I paid down balances on my credit cards, and it finally showed up on experian today, and my score went up ONE POINT!!!!!! Th simulator suggested I'd get at least a 30 point increase with the amount showing up today... I'm pissed off!!! Same thing happened when I had a 60 day and a 180 day late removed, it went up 2 points... one for each!! argh!!! Ok, I just had to vent. You may now go back to what you were reading
Why would you be upset at a fake score? The Experian score is really just to give you an estimate of where you are score wise. It can be anywhere from 5 to 75 pts (or more) too high or too low. In my case it was 16 pts. too low.
Nevermind. I just called experian to find out what the heck is going on. The lady told me that they never provide potential creditors with any score whatsoever, and all they provide is a copy of the report. The potential creditor in turn then goes and scores the report based on their own preset criteria. In other words, experian doesn't even do fico.
Only from a lender that has pulled your credit report. I was able to get my score from FNBOmaha. I contacted them directly and spoke with the credit department. They pulled my TU and EXP. Hope that helps... for the record my least favorite CRA is a toss up between TU and EXP. I never have had any problems with EQ though. They've been the easiest in getting items corrected on my credit report. PolarisA3
I don't think that's entirely true. I just went to my bank last month to open another line of credit and the gave me my EX score which was slightly different than my FAKO score, but the bank didn't generate that score or did they?
Well, the woman says the potential creditors do generate scores based on what they get from experian.... according to their own criteria (the criteria is up to the creditor). But experian does not provide creditors with any type of score.
That's interesting. What is their NexGen scoring system then? You know...the one where there is a different scoring model for subprime consumers? L
What I don't understand is if they don't generate scores to lenders then how can they claim the CE score is the one potential lenders use?
