Credit score question

[Anonymous]

Hi everyone.  Im new to this website & have been keeping track of my score thru Scoresense (which gives me all 3) and CK (since its free).  I was in the mid 600s and

decided to go for an auto loan which I was denied. At least it was only a SP for that.  But when I received my letter in the mail, it said my TU score was 577!?  If I would have known that my score was a 577.. I would never have applied.  Is there a better site to get a more accurate report?  Sometimes thay all have something different.

[NRB525]

Yes, if you pay for the scores here, you get the true FICO scores. You would likely be able to see whcih of the Auto scores was actually used on your SP credit check.

and I have to wonder if it really was a SP. To trigger a "reasons letter" when denied like that, usually it follows from a HP.

[Anonymous]

Then im definitely going to cancel my other credit score acct & sign up here.  The gentleman at the dealership said it was going to be a SP, but the strange thing is that was back in early July. The 7th to be exact.  And a month later i get a letter?

[Anonymous]

In your initial post, you expressed that being able to get scores and reports at no cost to you was appealing.  That's common.  And indeed a good thing.  It shows that you are moving towards trying to avoid every dime of spending -- a great habit in general and especially for people who are in debt.

With the myFICO product, you will be spending $360 a year, and you will get scores and reports only every 90 days.  (You'll get updates on one score more often than that, but the most of the scores will only be every 90 days.)

Let us know if you want to hear low cost or zero cost alternatives.

[Anonymous]

HockeyFan87:  I could be wrong, but generally a car dealership does not do a soft pull (I work at one).  They may call it that because just pulling your credit doesn't guarantee that they will get you loan, but it gives them an idea as to whether or not they can get an approval.  If you went through with it, any bank that your loan application was submitted to would also perform a pull.  Legally, they are required to send you a letter any time they pull your credit and you do not complete the transaction.  

[Anonymous]

Hi,

Thanks for everyones response.   The dealership only pulled it & called it a SP.  I was just so confused as to why they pulled such a lower # than what I was expecting.

I do have one *baddie* that should be disappearing in Nov & only 3 cards that I am currently in good standards with.  Guess I will just lay low for awhile and let my score rise again.

[Anonymous]

Also, I'm pretty sure that Scoresense gives you Vantage scores.  That can attribute to the difference.  Also, the dealership likely used your auto scores which are different from your FICO8 scores.

[Thomas_Thumb]

Correct. ScoreSense does use VantageScore 3.0. Scoresense is a costly credit monitoring product and the parent company shamefully sells your profile information to 3rd parties. The three CRA scores they provide are available free thru a combination of Credit Karma & Credit.com.

I did a trial of this product for $1 and canceled after 30 minutes. I had to be quite forceful with the CSR to cancel. Other products offer the same monitoring and identity theft protection services for far less than ScoreSense $39 monthly fee or even their "please don't cancel" $19.99 discount. There are many alternatives available that offer Fico 8 scores as part of a monitoring/protection service.Others can chime in with specifics.

Frankly, I like PrivacyGuard's product which can be had for a discounted rate $9.95/month if you initiate cancellation during the 14 day free trial period. Really the only downside of PG is they provide CreditXpert scores for the 3 CRAs. Those scores correlate well to Fico mortgage scores but, they are not actual Fico scores.

OP - You should drop Scoresense and migrate to a more cost effective monitoring/protection product that offers Fico scores. 

I get Fico 8 scores from a variety of sources for free so PrivacyGuard's credit monitoring/fraud protection service is high on my list with their CreditXpert score. By the way, loan officers at some companies do look at CreditXpert scores and plug  "what if" simulations when advising potential clients on how to improve mortgage scores to qualify for loans.

http://ficoforums.myfico.com/t5/Mortgage-Loans/How-accurate-is-CreditXpert/m-p/4889083#M205026

http://ficoforums.myfico.com/t5/Mortgage-Loans/How-accurate-is-CreditXpert/m-p/4922715#M206672

[Anonymous]

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@Thomas_Thumb wrote:

Correct. ScoreSense does use VantageScore 3.0. Scoresense is a costly credit monitoring product and the parent company shamefully sells your profile information to 3rd parties. The three CRA scores they provide are available free thru a combination of Credit Karma & Credit.com.

I did a trial of this product for $1 and canceled after 30 minutes. I had to be quite forceful with the CSR to cancel. Other products offer the same monitoring and identity theft protection services for far less than ScoreSense $39 monthly fee or even their "please don't cancel" $19.99 discount. There are many alternatives available that offer Fico 8 scores as part of a monitoring/protection service.Others can chime in with specifics.

Frankly, I like PrivacyGuard's product which can be had for a discounted rate $9.95/month if you initiate cancellation during the 14 day free trial period. Really the only downside of PG is they provide CreditXpert scores for the 3 CRAs. Those scores correlate well to Fico mortgage scores but, they are not actual Fico scores.

OP - You should drop Scoresense and migrate to a more cost effective monitoring/protection product that offers Fico scores. 

I get Fico 8 scores from a variety of sources for free so PrivacyGuard's credit monitoring/fraud protection service is high on my list with their CreditXpert score. By the way, loan officers at some companies do look at CreditXpert scores and plug  "what if" simulations when advising potential clients on how to improve mortgage scores to qualify for loans.

http://ficoforums.myfico.com/t5/Mortgage-Loans/How-accurate-is-CreditXpert/m-p/4889083#M205026

http://ficoforums.myfico.com/t5/Mortgage-Loans/How-accurate-is-CreditXpert/m-p/4922715#M206672

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This is some good stuff.  I didn't know about Privacy Guard.  I might have to try them out.

[Anonymous]

Awesome! Thanks for the info Thomas.