Quick question.......I'm new at this.

[memevertical]

Well, she's had a Paypal credit account for around 3 years......do you think her adding me to that one would help?

[memevertical]

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@Anonymous wrote:

The numbers are necessarily fake. They are based on some scoring algorithm however it is not the one used by lenders so for all practical purposes yes they are fake. I use score watch. I signed up for a 1 year membership. When you do they give you a full copy of your Equifax report complete with your actual FICO score. This report is great. It gives you all of the good and the bad about your report. It gives all accounts and current info for them. The report tells you what you need to do to increase your score. It then gives you 1 more score power report to use whenever you want to. Then it has a settings area. You go into settings and pick which alerts you want to receive. I get alerts when I get new inquiries, new accounts post, balances change on accounts, when my score changes etc. Now when you get an alert on an account it only shows the info for that account. You dont get a new report just an account update. But you can always go back and look at the first report you pulled for reference. If your score changes and you have it set right it will tell you when your score changes and what factors contributed to that score change. Once you subscribe it also gives you the option to buy Transunion and Equifax score power reports whenever you want but it only monitors EQ. I love the service. If you decide to use it you need to make sure under the settings tab you do the score setting correctly.

It will say something like Alert me whenever my score reaches xxx? It will have a box you put in the score you want to be alerted to. For example if you had a 609 and wanted to know when it gets to 620 just enter 620. You will ONLY get the score change alert if you go over 620. Howver if you have the 609 and put in the score 609. It will notify you if your score moves from the 609 whether it is up or down. That is how I set mine. When I get a score change alert I go in and change it to my current score. That way I know anytime it changes. Again this is personal preference. This service has worked well for me. The combination of that service and the great help from this site has helped me change my score dramatically.

Good Luck

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I checked Score watch, and it only works for Equifax.......should knowing only my Equifax be enough? Is it better to know also TransUnion? Is there a service that gives you those 2 scores?

[b_baremore]

You said that the lenders can go back and look at the entire credit file.  What do you mean by this they can go beyond that what is being reported in a CR. I have always wondered if there is someone or something out there that keeps tabs on everyones credit files from the start of life.

Thanks Before hand,

[guiness56]

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@b_baremore wrote:

You said that the lenders can go back and look at the entire credit file.  What do you mean by this they can go beyond that what is being reported in a CR. I have always wondered if there is someone or something out there that keeps tabs on everyones credit files from the start of life.

Thanks Before hand,

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Everyone has a credit file, which is different and separate from you credit report.  Negative items cannot be reported beyond 7 - 7.5 years on your CR.  Once they are removed they are maintained in a credit file.

When you apply for a mortgage or insurance which is more than $150,000 or have an annual income of $75,000 or more, the creditor can see your entire credit file.  It is a right they have.  Whether they exercise that or not is up to them.

[RobertEG]

I concur with Guiness.  The relevant statute is FCRA 605(b).

This grants a total exemption to all of the CRA restrictions of FCRA 605(A) barring inclusion of derogs in your credit file from any credit report they issue, providing the party requesting the CR specifices that the inquiry is to be used in connection with the a credit tansaction or underwritng of life insurance which involves, or is expected to involve, a principal amount of $150,000 or more (most mortgage loans), or is in connection with an employment investrigation that can reasonably be expected to invlove an income of $75,000 or more.

I dont know if most mortgage companies invoke this right to your full credit history, but they are entitled to it if they so request.

So, gone from your current credit report does not necassarioly mean it is gone from your reportable credit history.

[Anonymous]

It is only showing in the Equifax and that is why you score is lower than the others. I had the same problem but with Transunion; once I paid off my car loan my credit score jumped right up to match the others, actually they are less than 20 points difference. If you have the credit agencies list your loan your score with them will probably drop as well. Might be better off leaving it as it is.