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EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

chrissienurse2007
New Visitor

EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

MY HUSBAND AND I PAID FOR CREDIT MONITORING WITH SEVERAL COMPANIES, AND TO OUR ASTONISHMENT, THEY WERE GIVING US A SCORE AT LEAST 100 POINTS HIGHER THAN IT TRULY WAS. WE HAVE BOTH FILED BANKRUPTCY YEARS AGO, AND ARE WORKING ON RAISING OUR SCORES. AT ONE POINT, WHEN WE THOUGHT THE SCORES WERE HIGHER, WE APPLIED FOR A MORTGAGE. THE MORTGAGE COMPANY SENT US A COPY OF OUR REPORT. WHAT A SHOCK AND SURPRISE, WHEN WE FOUND OUT THE REAL SCORES!!! APPROX. 70-100 POINTS LOWER. THE ONLY TRUE SCORES YOU CAN COUNT ON ARE ACTUAL FICO SCORES!!!! TRUST ME. DON'T PAY FOR THESE OTHER SITES THAT OFFER MONITORING. NOT ACCURATE AND NOT CORRECT. SINCE I STARTED WITH MYFICO, BOTH OF OUR SCORES HAPPILY, AND ALOT OF HARD WORK HAVE GONE UP 70 POINTS IN THE LAST 6 MONTHS. FICO HAS THE TRUE SCORES THAT COMPANIES GO BY. CARS, AND REAL ESTATE ARE THE BIG ONES!!!THE MORTGAGE COMPANY SAID THEY GET A TOTALLY DIFFERENT SCORE THAN THE CREDIT MONITORING COMPANIES OTHER THAN FICO. ANYWAY, JUST WANTED TO SHARE!!! THANKS
Message 1 of 7
6 REPLIES 6
bustertriscuit
New Visitor

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

This is true, but it still is a valuable resource to monitor your reports. These services will still report changes to your reports and you can still view the history of whatever it is that's on your reports. The scores that they use many people call "facos". They are usually waaaay off from a true fico (which I don't believe you should have to pay to get!!). The scores they give you along with the service are just a little perk and only give you a VERY general idea of where you stand.
Message 2 of 7
FreeRateSearch
New Member

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

You can monitor your reports with a myFICO deluxe kit and have REAL scores, while monitoring your credit report. So, why would you buy something else?
 
The "vantage" score model is worthless, in my opinion, I agree with the thread starter.
Message 3 of 7
Brammy
Moderator Emeritus

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

You cannot minotir activity on all three bureaus with any regularity on any product from myfico or equifax with the cost being exhorbitant, though they are working on it.  I have TC as well as scorewatch and am waiting on some info to update on TU I can pull it daily until satisfied and pay it off.  For real FICO score I do myfico updates only but at 47.00+ a pop for three, that would be exhorbitant for any frequent monitoring
Message 4 of 7
FreeRateSearch
New Member

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

yes, thank you for the additional info. You might want to buy the fico product, then in about 3 or 4 months, get your free credit report (no scores, of course) from Experian, then in another few months, get one from Equifax, then Trans Union. Is that do-able?
Message 5 of 7
Brammy
Moderator Emeritus

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

The only use of the True credit score is to have a general Idea of what direction your credit is taking, for that it servces its purpose.  I  ddo agree however that the scores are not the ones you should depend on to make any credit decisons.  I find the True credit model was very useful when rebuilding credit.  I was able to guage exactly when I needed to apply if seeking new credit to get the best rates and lines.
 
 
Message 6 of 7
karenkkj
New Member

Re: EVERYONE PAY ATTENTION PLEASE!!!!! YOU WILL BE HAPPY YOU DID

I had the same experiance.  I signed up for all 3 free score watch programs.  When I got my credit report from my Lender, ONLY my MYFICO  score matched my credit report.  The other two were different then my true credit report scores. 
 
example:  My credit report:                  
MyFico score watch:   695                              Equifax on Credit Report:  695
TU scorewatch:           664                              TU on Credit Report:         701
Freecreditreport.com: 680                               Experian on CR:               673  
 
Karen
Loan Officer in UT
Message 7 of 7
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