topic Re: Which is better? in General Credit Topics

Which is better?

IOBA — Mon, 12 Dec 2011 01:31:46 GMT

To get real FICO scores and credit reports, which service would be best? (I know we can't get Experian FICO scores, right?)

So I am looking for an affordable way to track Equifax and TU while enduring the wait game.

Re: Which is better?

Anonymous — Mon, 12 Dec 2011 12:55:19 GMT

@IOBA wrote:
To get real FICO scores and credit reports, which service would be best? (I know we can't get Experian FICO scores, right?)

So I am looking for an affordable way to track Equifax and TU while enduring the wait game.

Hmm, that is a very interesting. Are you referring to myFICO.com services or an alternate site? If I were you I would actually try looking into credit cards that provide FICO scores. Just a few hours ago I was looking at a Walmart Discover CC and they offer you a free monthly FICO® Score when you enroll in electronic statements online.

That is all I have for now , but if you manage to find other ways please let us know .

Re: Which is better?

IOBA — Mon, 12 Dec 2011 15:04:16 GMT

I think the two I have heard the best things about are myFiCO and USAA credit monitoring services.

Any feedback on those two?

I am looking for affordable since we are in the process of purchasing a home.

Re: Which is better?

Anonymous — Mon, 12 Dec 2011 15:19:43 GMT

It depends upon your needs.

Personally, USAA is fine because I don't need an actual FICO score. Their plus scores are fine for monitoring changes in utilization and when the last 4 late payments fall off my report in August.

I like the idea of Walmart's free TU FICO score but lack the expertise to know if their version is useful. By useful, I mean specifically germane to mortgages or credit cards that aren't Discover.

I feel we all get a little too wrapped-up in the "All non FICO scores are garbage" idea and ignore what we're actually trying to accomplish. Some research and an alternate score would probably serve most situations reasonably well. By now, we know which companies hate high utilization, late payments, BKs, short history, too many inqs, and so on.

Even when ready for a mortgage, I don't really have a way to tri-merge reports. At the very least I'll ask for an Innovis report, LOL!

FICO's needs are simple, to sell scores and protect the value (perceived or real) of it's product.

I think everyone wants the score lenders use to make credit decisions. I'm just doubtful every person's situation calls for it.

Re: Which is better?

IOBA — Mon, 12 Dec 2011 15:29:58 GMT

Thanks...looking for the actual FICO scores (maybe because I have a wrong perception) because the one lender said the two low scores are 692 and gosh darn, if it weren't so low, we could get a much better rate/terms. The one lender said things had to be above 700 and another said above 740. Then there's the lender who said flat out what crappy credit we have to have such a god awful low score! Lol - 692 is not THAT bad! And the other scores are above 700.

PS - that lender refused to let us see the score - said it was illegal to show us the reports or the scores. Not working with him...but I do want to have a good idea of FICO scores (real ones) and to know how things report. I have our free ones received in November 2011.

So...what would be the best one to go with?

Re: Which is better?

Walt_K — Mon, 12 Dec 2011 15:34:52 GMT

I am fairly certain I've read about one credit union or bank or some such service on here that will give you access to your EQ FICO score for a fairly low monthly fee, but for the life of me I can't remember what it is. I tried searching for it but didn't find it. Maybe you can locate it, or someone can chime in. If you can find what I'm talking about, that would take care of EQ. Other than that, I'm not sure of any cheaper way than signing up for ScoreWatch if what you are wanting is your scores and not just access to the report.

TU Quarterly Monitoring is pretty cheap. You don't get your scores every month, but it can help you keep general track of your TU FICO, at least your TU98 FICO. The Walmart card, as mentioned above, is obviously a cheap way to go, but you may not want to apply for another credit card since you are in mortgage mode. CK, for all the heat it takes, can let you monitor information on your TU report even if it won't give you an accurate score. Fact is, I don't know where you can get the TU04 score that your lender is likely using anyway.

Re: Which is better?

Walt_K — Mon, 12 Dec 2011 21:16:49 GMT

Funny that someone would post about it today. Digital Credit Union apparently gives you access to your EQ FICO. http://ficoforums.myfico.com/t5/Credit-Cards/Walmart-FICO-worth-it-just-for-the-score/td-p/1113218

Re: Which is better?

Anonymous — Mon, 12 Dec 2011 21:57:28 GMT

@IOBA wrote:
I think the two I have heard the best things about are myFiCO and USAA credit monitoring services.

Any feedback on those two?

We use the USAA Credit Monitoring Service since its about the least expensive EVERY DAY puller for your credit reports there is. You can literally, pull a new credit report every day of the year. I don't pay any attention to the scores they provide since they are only FAKOs. When we FINALLY generate a FICO score, I want to be able to get the real deal, a true FICO® score and, we'll buy that here on this website.

