Page 1 of 2 1 2 LastLast
Results 1 to 10 of 15
  1. #1
    RichGuy is offline Senior Member
    Join Date
    Jul 2001
    Posts
    1,139
    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.  
  3. #2
    AJiLE is offline Member
    Join Date
    Aug 2001
    Posts
    74

    Re: First Real Score=646

    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.

  4. #3
    sam
    sam is offline Senior Member
    Join Date
    Mar 2000
    Posts
    3,706

    Re: First Real Score=646

    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.

  5. #4
    RichGuy is offline Senior Member
    Join Date
    Jul 2001
    Posts
    1,139

    Re: First Real Score=646

    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.

  6. #5
    Momof3 is offline Senior Member
    Join Date
    Mar 2000
    Posts
    3,244

    Re: First Real Score=646

    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.
    Momof3
    Official Home Owner 335 to go!

    Proud to be a member of the "TRIO", that's a group of three individual people LOL

  7. #6
    RichGuy is offline Senior Member
    Join Date
    Jul 2001
    Posts
    1,139

    Re: First Real Score=646

    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?

  8. #7
    Momof3 is offline Senior Member
    Join Date
    Mar 2000
    Posts
    3,244

    Re: First Real Score=646

    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.
    Momof3
    Official Home Owner 335 to go!

    Proud to be a member of the "TRIO", that's a group of three individual people LOL

  9. #8
    RichGuy is offline Senior Member
    Join Date
    Jul 2001
    Posts
    1,139

    Re: First Real Score=646

    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.

  10. #9
    Momof3 is offline Senior Member
    Join Date
    Mar 2000
    Posts
    3,244

    Re: First Real Score=646

    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.
    Momof3
    Official Home Owner 335 to go!

    Proud to be a member of the "TRIO", that's a group of three individual people LOL

  11. #10
    RichGuy is offline Senior Member
    Join Date
    Jul 2001
    Posts
    1,139

    Re: First Real Score=646

    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.

Page 1 of 2 1 2 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Sign up for the Creditnet email newsletter.

Creditnet - Find the right credit card for you Best Airline Cards Best Gas and Groceries Cards Balance Transfer CreditNet Best Credit Cards for Building Credit

Find a
Credit Card

Research, compare, & apply

Bad Credit

0% Interest

Cash Back

No Annual Fee

search

Perusahaan Outsourcing Bekasi

Outsourcing Tenaga Kerja