Score from Myfico.com..Questions!

Discussion in 'Credit Talk' started by Eric2OO2, Aug 3, 2002.

  1. Eric2OO2

    Eric2OO2 Well-Known Member

    Hello All! I just pulled my score and report from myfico.com. This places gives you your "beacon fico" and no im utterly confused. They also give you your credit report thru equifax for $12.95. It said that my score is 701, from what I understand, this is a good thing, RIGHT ? LOL I hope so. Im very new to all these credit scores so I could be very wrong. The only bad thing on my report is the 7 inquires. These drop off after 2 years , right ? if so 6 of them will be dropping off next year, Thank God! I only have one account listed, its the only account I have and Cap. one has been reporting to them well...Well now I know my Equifax score is 701, this is a good thing, right ? Thanks in advance!

    PS- I tried doing a search, didnt come up with much...
     
  2. SweetnSas

    SweetnSas Well-Known Member

    700 is good Eric, but while you were right there on the myfico website, there should have been some information to understand your score.

    In addition, I could have sworn they have a little graph that shows you were your score falls and if it's high risk, med high risk, med risk, low risk, etc.
     
  3. Nave

    Nave Well-Known Member

    Eric,
    The score from MyFico.com only counts hard inquiries up to 1 year old. So even though they remain on your report they only count in the FICO scoring model for 12 months.

    If you get your Equifax report and click on INQUIRIES from that screen you will see all your inquiries soft and hard up to 2 years old.

    If you get your MyFico.com score and click on the INQUIRIES link from that screen you will ONLY see the HARD inquiries that are affecting your score (12 months and more recent).

    -Peace, Dave
     
  4. Eric2OO2

    Eric2OO2 Well-Known Member

    Yep there is! It has quite a bit of info. Im just shocked that it says my score is 701 and wanted some confirmation you know ? LOL may sound silly but its true. Im young and just starting out and didnt expect that!
     
  5. Eric2OO2

    Eric2OO2 Well-Known Member

    From my equifax report on myfico.com it says :Total number of inquiries resulting from you applying for credit : 7 , and they date to 2001, 6 of them are from 2001. So your saying I need to get my report direct from equifax to see ALL the reports ? Surely there isint more, dont think there should be.
     
  6. Nave

    Nave Well-Known Member

    Oh yeah there are plenty more, I have over 100 soft inquires, and 3 hard inquiries...some on this board have 200 or more soft inquiries.

    Soft inquiries do NOT affect your score so they are not displayed on the MyFico score screen, but they are on your Equifax report.

    And there may be more HARD inquiries on your report that are more than 1 but less than 2 years old. They will not show in the MyFico score report because that only shows Hard inquiries 1 year old or less.

    A human credit reviewer such as a mortgage agent will be able to see all your hard inquiries...even the ones that are not included in the MyFico score.

    Erik do yourself a favor, to find out everything on your Equifax report...order your HARD copy of your Equifax report. You should order at least one of each CRA to be certain you are getting things straight from the horse's mouth.

    -Peace, Dave
     
  7. tmitchell

    tmitchell Well-Known Member

    What did you search on and didn't myfico graph tell you what that score meant?

    Hmmmmmm.
     
  8. Eric2OO2

    Eric2OO2 Well-Known Member

    well yeah I suppose it did ... I just wanted some advice I suppose...
     
  9. SweetnSas

    SweetnSas Well-Known Member

    tmitchell,
    I was thinking this - and said it but I wasn't 100% sure (I have CE also, couldn't remember if myfico did it also).

    Erik,
    If myfico says "It's good", what more do you want? Or are you just coming here to post your score to gloat?

    If it was to gloat...then just gloat! "YEAH..I HAVE A 701 SCORE" rather than ask seemingly suspicious questions.

    We've had our fair share of trolls around here and even giving of the slightest hint that you might be could get you 100% ignored.

