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Hey Barry!!!

Brammy
Moderator Emeritus

Re: Hey Brammy....



MercyMe wrote:
Questions, questions ...  what would constitute a good plus score?  BOA approved my app for a Visa using Experian's plus score.  BOA's inquiries haven't shown up on my TU or Equifax reports.  Just curious.  And if you would be so kind as to give us some insight into the differences between the Fico and the Plus?  Thanks.


 
Are you sure they were using the plus score or where they using a bankcard FICO based on information in your experian file?  I found that my FICO and my Plus score are in the same neighbohood.

Message 21 of 26
DionLawOffice
New Contributor

Re: Hey Brammy....

I could be wrong - but I believe that even when a creditor looks at the actual credit report (trade line history) with one of the three major bureaus they still use a FICO based score from a different system, not the non-FICO score offered by the bureau itself.  If anyone works in banking and knows otherwise some insight would be great.
Message 22 of 26
MercyMe
Frequent Contributor

Re: Hey Brammy....

Thank God I didn't sign up for PrivacyAssist then.  I might have become a depressed person. Until recently, but not anymore as all scores have dropped big time, my Experian was always my highest score, due for the most part because most creditors (it would seem) pull Equifax and report to the same, so I'm considering cancelling all subscriptions to TU and Ex, pulling them twice a year rather than monitorring monthly, and focusing on Equfiax.  Having watched it for a couple of years now, it just seems that if your Equifax scores are climbing, there's a good chance they all are.  My only interest in Experian would be for their Vantage score, should that catch on, and were I to have to apply for credit with BOA, and to maintain what limited credit I have with them.  TUs my high score now (MyFico pull) as there's nothing there but a 3+ year paid charge off that keeps updating and showing current activity, and 5 good accounts, but it's still under 625....  balances to credit limit ratios, too many newly opened credit accounts (ie: Target, around Christmas), charge off account, etc.
 
I have to say to that I recently signed up for Credit Sync and what a wonder it is!  All three credit reports and the ability to dispute all in one place, without the wonder of what to say in a dispute letter.  That makes it easier, for sure.  Thank you, Equifax!  Though you can keep Suze.  She's sometimes too way out there, for me. 
 
Good luck, NewWorldMan, graduating your BOA.  You've got your foot in the door.  Now it's just a matter of time, huh? 
Message 23 of 26
MercyMe
Frequent Contributor

Re: Hey Brammy....

I don't know if this helps any but, having been hit by a number of hurricanes over the past couple of years, I had to refinance  the house to make repairs that insurance -- due to high deductables -- just didn't cover.  In the process I worked with a number of brokers who all asked the same question,  "What's your FICO score."  Or, "Your Fico score is..."  It was never TU's score, nor Experian's, which didn't make me happy because EXP was my highest score.  It was always Equifax,  and that was usually the lowest; and too, it was always suggested that I pull my Fico from Equifax.
 
Have a happy!
 
Message 24 of 26
HouseHunter
Frequent Contributor

Re: Hey Brammy....

Everything I read says lenders always go by the middle score for a mortgage.  My bank told me that the closer to 720 I got the better off I would be when I tried to get a mortgage and if I wanted to go through them, he said to pay particular attention to my Equifax score since they use this score in making their determinations.  So, I am a bit confused.  If it's standard to use the middle score then why does my bank deviate from that?  If my bank does its own thing then what's to say others don't as well?
Message 25 of 26
Brammy
Moderator Emeritus

Re: Hey Brammy....

Depending on your area, banks may give more weight to your local bureau. I have an additional ten years of history and several good accounts that have only been reported to Equifax, even a paid off 10k student loan. Most of the installment loans I have had only reported to Equifax so if my bank is looking for history, I would much prefer them give more credence to EQ in my situation
Message 26 of 26
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