I just bought my first Equifax FICO score. The number they chose was 634. Purported Reasons: 1 Public Record, 1 Collection Utilization Ratio of 92% 6 Inquiries in 12 Months The 2 derogs drop off within 9 months, and I'm reducing the utilization ratio by about 3% per month, but I'm not too happy right now.
The FICO simulation wouldn't address my most important question: what happens when the derogs drop off? Only time (or successful disputes) will tell.
That 19% return you ADVERTISE is very important to me. I wonder how you can really pay it OUT OF EARNED INCOME without INCURRING EXCESSIVE RISK or VIOLATING SECURITIES LAWS. Just curious, of course.
Richguy, we do incurr risk, anytime you trade securities you do. There are no guarantees that we will not pay the loans off, however we have been doing exactly that, 19.47% APR, no missed payments and over $1.5 million paid off loans. We do not violate securites laws because we are dealing with a very limited number of none family member loans. We have passed the test with the State of New Jersey. Look up De Minimis Standard. BTW, you can e-mail me the cost of getting the FICO score if you do not want to make a pulic post and of course you do not have to answer the question. I did not mean to pry, I was just curious. www.creditsense.com
why does 634 sound wrong? you've got 1 public record, a collection and very high utilization...im confused (nothing new there)
Re: Re: 634 is not Good I think it's a good question better to be safe than sorry. So, do you get 3 hard inquiries, one on each report. .... I don't want to have to go through a bunch of hassle to get them off later.
Re: Re: 634 is not Good Thanks, I thinking I might order my report now, I want know where I stand for a loan(s). I have had a few mortgage people offer to do it for free but I do'nt want the hard inquiry(s) on my report? Do you know if any of these mortgage people can be asked to run your report as a promotioal soft inquiry and give you the results?
I didn't say that 634 sounds wrong, only that I'm not happy with it. Actually, while I disagree with the FICO scoring model, I now sympathize a bit more with some creditors that turned me down. They were acting in ignorance, the result of their dependence on FICO for a tiny amount of oversimplified information. One reason I thought my score could be higher was my existing prime credit from Citibank. They don't worry as much about old derogatory items (over 6 years, like mine.) But not everyone is as enlightened as them. I need to watch the inquiries, too. And utilization is much too high, but only because of health problems that strained my finances. I'm looking forward to a time about a year from now, when total utilization will go under 50% just as the last derogatory items disappear. I'm hoping to rise above 700 shortly thereafter.
Re: Re: Re: 634 is not Good You can get your 3 separate reports with real FICO score at $11.65 each at myFICO.com. Don't bother with a 3-in-1 report. Is $34.95 too much to get this info. from a reliable source with no hard inquiries ? Don't take me wrong, I'm not judging the value of $35 to you, just want to make sure you understand what it costs. I don't know if a mortgage lender will do that or not, I would just make sure they truly know the difference between a hard and soft inquiry. HTH
I just finished reading this thread and actually signed up on this forum just so I could tell you how rude and annoying you are. Additionally, is it too much to ask that you stop typing in all caps? I understand you are passive aggressive and frustrated about your dismal credit score, but I do not feel the poster who inquired about the price of your credit report deserved such a rude response from you. Thank you for reading, and I hope you learn to better express yourself without holding down the caps lock button in the future.
Well, the thread is seven years old. I doubt that many of the posters are here to see your comments. You would have to understand some underlying dynamics that were going on then. The caps wasn't to be rude or passive agressive, but to EMPHASIZE something. I personally think it's pretty rude to bump a 7-year old thread to attack someone who is no longer here over something you don't understand.