     
  10. Eric2OO2

    Eric2OO2 Well-Known Member

    Wow the people in the chatroom were much more friendlier than this last night. I didn't come to "gloat," at all! Sheesh! I was wondering if the beacon was the same as all the scores I see posted under people's posts here. Man calling me a troll ? I dont see that I did anything wrong and really didnt appreciate that AT ALL. I am 18, young just starting out and know very little about credit and what the numbers mean. I just wanted a confirmation I guess, from what myfico was telling me I guess. I apolgize if I have offended someone in some way, but I really dont think I should be the one apologizing. Man, I'll think twice before I start another thread here ! WoW!
     
  11. Nave

    Nave Well-Known Member

    Eric please don't.

    While on a public Internet bulletin board you just MUST accept that there will be posts you read, and others you ignore....that is just LIFE in the public anonymous world we live in. You just need a tougher shell.

    Read what you want to, pass the rest off...and PLEASE DO NOT BE AFRAID TO POST A QUESTION.

    After all, your questions were answered weren't they?

    Welcome aboard Eric.

    -Peace, Dave
     
  12. tmitchell

    tmitchell Well-Known Member

    Eric...

    Nobody labeled you a troll - relax. The questions just seemed a bit suspect. There's been an influx of trolls lately and many are just being cautious.
     
  13. SweetnSas

    SweetnSas Well-Known Member

    Oh come on Eric. I did not call you a troll...you're reaching there! lol

    What I am saying is, myfico gives you information regarding the score and what it means. Its right there. Then you come here and say, "Hey, is a 701 good? I got it from myfico". If what you wanted to know if myfico was your REAL score, then that would have been the question I asked.

    I also didn't say you came to gloat. I *asked* if you did. And that isn't a bad thing - we all gloat from time to time. Relish in our victories, share the joy.

    Lastly, the troll thing - again - didn't say you were. I know you're new here but we have had a rash of trolls coming on the board causing a ruckus. So some of us are ultra sensitive to off beat questions. If for some reason, someone suspects you (or anyone else) is a troll, that post is likely to be ignored.

    Don't be so sensitive. I was trying to help you *not* be branded as a troll.

     
  14. SweetnSas

    SweetnSas Well-Known Member

    Thanks tmitchell for coming to my defense. I guess that's what I get for playing on Creditnet when I should be out celebrating my 30th Birthday.

     
  15. Eric2OO2

    Eric2OO2 Well-Known Member

    Alright from now on in the future I will directly word my questions better I suppose. Well im not here to cause problems at all, I am here to LEARN so I can someday own my own car, own home, all with a excellent credit rating :)
     
  16. SweetnSas

    SweetnSas Well-Known Member

    You are off to a great start. Hopefully you won't ever need any of the information on this board (as far as repair goes).
     
  17. tmitchell

    tmitchell Well-Known Member

    No prob sweetnsas....

    Eric.....good! That's what this board is here for. 701 should get you just about anything you want, HOWEVER, only having one acct (CAP1 I think you said) reporting could be a problem.

    Go get yourself a store card (Target, Kmart, etc) and maybe one or two more bank cards (Visa, MC) and DON'T sccrew them up. In a year, you should be in the mid-700's and all set for a mortgage, car, etc.
     
  18. Nave

    Nave Well-Known Member

    Happy Birthday SweetnSas!!

    A Leo....me too, mine was last week. I am still celebrating my 30th Birthday!! Hehehehehe.

    Hope you had a great day. Have a drink on me :)

    -Peace, Dave
     
  19. SweetnSas

    SweetnSas Well-Known Member

    Thanks Dave!

    LOL...still celebrating your 30th huh? I bet!!

    I'm going RIGHT NOW to get that drink! Thanks again!
     
  20. LKH

    LKH Well-Known Member

    Happy b-day Leos. I'm also a Leo. August 15th. But this is the year that I stop celebrating. Geez. 30. I wish I was back at 30. LOL
     

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