Can someone explain where lenders actually get their information?

[Supremespre]

Becuase it definately is not from any of the 3 reports.

Here is an example. I filled out a credit app for a 4,000 dollar trailor, was denied.

here is the reasoning.

Lien, Judgement, major derogatory

to many inquiries

and the best one "No real estate accounts"  I own my home, I have nmo need for a mortgage! I will never leverage my house EVER, becuase if anything ever happens I will be screwed!

- Transunion

I have no liens, No Judgements, and NO derogatories

My last late payment was in may 2021(covid yay)

No charge offs, everything since may 2021 has been paid on time.

inquires may be a thing, and that is on planet power sports, i did my research on the lenders they used, and told them which one to use(and thats the one that approved me) yet they still submitted it to 12 lenders..

I have spent years rebuilding my credit after my BK in 2015(no longer on TU since january this year)

and the derogatory one shows up everywhere, but like i said, I have none..

especially becuase as long as I continue to pay on time, and with the new cycle loan i expect to be near 700 by years end

Snippet of my credit..

EQ:  open a few cards and a few loans Fico 613

• 1 Credit line 3500 limit 1300 used
• 1 Credit card 1150 limit on EQ it only reports around 150 used as i use it to pay bills, and every 2 weeks i send 400.00 to it so upon reporting day it reports low balance,
• 1st Loan One Main $10,000 Opened may 2023 no late payments down to $8200(interest yikes)(266/mo)
• Cycle Loan Just reported(but was not reporting when these denials came through) $11,500 Honor Credit Union(308/mo)

Closed:

• Upstart $500 Opened june 23 paid off oct 23
• One Main 3500 Opened May 21 Paid Off May 23
• Credit acceptance $5900 opened august 2015 Paid off oct 2018(this was one of my late payments in may 2021)
• Credit Acceptance(high interest but I like them) 8900 opened Oct 2018 paid off april 2022)
• Harley Davidson FInancial $9900 opened 2010 paid off 2014(and yes still reporting)

Collections on EQ - 143.00 Esurance, they billed me several times after I cancelled them and went to geico

My 2015 BK is still on EQ until January this year, I didn't get lucky with them like i did TU =/

TU:  open a few cards and a few loans Fico 636 - almost the same as EQ but a few Major differences

• 1 Credit line 3500 limit 1300 used
• 1 Credit card 1150 limit on EQ it only reports around 150 used as i use it to pay bills, and every 2 weeks i send 400.00 to it so upon reporting day it reports low balance,
• 1st Loan One Main $10,000 Opened may 2023 no late payments down to $8200(interest yikes)(266/mo)
• 2nd Loan Rise(I know don't yell at me just got it to improve my installment loans) $900 opened May 2024 Down to $504(130/mo but i pay more)
• Cycle Loan Just reported(but was not reporting when these denials came through) $11,500 Honor Credit Union(308/mo)

Closed:

• Upstart $500 Opened june 23 paid off oct 23
• One Main 3500 Opened May 21 Paid Off May 23
• Credit acceptance $5900 opened august 2015 Paid off oct 2018(this was one of my late payments in may 2021)
• Credit Acceptance(high interest but I like them) 8900 opened Oct 2018 paid off april 2022)

Collections - NONE

Judgements - NONE BK was removed Jan 2024

EX:  open a few cards and a few loans Fico 655

• 1 Credit line 3500 limit 1300 used
• 1 Credit card 1150 limit on EQ it only reports around 150 used as i use it to pay bills, and every 2 weeks i send 400.00 to it so upon reporting day it reports low balance,
• 1st Loan One Main $10,000 Opened may 2023 no late payments down to $8200(interest yikes)(266/mo)
• 2nd Loan Rise(I know don't yell at me just got it to improve my installment loans) $900 opened May 2024 Down to $504(130/mo but i pay more)
• Cycle Loan Just reported(but was not reporting when these denials came through) $11,500 Honor Credit Union(308/mo)
• Affirm, Barely reports, I have 6 affirm loans, 4 paid off they only report the first one nothing else, and only becuase the Merchants I delt with only offered affirm...

Closed:

• Upstart $500 Opened june 23 paid off oct 23
• One Main 3500 Opened May 21 Paid Off May 23
• Credit acceptance $5900 opened august 2015 Paid off oct 2018(this was one of my late payments in may 2021)
• Credit Acceptance(high interest but I like them) 8900 opened Oct 2018 paid off april 2022)

Collections - NONE

Judgements - BK still reporting

Credit age on all 5+ years

Inquiries - None on EQ, 13 on EX and TU 12 being from planet powersports

[CreditCuriosity]

Many 3rd party data brokers. Most of ones listed aren't even third party either anymore and used by many FI's.  Don't forget much is public informations as well such as BK's etc.   If you don't have any going to have to request the main reports some of listed below and see if they show any such thing you speak of then dispute them

1)Lexis Nexus

2)Sage Stream

3)Innovis

4)Chexs 

5)EWS

6)etc, etc, etc, etc.

[FlaDude]

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@Supremespre wrote:

I have no liens, No Judgements, and NO derogatories

My last late payment was in may 2021(covid yay)

No charge offs, everything since may 2021 has been paid on time.

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Can you clarify if you actually had a late payment of 30 days or more reported in May 2021? If so, that is absolutely a derogatory and will typically be reported and impact your score for 7 years.

[FicoMike0]

Long post. One place they get info is their own records. If you Ever burned them, some banks never forget, even after it falls off your reports.

[Supremespre]

All those were clear.

Clarity on the other hand was destroyed. filed disputes last tuesday now they are all gone withj just 3 good standing never late accounts.

[Supremespre]

Late payments stay on for 7 years, but the effects of them lessen as time goes on. most lenders only look at the previous 24 months of payments.

but it clearly says RECENT, there is no recent

[Supremespre]

Definitely not burned. it was One Main looking to refinance me.

I have currently an open one main loan of 9500 that has been paid on time every month since may 2023 @ 266/mo never late ever

and a closed one main account paid off in may 2023(when they talked me into another one) that was 3500.00 opened in april 2021 at 118/mo for 5 years(paid it off early) never late.