UGHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!I know we have access to these scores and so we want to use them to better understand our credit positions.. but please... EXPERIAN'S CREDIT EXPERT SCORE IS BOGUS!!! SO IS TU'S!!! This is confirmed directly by Fair Isaac. THE ONLY REAL FICO SCORE YOU GET IS EQUIFAX... and I'd bet my first born it's an old model and not updated (meaning derogs hurt more in the old models than in the newer ones). Regardless, you guys have almost got to forget those free scores you get from TU and Experian. they aren't necessarily indicative of your real scores. And your real scores will depend on 1.which model the creditor is using 2. outside factors that affect the model 3. how many errors you have on yorur report that are screwing your score If you want a real score, use a mortgage tri-merge, or ask your local banker for a personal loan/ line of credit and ask them for your score, or apply online and sweet talk the customer service into revealing your score and which bureau they used. Past that, you're just wasting your time with these play scores that are passed onto us like they're real. It's insulting to our collective intelligence and it's misleading to think that if you have a 755 TU or a 698 Experian score that your real score is that.. it might be, or it might be 100 points off. I've seen both. The only things that even help you with those b/s scores is that we all realize that revolving ratios drive scores, and that inquiries will hurt for a year, 90 days the most. Spend your time increasing your income, paying off your bills and thus lowering your ratios (which will save you tons of money and help your score)... and if your score is in a range where you generally get what you want... who cares what the actual number is If you can't get the credit you want, they you know what factors are screwing you. Work on those in your reports and save your money in the interim. I know scores drive terms and loc, but if you're using TU or Experian's score as a guage for your efforts, you're kidding yourself. Oh, and once you get your foot in the door, most large creditors like Citi, Cap1 etc use their own internal scores. Meaning: I have a bk but my Cap1 internal score is huge. I now have 3 Plat cards aith 8.9 fixed. My bureau scores alone wouldn't likely get me that. I have a friend who has mid 800's and a 901. She has a 1500 Citi card. She asked for a line increase. She was declined. Why? They use their internal scores and she hasn't used the card in a year. Why? low credit line... why bother... it stays in with her underwear drawer (not socks). She could apply for a new card and get Plat.. but she is ticked at them for not considering perfect credit as a criteria for increasing her current card... so she won't use it and so they won't ever increase her limit. You have to get your foot in the door... I do understand that... but once you do you have to know what your creditors use to judge your worthiness for better lines/terms.. and most creditors then use internal scores (and they'll look at externals to make sure you haven't gone belly up in the interim... ) but the internal scores rule their promotions and increases. Just my .02 of how you've got to put "scores" into perspective.
Oh... to add to the confusion. Fair Isaac said the scores start in... well, categories so to speak. So the same thing can hurt you more or less depending on where you start. So if you're all prime: inquiries hurt less Moderate: hurt a little more Subprime: hurt most why? these scores are supposed to PREDICT defaults. and they start with the premise that, if you're prime you can handle more credit. If you're not, the newer credit then dramatically increases your chances of default... So the same item hurts different people differently. You could go crazy trying to figure it all out
