@laytonc32 wrote:I have been checking my credit once my student loans were paid off and all my credit scores went up. Equifax: 761, Transunion: 756, and Experian: 671. I was trying to figure out why Experian is lagging behind the other two. I looked through all three credit reports and couldn't find any major difference. The only thing I could find was a charged-off credit card. Long story but a family member opened up a card in my name and I refused to pay it. And just ignored it. I noticed that on my credit report, they have reported it as a charged-off since August 2020. The credit report says there is 39 potentially negative months. The other two reports mention this card but don't mention the 39 months. Is it that simple? I only owed 1500 and called and was able to settle for 900. I figured it was best just to pay it. Will that help? Or will it take some time? Once it is paid, can I talk to credit about removing most of those charge offs except the first one?
Where are you getting your scores? I ask because it sounds like you're mixing Apples and Horse Turds. Assuming you got your Experian score directly from Experian, then it is a true FICO score; assuming you got your Equifax and TransUnion scores from either those two web sites or from the likes of CreditKarma, then those are the turds as those scores are Vantage 3.0 and not FICO.
@laytonc32 wrote:I have been checking my credit once my student loans were paid off and all my credit scores went up. Equifax: 761, Transunion: 756, and Experian: 671. I was trying to figure out why Experian is lagging behind the other two. I looked through all three credit reports and couldn't find any major difference. The only thing I could find was a charged-off credit card. Long story but a family member opened up a card in my name and I refused to pay it. And just ignored it. I noticed that on my credit report, they have reported it as a charged-off since August 2020. The credit report says there is 39 potentially negative months. The other two reports mention this card but don't mention the 39 months. Is it that simple? I only owed 1500 and called and was able to settle for 900. I figured it was best just to pay it. Will that help? Or will it take some time? Once it is paid, can I talk to credit about removing most of those charge offs except the first one?
Welcome to the forum.
If there is a chargeoff in your Experian report but not in the others that will explain it.
Paying it is always good, but will not remove it from your reports, unless you have negotiated a pay-for-delete.
@laytonc32 wrote:Thanks. So I didn't not know this but the other scores come from Credit Karma and Credit Wise. I just thought they be closer than they are. After paying it off, I imagine it won't help my credit score immediately, but will it help it months later? I don't have much good debt, but was considering maybe buying a house or a car in a year.
CK and CW are Vantage 3.0 scores, have nothing to do with FICO scores.
It may be years before paying it off will help significantly, but it's wise to do it.
@laytonc32 wrote:I have been checking my credit once my student loans were paid off and all my credit scores went up. Equifax: 761, Transunion: 756, and Experian: 671. I was trying to figure out why Experian is lagging behind the other two. I looked through all three credit reports and couldn't find any major difference. The only thing I could find was a charged-off credit card. Long story but a family member opened up a card in my name and I refused to pay it. And just ignored it. I noticed that on my credit report, they have reported it as a charged-off since August 2020. The credit report says there is 39 potentially negative months. The other two reports mention this card but don't mention the 39 months. Is it that simple? I only owed 1500 and called and was able to settle for 900. I figured it was best just to pay it. Will that help? Or will it take some time? Once it is paid, can I talk to credit about removing most of those charge offs except the first one?
This is not legal unless it was your spouse. I'd take some legal action.
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