ILUVTOFU asked:


All three?
[Equifax, Experian, TransUnion]
I want to know my FICO score, but want to know if every credit bureau has their very own FICO score.

And does MyFico offer monitoring for all 3 bureaus? [for individual credit scores]

Lee

thatblissguy asked:


I know that the calculations used by lenders for a mortgage differ from Fair Isaac (FICO). I have TrueCredit (by TransUnion) triple credit monitoring which gives me unlimited access to all three of my credit reports (TransUnion, Equifax, and Experian) AND my FICO scores. I am preparing myself for a refinance and I want to see how I am scoring with the mortgage calculation, since I have improved my scores significantly over the past year when I got my sub-prime mortgage. My one year prepay penalty is coming up in late December and I want to be fully prepared before I start shopping. Also, what ABSOLUTE MINIMUM credit scores do I need, (FICO) and (Mortgage Lender), to be considered for a Prime rate (<7.5%). Thanks for your help, the people that contribute are greatly appreciated and I'm honored for your time and efforts! Keep up the good work!!!
So I just figured out recently that TransUnion's TrueCredit scoring use FACO and not a true FICO. I went to each bureau seperately and got my FICO and heres what I found, its astounding:
TU EXP EQ
FACO: 637* 596 607
FICO: 637* 660 678

*TransUnion only offers this scoring

I was going off this FACO calculation for over a year! Come to find out I have pretty good credit, and the things I have done to improve it had paid off substantially more than I thought in the past! My Mortgage score was MUCH higher than my FICO when I was applying for my first mortgage. So I now feel that my MORTGAGE SCORE should be in the 700s? Does anyone agree with that? That a middle score of 660 FICO would be at least 700 in Mortgage credit scoring?

Beth

nirvanas_love_01 asked:


a couple weeks ago My husband and i pulled a trimerge at our mortgage lender. My husbands scores were 592 618 644. Today I enrolled in credit monitoring and his scores were 611 627 628. How accurate are these scores if the lender would pul them again? DO the scores vary depending on who pulls them or will the scores he pulls be the same on our credit monitoring report?
a couple weeks ago My husband and i pulled a trimerge at our mortgage lender. My husbands scores were 592 618 644. Today I enrolled in credit monitoring and his scores were 611 627 628. How accurate are these scores if the lender would pul them again? DO the scores vary depending on who pulls them or will the scores he pulls be the same on our credit monitoring report? I know they vary from each reporting bureau I want to know if they vary depending on what type of company pulls the report

Ricky

Bill Pratt asked:




Freecreditreport offers online credit reporting resources to consumers worldwide and belongs to the ConsumerInfo family. The company is a leading provider of online consumer credit reports, credit information and monitoring services as well as credit scores.

The company has served 3.1 members thus far and delivered more than 20 million credit reports. The indispensable services and befits offered by Freecreditreport has taken the company to newer heights as the membership count continues to rise.

Consumers can now wield control over their credit by taking advantages of the services offered by this company. The first step involves getting access to their free credit report and credit score. Customers can try these services completely free of cost with the 7 day free trial offer.

The features and benefits also include:
Daily monitoring of Experian, Equifax and TransUnion credit reports
Email reports of any kind of changes and risks of identity thefts to any of the three credit reports
$50,000 Triple Advantage Guarantee feature offered the company

The paid membership comes with access to unlimited Experian credit reports and credit scores.

Monitoring and analyzing the customer’s credit score can result in substantial savings as these credit scores are taken into consideration by lenders for the “credit worthiness” of customers in order to facilitate processing of loan application, credit card application and other lines of credit. This credit score in turn helps in determining whether the applicant qualifies for a credit or not as well as the interest rate applicable on the given credit.

These credit scores are extracted from the credit reports which have a propensity to change on a daily basis. It therefore becomes imperative to monitor your credit reports as this could directly affect the credit scores.

Freecreditreport takes care of all these intricacies for its customers/members while obviating the any associated risks in terms of unauthorized activity or potential discrepancies. Customers also get to guard their identity, as Freecreditreport monitors the customer’s Experian, Equifax and TransUnion credit report on a daily basis.

