topic Re: Why such a big difference??? in General Credit Topics

Why such a big difference???

Anonymous — Fri, 29 Jun 2007 03:01:40 GMT

All,
Like many others on here, I am new to the credit scoring game. I have several questions...

First and foremost I have a pretty large difference in my different credit scores:
Experian (which is my lowest score and has not moved in nearly a year) - 599
Equifax - 638
Transunion - 659

In my eyes, that's a pretty big swing. Now to answer a couples of questions. I have three old collections that I have recently (3 weeks ago) paid off in full. I really wish I wouldve known about the PFD, but two of the CA's have said that they will delete from my report. I am trying to talk to the third at the moment. The total of the debt is around $1200. I am especially frustrated about my Ex score, because it hasn't moved in over a year, even though during that time I have taken out an auto loan and Citifinancial has reported every month that the bill has been paid on time (I actually have overpaid my payment by about 15%). Yet for that, my Ex score hasn't changed.

Also, I don't have any current credit cards, primarily because I really don't have an expensive lifestyle. Generally, if I want something, I'll save up for it and pay for it myself.

I would like to buy a home in the next few months, but I really don't want to get stuck with a bad mortgage. Does anyone have any recommendations on what I should do?? I know that my score would take a short term hit if I were to open a new CC, and I plan on opening up an account in the near future (hopefully after the mortgage). What does everyone think of my options, and how much of a jump will I see from paying off (and hopefully deleting) my old collections (all the collections were from 4-5 years ago)?

Re: Why such a big difference???

Anonymous — Fri, 29 Jun 2007 13:37:19 GMT

I just wanted to bump this back up to get someone's response.

Re: Why such a big difference???

MidnightVoice — Fri, 29 Jun 2007 13:51:20 GMT

In terms of differences between reports, the swing for me is nearly 100 points from top to bottom. EX hates me, TU loves me. My EX score has gone down 10 points in the last 6 months, my other two have gone up an average of nearly 90 points.

And for a mortgage, they are most likely to use the middle score

Not having any credit cards is also probably hurting your score. The FICO machine likes to see responsible use of credit.

If the collections are deleted you can expoect a good bump.

Re: Why such a big difference???

Anonymous — Fri, 29 Jun 2007 13:56:03 GMT

Thanks, I'm hoping so...

Just hard to be patient about it...

I have never been good at waiting, especially for something that I have so little control over.

Re: Why such a big difference???

MidnightVoice — Fri, 29 Jun 2007 14:04:37 GMT

Time can help both bad credit and hangovers

Paitience is required, I am afraid

Why such a big difference???-Update

Anonymous — Fri, 29 Jun 2007 16:49:49 GMT

Just wanted to give a quick update... I talked to the third company and asked about deleting the item from my CR. She told me that it was against their company policy to do so... I REALLY wish I would have found this website before I cleared up that debt. I know I will get a score boost for paying off the debt, but I want that albatross off my neck. Oh well, maybe I'll call Clark Howard and see what he thinks I can do.

The really crummy thing about that collection is the fact that I never knew about the bill, I moved out of a house and I thought my roommates (co-workers, even) were continuing to pay the bill.

Does anybody think a GW letter would maybe make them feel guilty enough to take it off???

Also the date of last active is from October 2002... I guess I'll see it for another year or so...

Re: Why such a big difference???-Update

Tuscani — Fri, 29 Jun 2007 19:33:45 GMT

bdog94tiger01 wrote:

Just wanted to give a quick update... I talked to the third company and asked about deleting the item from my CR. She told me that it was against their company policy to do so... I REALLY wish I would have found this website before I cleared up that debt. I know I will get a score boost for paying off the debt, but I want that albatross off my neck. Oh well, maybe I'll call Clark Howard and see what he thinks I can do.

The really crummy thing about that collection is the fact that I never knew about the bill, I moved out of a house and I thought my roommates (co-workers, even) were continuing to pay the bill.

Does anybody think a GW letter would maybe make them feel guilty enough to take it off???

Also the date of last active is from October 2002... I guess I'll see it for another year or so...

Doesn't hurt to try GW.

Re: Why such a big difference???

Anonymous — Sat, 30 Jun 2007 00:08:18 GMT

I think I've got you beat!

What would account for the following differences?

T/U 644

Equifax 725

Experian 582

We're talking crazy difference? I would appreciate some more input as well!

Re: Why such a big difference???

Tuscani — Sat, 30 Jun 2007 04:09:18 GMT

munchkin wrote:

I think I've got you beat!

What would account for the following differences?

T/U 644

Equifax 725

Experian 582

We're talking crazy difference? I would appreciate some more input as well!

WOW! Are these all FICOs?

Re: Why such a big difference???

Anonymous — Sat, 30 Jun 2007 13:47:44 GMT

Yes! These are FICOs obtained on 6/29/07. Very strange, huh?

Re: Why such a big difference???

Tuscani — Sat, 30 Jun 2007 18:15:55 GMT

munchkin wrote:

Yes! These are FICOs obtained on 6/29/07. Very strange, huh?

Well, not if your EQ report is free of baddies.