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Credit Score Question!? @.@

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Credit Score Question!? @.@

Ohkay so Im confused about my credit score

 

Let me fill you in on some background info first

 

I have 2 Accounts open,

 

The First is ELAN FINANCIAL but the balance is at 0 with A 400 Limit but the Account is "closed" but it is still reported on my credit and i opened it in 2008

And in 2009 I was once 60 Days late.

 

The Second is a CAP ONE Secured Visa I reciveved IN February 2011 and I never go above 75 Dollars on it and pay it in FULL every month

 

also i have 5 "hard Pulls" on my history  2 From DEC 2010 and 3 from Feb 2011

 

now ive been using my CAP ONE since february and Today i looked at my Credit Score on CREDIT INFORM which is offered by CAP ONE and it showed that my Credit score moved from 666 to 667 in the last 3 months.. WHY only 1 Point!?

 

So im curious why i only jumped 1 point.

 

(i havent checked FICO scores yet due to not having the money to buy the reports yet)

 

 

 

Message 1 of 4
3 REPLIES 3
Super Contributor

Re: Credit Score Question!? @.@

You are stuck in a category with people who has the same credit file. If those with the same credit file as you scores are not moving yours won't either.   Your scores  won't rise signficantly until you add more accounts and  show that you can handle more credit.  When you do that, you jump into a different category of people with similar profiles.  If those people credit are moving up who has the same credit picture, your score will rise too.    It's complicated. 

Message 2 of 4
Moderator Emeritus

Re: Credit Score Question!? @.@


@Coconutlimelatte wrote:

Ohkay so Im confused about my credit score

 

Let me fill you in on some background info first

 

I have 2 Accounts open,

 

The First is ELAN FINANCIAL but the balance is at 0 with A 400 Limit but the Account is "closed" but it is still reported on my credit and i opened it in 2008

And in 2009 I was once 60 Days late.

 

The Second is a CAP ONE Secured Visa I reciveved IN February 2011 and I never go above 75 Dollars on it and pay it in FULL every month

 

also i have 5 "hard Pulls" on my history  2 From DEC 2010 and 3 from Feb 2011

 

now ive been using my CAP ONE since february and Today i looked at my Credit Score on CREDIT INFORM which is offered by CAP ONE and it showed that my Credit score moved from 666 to 667 in the last 3 months.. WHY only 1 Point!?

 

So im curious why i only jumped 1 point.

 

(i havent checked FICO scores yet due to not having the money to buy the reports yet)

 

 

 


The scores you get from Credit Inform are not FICO scores (as I believe you may already know) so any movement up or down cannot be relied on. In fact your FICO scores could be much higher or lower that the non-FICO (FAKO) scores you have access to now.

 

Until you are able to buy your FICO it's really impossible to know where you stand score wise. I suggest as soon as you can that you get at least one of your scores here.

 

 

 

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".

Message 3 of 4
Frequent Contributor

Re: Credit Score Question!? @.@

Agree with the above. Those scores are utterly useless. Previously, I thought I could at least gauge my progress with those scores, but you really can't. The scoring algorithms they use are nothing like what FICO uses. They're useless. CMS's are only good for monitoring your report changes. Buy your real FICO score.


BTW, I just signed up at M&T Bank, and they provide a monthly Equifax FICO score for $2.99/mo. If you're tight budgeted, that's a nice choice. Digital Credit Union also offers EQ score for free, but there's hoops to jump through to get in. I don't mind paying $2.99/mo. I feel like they're less likely to take it away from me if I'm paying for it.


Starting Score: 596 EQ 5-22-11 / 554 TU 5-23-11
Current Score: 615 EQ 08-15-11 / 631 TU 09-27-11
Goal Score: 700+


Take the FICO Fitness Challenge
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