I just spoke with them regarding my application yesterday. They are concerned that TU sold them a score of 692 for me and sold me a score within an hour of 752. They said their chief lending officer is contacting TU today to find out why the big difference. Needless to say he thinks they can give me a $4-5K line with 10.9%. If you make all payments on time your APR drops every year until you are at 9.9% fixed. When you reach 9.9 your credit line is virtually anything you ask for, is what he told me. If you have a 740+ score you qualify for 9.9% and basically the sky is the limit on limit based on income and debt/ratio. I am at 35% debt ratio but he said they will really work with me because they want me as a customer. I have never dealt with any bank or creditor as nice as these people. He even knew me by name when I started telling him the situation from yesterday.
The TU "score" they give with the report isn't a real fico score. That's why it doesn't match what they sell. Neither is CreditExpert. I had this confirmed by a Fair Isaac rep. He thought it was ridiculous that they were giving away "scores" that aren't real scores. It's misleading and insulting. Unless you mean as part of the settlement they gave you a real score... then it could just be a different type of fico score (there are multiple products).
Christi Thanks for the info! I have not applied with New Generation just yet, but this info is gold. I have 3 negatives left on my TU and I will have a 3 year old 6500 limit reporting in about 3-4 weeks. Perhaps they will match the limit. I have 18 more days for TU to finish with their investigation tick....tick....tick....tick....tick...tick
