Get your Fico Credit Score for free when you pre-qual at Lending Tree

[Anonymous]

So, I went to Lending Tree (Not endorsing)  to pre-qual for a $15k personal loan after pulling my Ficos from Experian Credit Works. I’ve never had an auto loan and installment loan and I am thinking of adding a personal loan to my credit profile, had to input income as well.

Best Egg gave me a denial with explanations of why and my credit score of 818, which matched with Experian Credit Works

Prosper did the same (denied), but I was surprised that my Transunion score was 802 vs the Experian Credit Works at 790.

I was also denied by E-loan, which is a division of Banco Popular de Puerto Rico. I laughed at this one since Puerto Rico bankrupted themselves, but they also gave a Transunion score of 802.

I was pre-qualified by Sofi and they push you into the process right away, but I didn’t go through with it. Rates are 5.99% to 14.59% and they quoted me 9.5%

So, this one way to get a Fico score, pretty sure you can do this every month, but I wouldn’t.

[DaveInAZ]

Interesting, but a TU Fico 8 score is the one I get most often from credit cards, 4 or 5 CCs give it to me monthly. And I sure as heck don't need any more personal loan offers, CK pushes half a dozen to me and I get offers regularly by mailers. I do carry several thousand in CC balances, 13% util on just over $150k in CLs, but it's all 0% between intro rates, BTs and PIF monthly usage and I have the funds to pay them off when needed so I'm not interested in a loan at 15% to pay them off earlier then needed. That's the 'weakness' of the credit monitoring services - they know the revolving balances you carry but they don't know if it's 0% or a 29.99% Credit One special, and they seem to assume the latter.

[Anonymous]

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@DaveInAZ wrote:

Interesting, but a TU Fico 8 score is the one I get most often from credit cards, 4 or 5 CCs give it to me monthly. And I sure as heck don't need any more personal loan offers, CK pushes half a dozen to me and I get offers regularly by mailers. I do carry several thousand in CC balances, 13% util on just over $150k in CLs, but it's all 0% between intro rates, BTs and PIF monthly usage and I have the funds to pay them off when needed so I'm not interested in a loan at 15% to pay them off earlier then needed. That's the 'weakness' of the credit monitoring services - they know the revolving balances you carry but they don't know if it's 0% or a 29.99% Credit One special, and they seem to assume the latter.

Yes I get that but if you want reasons why you get denied if you do or even if you pre-qualify,its interesting to check. I dont get a FICO TU for free and this is one placed that showed me my score and how differed from Experian Credit Works.

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[DaveInAZ]

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@Anonymous wrote:

Yes I get that but if you want reasons why you get denied if you do or even if you pre-qualify,its interesting to check. I dont get a FICO TU for free and this is one placed that showed me my score and how differed from Experian Credit Works.

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Well, it would have been more informative if you had provided the reasons why you were denied for by Best Egg, Prosper & e-loan, because with TU Fico around 800 it's kinda surprising you were denied - I got a Prosper $5k loan back in 2013 or 2014 when my Fico was only around 670. And which one is Web Bank - Sofi or Lending Tree?

And I kind of remember a TU negative factor of "no installment loans" before I got a car loan in 2015, but I definitely remember the TU negative of "too many consumer finance loans!" when I had the one Prosper loan. If you want an installment loan to round out your credit profile maybe try one of those secured loans secure by savings, or spring for a new set of wheels? Or if you really want to do a personal loan do one with a credit union or bank, those count as a "true" installment loan, a personal loan from the companies you tried are usually considered negatively as a "consumer finance loan" because that's pretty much all they do.

[Anonymous]

@DaveInAz Well they did tell me why the denied me, if you see photos. I have 1 cap1 card that I have had for 4.5 years and Im a AU on a Discover card that is 12 years old.  Yeah I kind of guess that these companies would base it off prevoius history of an installment loan, I dont need a auto loan, but I could use a personal loan. 

800+ scores across the 3 mean nothing when I have a thin file....Also seeing that the old skool saying, the higher the fico the lower the apr" doesnt ring true these days....Creditors want that interest