Here's a new piece to add the puzzle of TU credit scores. In October I got a free credit report for being denied a credit card and my score was listed as being 580. I disputed some information earlier this month, it came back verified and on my November report, my brand new Gateway account for my computer is now listed. Brand new, large balance, score still 580. Figure that one out.
Well, until you pay down that brand new big balance, your score may well even decrease. As you know, good credit (not just good scores, for that matter) are built upon a record of on-time payments and demonstrated ability to pay back borrowed money. Acquiring a loan, then, doesn't say as much regarding how big a risk you are, as paying back the loan. Once Gateway reports that you've paid off more than half of their loan in a timely manner, their tradeline should boost your rating! Doc
I think her point was that her score should have gone down with the addition of a new account with a large balance. I agree, TU's score seems to be a farce, more so than the others. It hardly ever changes no matter what (based on my observations with my own accounts).
I tend to agree with TU's score being a farce. They give me an 842 and WK a 59. TU is my only clean CR but when I had a tri-merge pulled for a mortgage app a few months back, it was in the upper 600's. I did have a few derogs left when the tri was pulled though. [edit] The tri-merge was my FICO.
TU score is not FICO... <insert broken record about scores here> Only FICO scores are seen by creditors. No creditor sees your TU consumer score... So it doesn't matter!
You just said it Bkev!! Why do they bother? It's like giving giving us a pacifier. We would like to see our Empirica scores. I am annoying my congressmen to death with my views on this.