It is important for the customer to note here that higher credit scores equate to lower interest rates on new loans, thereby resulting in substantial savings.

Joe

Eldorado asked:


Every site I go to so far it wants you to sign up for a monitoring fee or wants you to buy three credit scores and reports. I don’t want a score and report smothered in BS.

Alicia

Michael Benifez asked:




Not everyone has good credit. Consider different credit scores of average Americans. It’s commonplace for people in this country to have bad credit. Anyone can make financial mistakes. Most people do it from time to time, and bad credit is nothing to be ashamed of.

There is hope if you are trying to buy a car and have bad credit. Car loans with special rates are available for people just like you. Finding a dependable car you can feel good about, however, is not always easy. Make sure you get the best car loan possible.

It may take a little longer to get a car loan for people with bad credit. Persistence will help you get the car you want without having to deal with high interest rates. Work to find rates that will fit your specific situation. Check out financial institutions that will work best for you and your needs.

A car loan for people with bad credit can be acquired in a short amount of time. Don’t settle for deals that come with high interest rates and varying service charges. Find something out there that doesn’t have added fees and will get you the car loan that you deserve – even if you have bad credit.

You don’t need perfect credit to get a new or used car. Improve your credit rating by finding a loan that fits your needs. Make your budget work. Once you start paying each loan on time, your credit scores will increase with that consistency, and so will your ability to purchase the car of your choice.

Laurie

Stacy Evans asked:




Did you know that there are three main credit bureaus that handle and monitor your credit? Consequently, you have three separate credit scores and credit reports. Annually, you are entitled to one free credit report, per bureau. It is important to check all three credit reports because each report is different. The same account that will appear on an Experian report may not show up on a TransUnion report.

Equifax was founded in 1899; it is the oldest U.S. consumer credit report agency. Equifax was originally known as “Retail Credit” until 1975 when the company was accused of issuing personal information such as marital troubles, sex life and political views to creditors. As a result, creditors would base credit worthiness on the premise that if you participate in deviant sexual practices or abuse your spouse, it is likely that you could not be trusted to back a loan. That same year, Retail Credit announced that it would computerize its files. As a result, they were brought to court by a Columbia University Professor Alan Westin. The professor argued that computerizing information presented a threat to a civil liberties and privacy. He also argued that the company would give information to almost anyone who wanted it. Accordingly, the Fair Credit Reporting Act was created later that year.

Decades after rebuilding its reputation, Equifax now has offices in approximately 14 countries. The company also works very closely with the government to make certain that they do not violate any privacy laws. Though they do adhere to these laws, they reserve the right to report suspicious activity. Experian’s reports and scores are different because they use a different method of collecting information for credit reports and scores. Some credit bureaus use the FICO scoring method while others have adopted methods including, VantageScore and the PLUS Score.

Equifax offers various services and products, including Equifax ID Patrol, Debtwise and Score Watch. ID Patrol monitors your credit file and sends out alerts when important changes are made. For instance, if your private information is found in a suspicious underground internet trading site, Equifax will notify you via e-mail. Debt Wise provides you with a step-by-step plan to quickly pay down your debts. Score watch monitors your FICO score so that you can achieve your ideal score. ID Patrol will give you a thorough explanation on what changed your credit score. Equifax provides several other services, all for a small fee.

All of the credit bureaus offer various services that will help you repair your credit. To find out the best credit monitoring and repair methods without the hassle of everyday research, seek advice from a credit consulting company.

Willie

Chane Steiner asked:




Alliance One is one of the biggest collection agencies in the world. Alliance One was formed in 1999 through the merger of five predecessor companies. As of August 1, 2007, Alliance One, Inc. is a subsidiary of Teleperformance USA, Inc. They specialize in health care debt collection and have more than a dozen offices and call centers in the United States.

If you do a search for Alliance One on the internet, you will no doubt see many complaints about them and their harassing phone calls and incompetent, untrained employees. Avoid talking to debt collectors on the phone. All communication with a debt collector should be written. Learn your rights under the Fair Debt Collection Practices Act before dealing with collection agencies.

