i just got another credit report on this site and i went from a 38 to a 26.citibank just started reporting my accts with them. i am co-signer on my husbands truck and that is showing up as a debt-thank god its a good one.i paid off 2 cards that are not showing up yet and also a collection that has yet to be reported as paid.my truck payment is not being reported on any of my reports. have been paying it for 9 months. also have a paid off car loan that shows as acct closed.i thought my score would improve when citibank reported.
Zip I wouldn't worry too much about the worthknowing.com score. I have a BK and 5 paid judgments showing on TU and I scored a 35. Also, I think they only update the report at the beginning of the month, so your paid accounts may not show up on their site until December.
Worthnothing, offers a new report every 90 days. They never update your report other than every 90 days. There scoring system is a farce, the more credit you have the lower your score. Fico does the same but counters it with points for the amount of credit, and other factors that worthnothing doesn't do. Take there score with a grain of salt, because that's what it's worth. The only good thing about them is they give you a copy of your TU Credit Report!
I pulled my initial report from Worthknowing in September. When I logged on again a few days ago, some of my accounts had been updated as of November (correctly).
That site and it's "scoring system" is about the biggest piece of junk I've ever seen. Like some have said, it's one way to get a free copy of your TU credit report (and to get it online, too). I have a $158k home loan (3/00), two lease cars (half paid off), two platinum credit cards with $9k and $10 credit limits with a total balance of maybe $500 combined, two installment accounts (1.5 years old) originally totalling $7500 now paid down to about $2000, and about ten accounts that I closed over the past few years, none ever late or derog. The ONLY derog I have is three OLD collection accounts for a total of $352 that have been paid off/zero balance for years (original delinquency date: 1994 and 1995) and a repo that I paid off (orig delinq date 11/94, six years ago). Basically, perfect credit, never late/no problems whatsoever on anything in 6 years, home loan, cars and platinum credit cards, and their "scoring system" said I was a 15. A 15!! Pah-leeze, that is about the most ridiculous thing I've ever seen. What a joke.
I encountered similar problems designing a static credit scoring system, which i dumped, in the early days of my credit software writing period. The problem really is, without a statistically based model similar to FAIR ISAAC, software will always pull out the "bad" and make it stand out more than it should be. Their scoring model is very simple, and being so, is prejiduce. It's not easy coming up with a scoring model that is static (non-statistical) without tweaking the hell out of it, and analyzing the scoring models output against thousands if not hundred of thousands of credit reports of varying nature.
Where are you getting that information? I received an updated credit report from WK within a 90 days period. It was about 1 month between reports and they were different. I think what you stated is just not true. I wonder? roni
