I'm having fun w/Credit Expert but this one killed me. My score has stayed 708 since I signed up 6/22. My partners' score was 630 on 6/22 (note, I'm the one with a BK in 1995... his credit is blemish-free, so go figure!). Today his score is 691. There are NO changes that I could see on the report or on the percentages. I played with the simulator some more -- I think FICO looks at inquiries in the last _2 YEARS_ much more than we all thought. He has (1) inquiry in the last 6 months, and 17 in the last 2 years (refinanced mortgage, new equity line, several new cards). If I slide it down to 5 inquries, the score appears to jump up almost 50 points. Slide it to 0 and it's up almost 90 points. VERY-- VERY interesting. From that I glean one clear message -- BE JUDICIOUS WITH YOUR INQUIRIES - THEY AFFECT YOU A LOT LONGER THAN YOU MAY HAVE THOUGHT. --mj
One more thing that I found -- It appears (again from their simulator) that the same affect on the score is achieved by reducing inquiries to 0 _and_ increasing the lates to 2 or more >90. SO... 16 inquries in 2 years = 2 or more >90 lates
mj, I wouldn't put alot of faith in the simulator. My score is 658, in the simulator before I change anything it's a 720+. If I slide my over 90 down to 0 it goes to around 820. My over 90's have to be my 2 chargeoffs. But I doubt very much I'll be seeing an 820 anytime soon, even if my 2 chgoffs get removed. I just don't buy it
Ditto for me -the simulator does not place me initially where my score should be, and gives me 120 points above that score if my inquiries (all >1 year old) go to 0. I emailed credit expert about this...they said that the simulator isn't to be taken as 100% accurate, that it is just a model of what could happen, since no one knows for sure the calculation formula for score...
I just love it! They say, here's your score, we can't tell you how you got this score, or what changes your score, and, well, this may not really be your score. We don't know for sure. But you wanted to know, so here it is. breeze
I have been going through the same thing breeze. I don't quite understand the scoring system of CE. It is really strange and I called customer service for CE and they could not give me a good answer either. I think Fico at EQ is teh best indicator. CE still needs to workout the kinks. Cyprigirl
I did some more investigation (with daily score updates, it's only a matter of time before we start cracking the mysteries of FICO!!) His score went up +61 and after a line-by-line comparison of credit reports I did finally figure out that 4 inquiries dropped off and one account updated (balance went down $300). That -- plus the way the simulator works (I wasn't looking for exact numbers, but for trends), I'm growing more convinced of the impact that inquiries - even 2 year old ones- than ever. It's changing my outlook - to be more careful with applications/inquiries. Even if it's not a big score factor, it's not a bad behavior change to implement (wagon, here I come... ) : ) mj
Now hopefully disputing some of the inquiries on the site will go through and solve part of this very issue! Thanks for the insight.
Last week, my score went down in ONE DAY, 15 pts. What was different? A new account was listed and ONE inquiry!
It's the inquiries, guys, that is what affects our score. I really think the jokes on us. Here we are killing ourselves, trying to get old accounts off our file which really don't affect our score, although it does effect your chances for a mortgage. But little things like inquiries seem to REALLY affect our scores and opening new accounts that you recently applied for ,,,INQUIRY,, double whammy! If am not mistaken it is only recently we are being allowed to dispute inquiries. They will have to come up with new ways to manipulate the scores. They are always a step a head of us. Just my 2 cents Cyprigirl
Well i had a nice surprise this morning my score jumped 17 points over night. One more account, which was dated from 2000 was removed. Cyprigirl
Well, I know this isn't the Experian/CreditExpert score, but I know for a fact that my Beacon (i.e. Equifax) score dropped 30 points after one inquiry. I had applied for a loan and an hour later got my Beacon from Scorepower.com. I and the LO who told me what my Beacon was when she pulled the report were both incredulous of the drop from one inquiry.
has anyone not been able to get their credit report today on Credit Expert? I have not been able to access it all today. Thanks, Cyprigirl
