@WoodyBlues wrote:For the last 2 years ive been monitoring my credit, disputing items, and such. I have been monitering my experian report and score religously almost every day. Over the last few weeks, ive noticed my credit score jump on the experian site to 673 from 555. Thinking this was my fico score, I was elated. I applied for a couple credit cards to further help with my credit. I have so far been approved for Wal Mart, Kohls, J Crew, and The Buckle.
My wife and I have been sharing a car for a couple years now. Thinking my credit was back to somewhat normal, we decided to go do a little car shopping this weekend. We were looking at the Toyota Corolla and Honda Civic, both affordable cars at around 20000. We finally found a deal we thought was great at a local dealership on the Corolla for 19000 flat. I applied for credit, was denied! I wasnt shocked at the denial, but when they said my credit score was in the mid 500's, I was totally in shock. I came home, did some studying and found out that the experian score ive been going off of for 2 years was my "Fako" score and not my real fico. I got on MyFico last night, ordered my experian Fico Score, and it was 658. Still not that great but definitely better than what the car dealership said it was. My credit report has no derogatories on it with the exception of a few late payments (I know, they really hurt your score, but didnt realize how much until now) and a paid tax lien from 2006, which only shows up on experian for some reason.
I gotta admit, i feel a little kicked in the teeth after this weekend. Ive been so excited about my credit score improving and then come to find out ive been looking at the wroing credit score all this time and buying a car is going to take a while longer. Just feeling really dispappointed right now.
Sorry to hear this. The score they would have used would have been an auto enhanced version of your FICO, its different from the one here on myFico. myFico gives you an EX 08. That tax lien has got you bucketed in with others who have public records, it will affect EX until it is gone and you get re bucketed into the group that has no PRs. If its a federal paid lien file form 12277 and get it withdrawn then it can be removed from your EX report.
If you look at my siggy you will see quite a bit of difference between TU & the other 2 thats due to being bucketed in with people who have PRs on TU (a dismissed BK from 2005, its off EX & EQ), without it the FICO would be quite a bit higher...