When Alliance One is assigned a collection account from one of your creditors, they report the account on your credit report. Collection accounts on your credit report can severely damage your credit.

The good news is collection accounts are removed from credit reports by the thousands everyday. If you have collection accounts on your credit report there are a few ways you can have them removed. The most effective method is to dispute the account with the credit bureaus. You are permitted by law to dispute any item on your credit report that is “questionable”. If you’re not sure that the details of an account are being reported correctly or if you are completely unfamiliar with the account at all, then you can dispute it with the credit bureaus.

Debt validation and pay for delete methods are other techniques used by credit repair services and consumers trying to repair their credit. It’s important to explore these methods when dealing with collection agencies like Alliance One. By getting collection accounts taken care of and removed from your credit reports, you can raise your credit scores and have a better chance of getting a loan with a good interest rate.

Heather

Brian Miller asked:




Cyber crime is on the rise and usually results in ID theft. That can include theft of credit card numbers, debit cards, social security number or any other personal/financial information.

Criminals use sophisticated online phishing schemes to lure your into giving them your personal information through fake websites that imitate legitimate sites.

Criminals can also use the old fashioned way of stealing wallets or purses. Even if you just lost your purse or wallet, you stand a chance of getting your ID stolen.

Id theft can affect your credit in a bad way, not to mention your finances in general. It can completely ruin your financial future for years. Once a criminal gets your credit/debit card they can completely max out your credit cards or withdraw (steal) money via your debit card. You could be held liable for any charges to your account. They also can use YOUR social security number to create a whole new Identity for themselves.

All this will have a negative impact on your credit history. Having poor credit score can mean higher interest rates on loans and possibly higher insurance premiums -each of which can end up costing you thousands of dollars. Even some employers are checking credit histories of potential employees so it could affect your ability to get a job.

If you are just trying to improve your score you may want to monitor your credit score/report over a period of time to track your progress.

At the very least you can check your credit report at least once a year to check for errors and much more often if you suspect ID theft.

You can get 3 free credit reports from annualcreditreport com. The problem with that is you can only get each of 3 reports once a year. You could request one of the 3 reports every few months if you want to – but that still may not be enough.

You can also get your credit scores from each of the 3 credit bureaus for a fee. Those aren’t free.

There are services that monitor your credit scores and report. They are usually monthly fee based. Some provide theft protection in the form of insurance, as well as alerts to changes. They usually give you your scores right up front.

Tina

Lisa Nichols asked:


Your credit history and credit score have a major impact on your life. A credit history follows you no matter where you live, work, do your banking or apply for credit cards or loans. A credit score varies in range from 300 to 900. The national average for a credit score varies, but is usually around 692, says Experian Information Solutions, Inc. Learn more about what impacts a credit score, the short-term and long-term effects of a credit history and ways to improve a credit score.

What Impacts a Credit Score

Many events and activities impact a credit score. Approximately 35 percent of a credit score concerns payment history. Outstanding debt makes up 30 percent of the credit score. The credit history length comprises 15 percent. Ten percent of a credit score is based on inquiries. The last ten percent of a credit score concerns types of credit. Traditionally, information from credit card companies and lenders made up most of the information that impacted a credit score. More frequently, however, cell phone carriers, energy companies and other service providers now report payment information to the credit reporting agencies.

Short-term and Long-Term Effects of Credit Scores

A credit score has a number of short and long-term effects on your life. Getting denied for low interest credit cards or loans and not getting the best loan rates are common short-term effects of having problems in a credit history. A problematic credit score can also have a number of long-term effects on your life. Problems in a credit history like bankruptcies, judgments or collections don’t just go away. Hiring companies, landlords and insurance companies are just a few of the companies using credit histories or credit scores to determine eligibility.

Ways to Improve a Credit Score and Establish Credit History

There are a number of ways to improve a credit score and to establish a solid credit history. A free credit report is available to everyone annually and can be helpful for pinpointing mistakes or suspicious activities. A solid credit monitoring program includes ideas for ways to improve a credit score. A “poor credit” credit can help establish a solid credit history. Prepaid phone cards can also help improve a credit score.



Jerry