Re: Which is better?

IOBA — Tue, 13 Dec 2011 01:01:19 GMT

Which one does PSECU pull?

Re: Which is better?

Anonymous — Tue, 13 Dec 2011 17:20:32 GMT

@Anonymous wrote:
It depends upon your needs.

Personally, USAA is fine because I don't need an actual FICO score. Their plus scores are fine for monitoring changes in utilization and when the last 4 late payments fall off my report in August.

I like the idea of Walmart's free TU FICO score but lack the expertise to know if their version is useful. By useful, I mean specifically germane to mortgages or credit cards that aren't Discover.

I feel we all get a little too wrapped-up in the "All non FICO scores are garbage" idea and ignore what we're actually trying to accomplish. Some research and an alternate score would probably serve most situations reasonably well. By now, we know which companies hate high utilization, late payments, BKs, short history, too many inqs, and so on.

Even when ready for a mortgage, I don't really have a way to tri-merge reports. At the very least I'll ask for an Innovis report, LOL!

FICO's needs are simple, to sell scores and protect the value (perceived or real) of it's product.

I think everyone wants the score lenders use to make credit decisions. I'm just doubtful every person's situation calls for it.

Well said,

However, there is always the option of a credit monitoring service that would inform an individual of a recent change that the OP might find useful. I have not really used any so I cannot personally vouch for a specific one

Re: Which is better?

Anonymous — Tue, 13 Dec 2011 17:52:16 GMT

@IOBA wrote:
Thanks...looking for the actual FICO scores (maybe because I have a wrong perception) because the one lender said the two low scores are 692 and gosh darn, if it weren't so low, we could get a much better rate/terms. The one lender said things had to be above 700 and another said above 740. Then there's the lender who said flat out what crappy credit we have to have such a god awful low score! Lol - 692 is not THAT bad! And the other scores are above 700.

PS - that lender refused to let us see the score - said it was illegal to show us the reports or the scores. Not working with him...but I do want to have a good idea of FICO scores (real ones) and to know how things report. I have our free ones received in November 2011.

So...what would be the best one to go with?

I believe your entitled to your score, put at the discretion of the lender but I have never heard of it being illegal to hand it out?!?

Maybe I have been misinformed, but my parents applied for a recent morgate on a new house and the loan officer gave me the credit report of both my parents. He even gave me the score, this might have been due to them not speaking a lick of english

Re: Which is better?

IOBA — Wed, 14 Dec 2011 19:34:04 GMT

I think the law changed and if I am being given different credit terms than someone with better credit than I, the lender is suppose to tell me so and why and show me the credit scores. This one just says nope - can't do that. He verbally told me the scores.

Re: Which is better?

MarineVietVet — Wed, 14 Dec 2011 19:41:06 GMT

@IOBA wrote:
I think the law changed and if I am being given different credit terms than someone with better credit than I, the lender is suppose to tell me so and why and show me the credit scores. This one just says nope - can't do that. He verbally told me the scores.

New credit score disclosures began July 21st, 2011. Regulations require lenders to provide a credit score and related information when they deny a consumer's request for credit or provide credit with less favorable credit terms than other consumers with better credit histories.To read more about this subject go to ScoreInfo.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Which is better?

Booner72 — Thu, 15 Dec 2011 03:05:36 GMT

@IOBA wrote:
Thanks...looking for the actual FICO scores (maybe because I have a wrong perception) because the one lender said the two low scores are 692 and gosh darn, if it weren't so low, we could get a much better rate/terms. The one lender said things had to be above 700 and another said above 740. Then there's the lender who said flat out what crappy credit we have to have such a god awful low score! Lol - 692 is not THAT bad! And the other scores are above 700.

PS - that lender refused to let us see the score - said it was illegal to show us the reports or the scores. Not working with him...but I do want to have a good idea of FICO scores (real ones) and to know how things report. I have our free ones received in November 2011.

So...what would be the best one to go with?

Hey - can't you write a letter to the head honcho of that lender and DEMAND your scores?

Re: Which is better?

IOBA — Fri, 16 Dec 2011 01:25:23 GMT

I can do that. At this point, we are still in a holding pattern for the house.

The loan file has been deactivated - due to the delays in the purchase process.

At this time, I am not going to make a big stink about it. But come time to "re-apply" or re-activate the file, credit will be pulled again and I want to SEE the scores (not be told) and see the credit report.

Meanwhile...any affordable monitoring service that I can buy into that would give real FICO scores monthly?

** I choose my battles. Not always wisely...**