topic Re: Using myFICO to Review Credit Bad? in Rebuilding Your Credit

Using myFICO to Review Credit Bad?

MikeFromKeller — Tue, 25 Jun 2013 14:45:08 GMT

Hello all - I am currently trying to improve my score to secure a mortgage. I have heard that pulling your credit is bad if done too often by specific entities.

Can anyone tell me if using myFICO to pull and review all three bureaus reports as an inquiry and thus considered negative?

I have already had two or three mortgage lenders review my credit about 3 months ago and one as recent as yesterday. We are sittinng at a 620 and are trying to get to 640 quickly. I have recently paid some medical collections that promised (by letter) that the negative credit would be removed from my report... checking to see the status.

Thanks in advance!

Re: Using myFICO to Review Credit Bad?

_John_Doe — Tue, 25 Jun 2013 15:08:13 GMT

If you are checking your own score it wont be a hit. Multiple inquiries by others can and will.

Re: Using myFICO to Review Credit Bad?

Anonymous — Tue, 25 Jun 2013 15:11:53 GMT

@MikeFromKeller wrote:
Hello all - I am currently trying to improve my score to secure a mortgage. I have heard that pulling your credit is bad if done too often by specific entities.

Can anyone tell me if using myFICO to pull and review all three bureaus reports as an inquiry and thus considered negative?

I have already had two or three mortgage lenders review my credit about 3 months ago and one as recent as yesterday. We are sittinng at a 620 and are trying to get to 640 quickly. I have recently paid some medical collections that promised (by letter) that the negative credit would be removed from my report... checking to see the status.

Thanks in advance!

The best place to review your credit reports is through annualcreditreport.com. You get one from each CRA free every 12 months. Those are the most detailed and accurate.

Checking your own reports will not impact your score. All of those mortgage pulls if done, depending on the scoring model used, between 14 and 45 days, only count as 1 by FICO.

Re: Using myFICO to Review Credit Bad?

MikeFromKeller — Tue, 25 Jun 2013 15:17:57 GMT

Thanks – last question… I have a medical collection that won’t PFD. Will a paid in full report a higher score than an unpaid?

Also – if I pay in full, does it reset the 7 year window?

Thanks!

Re: Using myFICO to Review Credit Bad?

Anonymous — Tue, 25 Jun 2013 15:20:20 GMT

A paid collection will not improve your score. They are scored the same by FICO.

No, paying one will not restart the 7 year reporting period. Nothing can legally do that.

Once paid you can send good will letters asking they be removed.

Welcome to the forums.