Credit Score Dropped by "Update" on Experian??? Please HELP!

[Anonymous]

Good Morning,

I am hoping someone can help me understand why Experian dropped my credit score with them from 705 to 617 (good to weak) when I disputed an item with them that was "updated" in Sept. 2009.  I had a bankruptcy in April 2003, and this debt was included in that bankruptcy, and was noted as such.  The ONLY thing that changed was that it was "updated" in Sept. 2009.

How can this "update" affect my credit score as it was already reported correctly and what can I do about it?  I know the negative item will stay on there as it hasn't been 10 years from my bankruptcy, but why would this "update" hurt by credit score?

By the other two (Transunion and Equifax) did not change (Transunion is 731 and EQ is 708), and it has been about 30 days since this happened.  Thoughts, suggestions, etc?  I have worked hard to improve my credit scores, by making all payments on my student loans and new credit card since April 2003, and this was a REAL disappointment.   

[llecs]

Where did you get your Experian score from? I ask because as of last February, the only place to get your EX FICO (other than a CU called PSECU) is via your lender. If you got your score from any other source then your score isn't a FICO score. In other words, your EX FICO may not have changed at all.

[Anonymous]

I get all three scores (i assume are their own scores) on IdentityGuard.Com.  They use a third part provider to provide the scores.  Are those then no actual FICO scores?

They seem to be accurate.  They were referred by Credit.Com.

So should I assume they are not accurate and rather their own calculated score? 

[Anonymous]

Welcome to the forums!

All the scores obtained from that source are FAKO's. I am sure they are "accurate" but not FICO's. There are very few places you can obtain an EX FICO score and none that are available to the general public.

[MarineVietVet]

I also welcome you to the forums.

You can only buy true FICO scores at a few places. One place is here at myfico. I suggest you do an internet search for "myfico discount codes" to save a little money. You can also purchase your Equifax score at www.equifax.com and your Transunion score at www.transunioncs.com. 

(myfico)
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

CC interest free as of 8/09
Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

[haulingthescoreup]

---

DavidSilver wrote:

I get all three scores (i assume are their own scores) on IdentityGuard.Com.  They use a third part provider to provide the scores.  Are those then no actual FICO scores?

They seem to be accurate.  They were referred by Credit.Com.

So should I assume they are not accurate and rather their own calculated score? 

---

Experian stopped allowing consumers to buy their FICO scores last February. Now they're doing a brisk business in selling their FAKO's.

You can find out your EX FICO score by applying for a mortgage, which seems pretty drastic, or by belonging to PSECU, a Pennsylvania credit union that isn't easy to qualify for, as mentioned above.

Otherwise, any alerts that you get for changes in your EX score (or the other two, for that matter) from IndentityGuard.com or TrueCredit or FreeCredit.com or the other umpty-dozen credit monitoring services are based on FAKO scoring formulas. Following their advice can actually hurt your FICO scores, interestingly enough.

We hope you'll stick around and learn some of the ins and outs! If you haven't already, please read Understanding Your FICO ® Score and Credit Scoring 101 (at least the first post.)

These will give you the background knowledge you need to understand what you read here on the forums.