com and signed up for their free trial (Which isn't free, it's a buck...and I am closing it before they charge me).

Here are my "updated" "credit scores".....

Transunion- 735

Experian- 720

Equifax- 676

The Equifax is hurting me the most it seems. None of my cards are seeming to report to Equifax.

My CC and balance's are:

American Express Blue: Balance- 1,800, CL 3,200

Paypal GEMoney- Balanace- 200, CL 1,800

Capital One- Balance- 0, CL 1,000

Credit First National (Tires Plus charge account)- Balance 400, CL 1,400 (My boss bought new tires, he is going to PIF this month to me)

CreditOne- Closed account, 0 balance, reported closed no problems. (They wanted AF and horrible payment rates, I said GOODDAY SIR)

So, pretty much AMEX didn't update it says I owe them 2,400 but I paid 600 the past 2 days. I am going to work on this throughout the month and probably get it down to about 800 dollars by the end of the year. I'm going to pay my Paypal Mastercard down to probably 30 dollars just to leave a little on there for them to see by this year as well. My boss got tires and owes me 400 and he's going to take care of it by this month as well.

The only thing that really differs from my CR's is the INQUIRIES. Experian has 2, TransUnion has 4, and EQUIFAX HAS 8.

Now, 2 of those 8 from EQ are from 1/16/07....which will all be gone within the month. Another is from 3/2/07, which will also be gone in 3 months. And one from 3/6/07....so those will be 4 or 5 Inquiries gone from Equifax....I wonder if they hurt my score since I think those were all hard pulls from when I applied for credit. I think 1 from TransUnion will be gone in 3 months as well. I wonder if these will help my score a little.

So, wish me luck guys I am working on getting them all to 1-3% UTIL or PIF. These inquiries will be gone, so maybe in 4-5 months I will see a slight improvement on my EQ report, because it's **bleep** near a 50 point difference!

Thanks,

Kenny D.

Re: Ok got my credit report, have some questions. Help :)

llecs — Sun, 07 Dec 2008 16:03:07 GMT

Where did you get the scores from? Privacy Matters? myFICO?

Privacy Matters does not offer FICO scores.

Re: Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 16:09:42 GMT

privacymatters, what I normally do.

myfico wants what, 50 dollars to check them? No thanks... ouch!

Re: Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 16:21:14 GMT

Ok well I signed up for that Free 30 day trial of score watch.

It says I have a 671 FICO score on Equifax. Not much of a difference from the PrivacyMatters

Payment history: Great

Amount of debt: Very good

Length of credit history: Not good (Longest account is maybe 2 years)

Amount of new credit: Good

Then it logged me out for technically difficulties...hmmm

Re: Ok got my credit report, have some questions. Help :)

laz98 — Sun, 07 Dec 2008 17:10:14 GMT

google for discount codes. yes, it can be expensive, but i think it's worth it. just don't pull them all the time!

Re: Ok got my credit report, have some questions. Help :)

Junejer — Sun, 07 Dec 2008 17:12:24 GMT

Hi Kenny, any correlation to your FICO score with Privacy Matters is purely coincidental. If you want real scores that lenders use, then you are going to have to get them from myfico.com. You can google myfico discount codes and get up to 25% off of the purchsae price.

Most on this forum, use a credit monitoring service for the monitoring, not the scores and advice. Following the advice of a FAKO provider can do damage to your scores.

Re: Ok got my credit report, have some questions. Help :)

llecs — Sun, 07 Dec 2008 17:30:00 GMT

I am trying to cook and type at the same time, but the reason I asked about your scores because PM doesn't offer FICO scores at all. In fact, your FAKO through PM can increase and FICO decrease, and vice-versa. My last CA dropped off and my EX FAKO dropped 8 points while my EX FICO jumped 58. Moreover, I never get dinged for new inquiries on my FICOs, but my FAKOs drop as much as 8 pts per inquiry. Ignore FAKOs, but use the reports from PM to pull new FICO reports whenever there is a major change and you want to know the score impact.

So, none of the TLs you reported to EQ?

Inquiries only impact you for the first year. FICO won't even read them if older. So, any inquiry from 2007 isn't hurting you. And don't feel bad about the inquiries, my latest count on EX is 35 and 26 on EQ.

If you pay your cards down to the 1-3% level, you'll get about a 30-35 point bump.

Re: Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 17:40:23 GMT

I don't think you guys read my follow-up post.

I went to myFICO.com and signed up for the Credit Watch, and it gave me my score of 671 for Equifax. I guarantee it will be 700+ once I pay the 2,500 off and have all my balances at 1% UTIL.

They said it doesnt hurt my score to check it, I think myFICO said that. If I sign up for that 49.99 a year thing, does that give me all three reports and scores whenever I want? I sure don't want just one time deal, I want them updated monthly or whenever a change is made and my score to be reflected.

Nothing on my credit report is bad. I am on my way to 800 scores, without a doubt Looking to take advantage of the recession and buy a house in a year when they go bottom up (Already happened in my area, I say give it another year and I can get a house for 10-15% less than the price now. Looking for a nice starter home, 100k at the most you know.

If you guys have any or tips on this let me know. I consider myself a very responsible individual, and always put bills before pleasure....as my score will project

Re: Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 17:41:56 GMT

@laz98 wrote:
google for discount codes. yes, it can be expensive, but i think it's worth it. just don't pull them all the time!

I am looking at your sig....and you pulled the scores 2 times in the past month....what do you mean don't pull them all the time?

Re: Ok got my credit report, have some questions. Help :)

Anonymous — Sun, 07 Dec 2008 17:48:56 GMT

There is no service that monitors all 3 FICO scores. With a coupon(use google) you can get all 3FICOS for ~$32.

Re: Ok got my credit report, have some questions. Help :)

laz98 — Sun, 07 Dec 2008 18:15:42 GMT

@Anonymous wrote:
@laz98 wrote:
google for discount codes. yes, it can be expensive, but i think it's worth it. just don't pull them all the time!

I am looking at your sig....and you pulled the scores 2 times in the past month....what do you mean don't pull them all the time?

you mentioned you thought it was expensive to pull your FICO scores, which is why i suggested you not pull them all the time, because yes, it can add up fast, especially if you don't have the extra cash.

i pulled mine the first time to get a starting point. the 2nd time was to see the impact of opening up several new accounts. the 3rd time was to see the final damage once they were all reporting.

not everyone pulls them so often, & some people pull them more often. it's an individual choice, & sometimes depends on whether you are trying to clear up bad things on your credit or not.