topic Re: Wasting my Money in General Credit Topics

Wasting my Money

cjane1 — Sat, 28 Feb 2015 01:26:03 GMT

Can someone please suggest the best company to get monthly credit reports and scores. I have been paying Experian, Transunion and also went on Credit Karma . All the scores are different so which one is correct? We are trying to improve our credit to buy a home but are so lost when I comes to our scores.

Thanks,

Re: Wasting my Money

starry1 — Sat, 28 Feb 2015 01:33:02 GMT

All of the sites you mention give fakos not ficos. You need to get the scores on this site. This site doesn't give you monthly reports, but it will keep you up to date on score changes if you get the monitoring service.

Re: Wasting my Money

cjane1 — Sat, 28 Feb 2015 01:58:47 GMT

Thanks so much for the info.

Re: Wasting my Money

NRB525 — Sat, 28 Feb 2015 04:16:13 GMT

For regular FICO scores this site will give you the best source. For Mortgage lending, it is directionally correct; what improves here should also improve your mortgage score.

Recently the range of published types of FICO scoring was increased here, so there may be a mortgage-related score when you get a full credit report. Mine doesn't come up until October, and I'm not shopping for other types of credit so I haven't checked it myself, others have however.

Re: Wasting my Money

Anonymous — Sat, 28 Feb 2015 05:40:01 GMT

i would use credit karma to monitor your reports, find those baddies and get rid of them. 3-4 months before you plan on getting a mortgage, get the new scoring system on here to see where you stand.

Re: Wasting my Money

icebox702 — Sat, 28 Feb 2015 19:12:46 GMT

i agree with everybody as far as scores go. MyFico scores are within +/-3 points from mortgage and auto lenders.

Re: Wasting my Money

Anonymous — Sat, 28 Feb 2015 19:30:50 GMT

you can sign up for Equifax score watch it is a fico score that mortage lenders use and will give you alerts when things change on your creidt report and it is 10.95 a month I hope this helps

Re: Wasting my Money

App_Addict — Sat, 28 Feb 2015 23:27:57 GMT

Experian is NOT a FAKO it is FICO 08

Re: Wasting my Money

Anonymous — Sun, 01 Mar 2015 02:20:30 GMT

@NRB525 wrote:
For regular FICO scores this site will give you the best source. For Mortgage lending, it is directionally correct; what improves here should also improve your mortgage score.
Recently the range of published types of FICO scoring was increased here, so there may be a mortgage-related score when you get a full credit report. Mine doesn't come up until October, and I'm not shopping for other types of credit so I haven't checked it myself, others have however.

There is, indeed. But only for EX and EQ. Not yet available for TU. This is what the new stuff looks like:

Re: Wasting my Money

racer-x — Sun, 01 Mar 2015 13:28:23 GMT

@App_Addict wrote:
Experian is NOT a FAKO it is FICO 08

+1.

Re: Wasting my Money

racer-x — Sun, 01 Mar 2015 13:30:07 GMT

@Anonymous wrote:
@NRB525 wrote:
For regular FICO scores this site will give you the best source. For Mortgage lending, it is directionally correct; what improves here should also improve your mortgage score.
Recently the range of published types of FICO scoring was increased here, so there may be a mortgage-related score when you get a full credit report. Mine doesn't come up until October, and I'm not shopping for other types of credit so I haven't checked it myself, others have however.
There is, indeed. But only for EX and EQ. Not yet available for TU. This is what the new stuff looks like:

Nice seeing all those 7's. I hate looking at mine and seeing low 7's and high 6's...I want all 7's. lol.

Re: Wasting my Money

cjane1 — Mon, 02 Mar 2015 02:28:31 GMT

I pulled my credit score from the Experian website and is almost 100 points higher than Transunion and Equifax on CreditKarma,all the scores were updated on the same day. So I am guessing just cancel membership on experian website, only use CreditKarma for credit report and sign up with the myfico for 24.95 a month for score watch?

Re: Wasting my Money

tonyjones — Mon, 02 Mar 2015 02:44:49 GMT

If you don't want to pay for scores, get a Citibank card for EX FICO scores, Barclay/Walmart for TU FICO scores.

Re: Wasting my Money

takeshi74 — Mon, 02 Mar 2015 13:38:35 GMT

@cjane1 wrote:
Can someone please suggest the best company to get monthly credit reports and scores. I have been paying Experian, Transunion and also went on Credit Karma . All the scores are different so which one is correct? We are trying to improve our credit to buy a home but are so lost when I comes to our scores.

Define "best". What are you specifically looking for?

If buying a home is the main criterion then it's hard to beat myFICO. They now offer a couple of scores used by some mortgage lenders. See also:

http://www.fico.com/en/02-02-2015-fico-makes-additional-fico-score-versions-available-to-consumers-for-the-first-time

@cjane1 wrote:
All the scores are different so which one is correct?

There is no one "correct" score. Different creditors use different scores. It's a matter of what's relevant which is whatever CRA and scoring model the creditor you're applying to uses.