Credit report/score

[SmallTown]

Why would too many credit checks on your credit score lower your score? If anything I think it woudl proove that you care alot abuot your credit score and that's why you check it. :shrug: Its because credit is important to you and all :shrug:

He said checking your own doesn't hurt your score...

They have modified the rules a little bit. I forget the actual criteria, but if you are shopping for say a home loan and go through several lenders to get quotes, they view this as "one" check. There are time frames involved, so if you have 6 checks in a 2 week period (for example, don't recall the actual numbers) it counts as one. but if you have 6 quotes, 1 say every two months, then it counts as six.

 

[LexiGirl75]

I subscribed to that free credit report thingy about a year ago; right around the time I was paying off a bunch of crap! I get monthly updates and alerts for $12/month.

They cited this as a waste of money on msn money (see link). I use to pay for quarterly updates at $11 a month, but for all that they do, one can pull their own report each quarter for much less. click-it

 

[ememdee19]

Where can one check their credit score and subsequently obtain a report?

Hey BL, go here. It's recommended by Suze Orman and it's completely free. You won't get a score but you can view all three bureaus.

Orman's site.

 

[itsbob]

My dad just bought a heritage softail.

Is it his first bike??

 

[Chasey_Lane]

They cited this as a waste of money on msn money (see link).

Of course it is a waste of money and I didn't need to hear it from NSN.

 

[Chasey_Lane]

Is it his first bike??

Hardly. His first was when I was just 2-3 years old.

 

[morganj614]

Thanks! I just checked mine after years of not checking. After my divorce it was terribly low. I brought it up over 200 points to just under 900

 

[Wenchy]

Thanks! I just checked mine after years of not checking. After my divorce it was terribly low. I brought it up over 200 points to just under 900

Question for you Morgie:

Did you have to pay something for the actual "score"? The credit reports (free) that I've received in the past did not have the "score".

 

[morganj614]

Question for you Morgie:

Did you have to pay something for the actual "score"? The credit reports (free) that I've received in the past did not have the "score".

Credit reports are free, all 3 of them. I paid $5.95 for the score. I see where others charge $7.95 and up.
It had been so long that I wanted to know and I am glad I did it

 

[truby20]

Thanks! I just checked mine after years of not checking. After my divorce it was terribly low. I brought it up over 200 points to just under 900

FICO scores only go to 850....
800+ Credit Scores

 

[morganj614]

FICO scores only go to 850....
800+ Credit Scores

The one I had went to 950?
I'll have to go back in the site but I just talked to someone here that said she read a month ago it was changed.

 

[Pandora]

The one I had went to 950?

Equifax goes to 950.

 

[morganj614]

Equifax goes to 950.

So there is no just one chart? That's very confusing then.

 

[Pandora]

So there is no just one chart? That's very confusing then.

Oops a difference a question mark makes. What service did you use? I know some of these so called "credit" checks are not always done on the FICO scoring so that is something you should be aware of.

 

[morganj614]

http://www.myfico.com/CreditEducation/CreditScores.aspx

There are really three FICO scores computed by data provided by each of the three bureaus––Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score.


I am reading up on it now...

 

[Pandora]

http://www.myfico.com/CreditEducation/CreditScores.aspx

There are really three FICO scores computed by data provided by each of the three bureaus––Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score.


I am reading up on it now...

I couldn't remember the name of it, so I had to do a search. It sounds like what you got is a VantageScore, if that is what they said, close to 900, but your overall credit score thru FICO only goes to 850.

Here is the article .

If you scroll down, you will read some of the reader's comments. Some believe the credit companies are trying to get rid of FICO by creating their own system of scoring, and it does look that way.

When I look at my credit, I want my FICO score, but I remember when I read the article they said "in a few months" so with your post I was curious if something had changed.

 

[marianne]

You get a free report once a year (can't remember all the restrictions) however; if you want monthly updates and so forth, it cost a little more.

You get a free report from each of the credit providers once a year. Rather than paying for a service that does monthly checks, you can spread out your inquiries to get a free report once every four months. For example, put it on your calendar to go to equifax every January for a free credit report. Every April, go to experian for a free credit report. Then every August go to Transunion for a free credit report.

 

[Fallen]

Too many open old accounts can drop your score.

I had heard differently so I looked it up.

http://www.sptimes.com/2004/05/02/Columns/Old_accounts_a_plus_f.shtml

 

[Pete]

I had heard differently so I looked it up.

http://www.sptimes.com/2004/05/02/Columns/Old_accounts_a_plus_f.shtml

Thats the thing about this mystical credit system. When I was readying myself for a mortgage I did a lot of research and there is so much contradictory info out there. Depending where you read it, too many cards is bad, old open accounts are bad, no no old accounts are good, having cards is good with low balances is good.

They need to standardize this info, explain it and then go with it. Having 4 different methods for computing scores, weight of each area, is wrong especially in a financially driven society like ours.

I think you should be able to see your credit report and score 365 times a year free. It is your info :shrug:

 

[onebdzee]

I just did all three of mine and

Petey, I won't be needing you to buy me that house after all....I can do it all by myself