New True Credit Customer...Depressed

[Anonymous]

I know that TC doesn't use actual FICOs, but if the scores they are reporting are even close to correct, my scores have plummeted in 30 days for two of the bureaus. Equifax, of all things, is UP 40 points. TU deleted a very recent judgment against me...and my score fell 60 points. Experian, which was my highest at 680 has dropped to 510! I do have 2 new inquiries on Experian. Can that really drop my score that much?

Bleh. Vomit. Puke.

Do you guys notice that the scores are pretty close to the FICOs, or are they really different, in your experience? I know I should just be using them for watching the trend, but this is making me want to repull my FICOS for 47 bucks to see what is happening!

[Anonymous]

WOW...that Experian score drop does not seem right...especially if all that changed was 2 inquiries. Hope someone can chime in here and give some info!!! That is crazy!!!! I've had way more than two inquiries, and I took a very small hit.

[Anonymous]

My scores are different.  FICO always seems to be higher for me with TU, up to 32 points in fact. However, some of my fako scores are better than my FICO.  I have learned a great lesson by experience and this forum, which is to take your FAKO scores with a grain of salt.  Use those reports for informational purposes to make corrections but the score is virtually worthless.

Good luck, and try not to be depressed.  Trudge ahead and know that FICO scores are ever changing and will improve with time and effort

[Anonymous]

Flygirl---- How did your AMEX F/R work out, I lost track of that whole situation?

[Anonymous]

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Jamesus81801 wrote:

Flygirl---- How did your AMEX F/R work out, I lost track of that whole situation?

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Well...I decided to see what the outcome would be, so I did not cancel....yet. As of today, I am still undergoing the F/R......after long, thoughtful consideration, I figured keeping them open would help my utilization. I have since gotten two other cards with nice limits, so I am really not studying Amex anymore. Just rest assure that when they do "unfreeze" them, they will not see the light of day to much. Maybe for an occasional hotel reservation when I go out of town and a pack of bubble gum or something!!! LOL  I heard yesterday that there was a journalist for SmartMoney magazine writing an article about American Express Financial Reviews....she was getting input from folks that have experienced this. Article comes out Thursday. Should be interesting!!! Thanks for asking....

[Anonymous]

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flygirl wrote:

Well...I decided to see what the outcome would be, so I did not cancel....yet. As of today, I am still undergoing the F/R......after long, thoughtful consideration, I figured keeping them open would help my utilization. I have since gotten two other cards with nice limits, so I am really not studying Amex anymore. Just rest assure that when they do "unfreeze" them, they will not see the light of day to much. Maybe for an occasional hotel reservation when I go out of town and a pack of bubble gum or something!!! LOL  I heard yesterday that there was a journalist for SmartMoney magazine writing an article about American Express Financial Reviews....she was getting input from folks that have experienced this. Article comes out Thursday. Should be interesting!!! Thanks for asking....

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Flygirl,

When the article does come out, be sure to post it in the "credit in the news" forum......I think it would be of benefit.

-trini

BTW - My apologies to StartingFresh for infiltrating your thread......sorry!

Message Edited by trinigal on 07-25-2007 09:45 AM

[Anonymous]

I also apologize for getting off subject, as for your situation StartingFresh, how long have your Fako's reflected such a dramatic decrease, is this a one time occurence or have they been showing this way for an extended period of time?

[Anonymous]

Don't apologize...I was actually curious too and was tempted to hijack my own thread by chiming in with that question!

I probably overreacted. Today is the first day that I have pulled the FAKOs...I just got whatever the credit equivalent to "sticker shock" is...they were so out of line with the FICOs.

[Anonymous]

Yeah Fako's are an interesting beast... I've read many threads that state the same thing as you, that they are very far off from their Fico's, sometimes higher...sometimes lower.  Mine happen to be pretty darn close to my Fico's... So I wouldn't let this one time really get under your collar, keep an eye on them and see if they rebound, and then just focus on cleaning up your reports if there are any discrepancies that can be disputed or GW'd.  Check your Fico's periodically and you should be okay...

[Anonymous]

DH's facos haven't caught up with FICO at this point.  FAKO Ex still reporting in the mid 5's when the FICO has it at 644...go figure.