First Real Score=646

Discussion in 'Credit Talk' started by RichGuy, Sep 7, 2001.

  1. RichGuy

    RichGuy Well-Known Member

    I went online to order an Experian report. I'm going to get free reports from Trans Union and Equifax as well, since I've gotten turned down recently.

    Anyway, Experian/Credit Expert offered me the score for an additional $3.95, and I went for it. I was quite relieved to find that it was 646, well above 600. Based on the results from certain applications, I figured I was at 580 or so. (If I don't even get offered one of the subprime NextCards...)

    One interesting detail from the score report: Your collections are counted at 100% utilization. That helped contribute to my overall utilization ratio of 94%, not too good, I know.

    The score analysis was largely doubletalk. Length of credit history was listed as both a positive and a negative factor. Number of accounts (10) was listed as a positive factor. Credit usage, of course, was a negative factor for me.
     
  2. AJiLE

    AJiLE Well-Known Member

    Where were you able to find a place to order just ONE score on Experian's site?

    All I could find was for the $80 annual thing, which I didn't want.

    A. J.
     
  3. sam

    sam Well-Known Member

    here's a tip. creditexpert.com doesn't check the credit card for funding. I setup an "ecount.com" account with $1.00 on it to get my free trial from creditexpert.
     
  4. RichGuy

    RichGuy Well-Known Member

    It was a fluke, since I live in Arizona. The regular Experian site wouldn't accept my order, so I went to their local affiliate, Credit Data Southwest. They have something called Premier Information Center, which will sell you an online report, as well as merged reports through the mail.

    Perhaps Premier Information Center operates in states other than Arizona and New Mexico. It was very convenient for me, even though I was forced to use it.
     
  5. Momof3

    Momof3 Well-Known Member

    Please keep in mind Credit Expert is NOT your real score, this score is generated from their own software, this does not seem to be the same score that potential creditors or lenders receive from Experian.
     
  6. RichGuy

    RichGuy Well-Known Member

    Fine. At least it's more real than the simulations offered on other sites.

    As for the software, doesn't Experian also use its own software to give scores to lenders? And how do you know that lenders get a different score than I get? And even if they do, is the difference a major difference, or only a few points?
     
  7. Momof3

    Momof3 Well-Known Member

    Credit Expert never mentions FICO anywhere on their site. They have also been emailed/called by many members here and received the same info it is not FICO and last time I checked most creditors/lenders were using the FICO model. I am NOT trying to knock ths score, just pointing out what has already been stated.
     
  8. RichGuy

    RichGuy Well-Known Member

    I have read that mortgage lenders will use three scores, and perhaps average them, or use the middle score, or drop the lowest score. Now, if mortgage lenders use three scores, and they're all different, then they can't all be the FICO score, can they? Yet they are all used by the lender.

    I conclude that scores other than FICO are indeed used on a regular basis. Now, if Experian really has two different scores, one for me and one for lenders, then perhaps my score is irrelevant. But if not, then my score can still be relevant, that is, used for real credit decisions, even if it is not a FICO score.
     
  9. Momof3

    Momof3 Well-Known Member

    Yes mortgage lenders pull the trimerged reports, they get Beacon from EQ, FICO from EX and emperica from TU. They normally throw the high and low out and go with the lowest of the 2 middle scores (when applying jointly), in our case they based our mortgage on EQ and used the beacon score.
     
  10. RichGuy

    RichGuy Well-Known Member

    One possible flaw in my reasoning above: three different scores could be due to three different sets of data, not to three diferent models. The same (FICO?) model applied to three different credit records could yield three different results.

    Even so, I question whether Experian would really offer a FICO score to lenders, rather than their own model which was developed in cooperation with FICO anyway.
     
  11. RichGuy

    RichGuy Well-Known Member

    Sorry, I didn't realize that Experian actually markets a FICO score to lenders. Then any differences between FICO and Credit Expert would mean that a different score is offered to the public than to lenders.

    My reasoning may apply to Equifax and Trans Union scores, but not to Experian and my own Credit Expert score. Differing scores could still mean that the other two agencies offer a non-FICO score to lenders.
     
  12. Momof3

    Momof3 Well-Known Member

    Yes it appeard in my case, all 3 reports has exact same info, I went line for line, same balances, same opening dates etc. Yet one of my scores was very different than the others, EQ 675, EX 673 very close only 2 points off and then there's TU 646, same exact info, still guessing about this one LOL.

    Then it has you wondering since EX and EQ go to 850 and TU goes to 900 hmmmmmmmm.
     
  13. Momof3

    Momof3 Well-Known Member

    Yes richguy it appears exactly that way, just burns me up why they don't show/SELL us the same info they are giving out to lenders. My scorepower from EQ matched exactly day for day when my lender pulled it, however not sure if I got lucky b/c others have posted that their scores have been off.
     
  14. VJ

    VJ Well-Known Member

    Truth be known,Tu score goes as high as 934 and the lowest as low as 150 if your dead,on life support, and have a pulse in their model.

    VJ
     
  15. Momof3

    Momof3 Well-Known Member

    thanks VJ, you always give me a chuckle. Now let's think about this shall we, EQ and EX high range is 850 so a 750 looks pretty good, but since TU can go as high as you mentioned , would that 750 according to their scale not seem as good?
     

Share This Page