Just checked all 3 FICO scores and Experian dropped almost 70 points!!!! All I did was open up a few new credit accounts! Good ol' TU and Equifax. They saved the day. At least my scores are still good enough for me to qualify for the interest-only mortgage I'm applying for. I know my score will rebound but what a shock that was to my system! I wonder why Experian is the only one to drop so drastically when all 3 bureaus have the exact information? Never mind me, I'm just venting
The "FICO" from the Experian site is a fake number. Have you pulled Experian from myfico.com? Ummm, how many is a few???
NEVER open anything before going for a mortgage...stop applying FOR EVERYTHING...like 3 months before (even if it is house related...like a washer/dryer, freezer and furniture)
when you have good scores and open new accounts your score will drop for the first few months up to 6 then they should come back up the difference between 720 and 850 is nothing anyway
I always pull my TU and Experian FICO scores from myfico.com and I pulled equifax FICO from equifax.com although Privacy Guard had the exact FICO score for Equifax on my 3-in-one report (that was a wasted $11). I have 5 credit cards now. That's it for me. I will not apply for any more new cards
Re: Re: Good Lord!!!!!!!!! Good advice. I plan to do just that. I know the real estate agent won't be happy but I have decided to wait until the 2nd phase of the new development I am interested in is finished in November. Then I'll buy. I hope the interest rates stay stable until then.
Re: Re: Good Lord!!!!!!!!! Will the house be the same price when the phase is finished? I bought mine when Phase 6 started in my development for $168K. The same exact house, in phase 7, is now $202K (and climbing).
Diva, If x+(a few)=5, then you started off with almost no accounts. Anything could have a big effect on such a thin credit file. I hope things go well with the mortgage.
Re: Re: Re: Good Lord!!!!!!!!! The agent on duty said that the exact house in the new phase would be more. But she wouldn't say how much more. I think they want to sell off everything in phase 1 before they even begin to take reservations for phase 2.
Re: Re: Good Lord!!!!!!!!! I started off with the Cap 1 card then I got approved for 4 more cards. So you're right. :/
Re: Re: Good Lord!!!!!!!!! AMY HI, what part don't you get the first about scores dropping or the second about no difference
