topic Re: I know this has been discussed before, but I will ask aga... in General Credit Topics

I know this has been discussed before, but I will ask aga...

Anonymous — Mon, 02 Jul 2007 15:04:03 GMT

I know this has been discussed before, but I will ask again. From your expreience, how far behind reporting a change is myfico? I showed a deletion of an obsolete account through TC, but nothing from myfico yet. Another question I have is this. Are the score increases on TC proportional to the real score increases? In other words, last week TC showed EQ score as 537. Myfico showed EQ as 602. Today, TC shows increase of 22 points. Will my myfico score now be around 689? Or is there simply no rhyme or reason?

Re: I know this has been discussed before, but I will ask aga...

Tuscani — Mon, 02 Jul 2007 15:05:56 GMT

Assuming TC shows it gone, an updated MyFICO report (which you have to buy) should also.

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Mon, 02 Jul 2007 15:16:08 GMT

I'm new to the myfico thing, but won't the scorewatch indicate a change? Myfico says I have one power report left, but I don't want to get it until the scorewatch shows change.

Re: I know this has been discussed before, but I will ask aga...

Tuscani — Mon, 02 Jul 2007 15:18:31 GMT

Yes, but it can take several days before you get the notification. That does not mean you can't pull an updated report now.

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Mon, 02 Jul 2007 15:21:36 GMT

OK, thanks!

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Mon, 02 Jul 2007 16:01:04 GMT

Ok, I think I answered my own question. When I pulled a new power report, my score shows 631. So, I got a 29 point increase when a CO aged off. Not quite as good as what the TC score shows...lol. Now, we went car shopping last night and I see 4 new inquiries for banks. Do they count as one? It really pisses me off that the dealership pulled AND THEN let the banks pull as well. But, I guess that's the way it goes.

Re: I know this has been discussed before, but I will ask aga...

Tuscani — Tue, 03 Jul 2007 00:32:17 GMT

daytona18 wrote:

Ok, I think I answered my own question. When I pulled a new power report, my score shows 631. So, I got a 29 point increase when a CO aged off. Not quite as good as what the TC score shows...lol. Now, we went car shopping last night and I see 4 new inquiries for banks. Do they count as one? It really pisses me off that the dealership pulled AND THEN let the banks pull as well. But, I guess that's the way it goes.

Congrats on the increase. Yep.. FICO only hits you for one. Some delaerships will pull your report once and than shop you around by faxing your reports around to save you getting so many Inqs.

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Tue, 03 Jul 2007 02:49:38 GMT

Thanks for the congrats. I thought I was doing rather well until I got a call from the dealer. I got my new vehicle with payments that I can't complain about, but they raped me on interest at 12.99%. I was sure my credit scores were much better than when I bought my last car. I did have a ton of lates on that account though. Do they look at those? Or are most auto laons score driven?

Re: I know this has been discussed before, but I will ask aga...

Tuscani — Tue, 03 Jul 2007 02:54:07 GMT

Yes the lates matter. Most auto lenders use Auto-Enhanced FICO score (see Scoring 101 thread). If you have lates on auto TLs, your scores are going to be lower than what you see on MyFICO. I would be happy with that rate.

PS.. Have you tried GW on the lates?

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Tue, 03 Jul 2007 03:02:33 GMT

You would be happy with that rate? Geez. I got really affordable payments which is what mattered the most to me. I need to be able to manage the payment, I really didn't care about the rate...until I saw it on paper. A two digit interest rate just freaked me out. But, you are the master, and I trust. LOL.

Re: I know this has been discussed before, but I will ask aga...

Tuscani — Tue, 03 Jul 2007 14:16:56 GMT

Let me rephrase.. "I would be happy with that rate if I were you".

Re: I know this has been discussed before, but I will ask aga...

Anonymous — Tue, 03 Jul 2007 20:36:42 GMT

Ok, that sounds better. The girls at work don't think it's that horrible either. My payment is so low that I think I can double payments after I get done with a couple of other bills. That's the plan anyway....