Credit Score Not What I Expected

[Yikes]

What a let down. I got my TU report in the mail and my credit score is in the mid 500s. My FAKO score was reporting in the 700s. I know that the FAKO is not usually accurate, but I never expected by 171 points. I have no derog TLs listed, but there are two collection inquiries in the last 3 months and TU shows this as the #1 factor that affects my score adversely.

One of them is from CA - after I sent a DV request to them recently they removed the TL and sent the account back to the OC.

The other is from Arrow and I have no idea what that is for (although I believe it is from WAYYYY back.)

What is the best starting point to try to remove these inquiries? Dispute with TU? Send a non-PP? ... or is this a hopeless situtaion?

[DocDon]

An inquiry is only worth 3-5 points. There is no such thing as an inquiry from a CA being the #1 reason that affects your score adversely. Too many inquiries yes, but not an inquiry from a CA. Never heard of that.

The score you get from TU is your FAKO score, so I'm not sure what you're comparing the 171 point difference with. Your only true FICO score is from www.myfico.com

???

[Yikes]

aha, interesting - I'll go to myfico and check it out, thanks!

On the credit score page that TU sent it says:

Factor 1: Too many recent collection inquiries:

Consumers with recent collection agency inquiries are more likely of future delinquency.

[DocDon]

Thanks for that info. I have never heard of them counting CA inquiries like that.

And yeh, "Consumers with recent collection agency inquiries are more likely of future delinquency" because the information TU manages is ALWAYS right..... what a load of crap this is.

[Yikes]

Well I went to myfico and got this message...

We regret that we cannot provide you with your FICO score report as your report at TransUnion does not meet the minimum scoring criteria. Your credit card was not charged.

Hmm.

So, in response to what you mentioned earlier... When a creditor pulls TU, they do not get the credit score directly from TU? I am a little confused about credit scoring now. Can you point me to a thread that covers this topic in detail?

[DocDon]

There's another message I've never heard of before..... you're uncovering some interesting new topics here.

Fair Isaac came up with the FICO scoring model. They license the scoring model to the CRA's who often add their own ideas of the "ideal credit picture" into the formula. That's why there is often such a variation in scores between the CRA's... hence "FAKO" scores.

[Yikes]

I went back to myfico and tried the other two bureaus and got the same message. I have no credit score!

All that is left on my reports (after going through the DV process with three bad TLs) is a couple of positive accounts from over 10 years ago. I guess this is just not enough to base a score on. I've got a nice new secured card on the way, so I will check back after they report and see what happens.

Thanks for all of your help.

[ceowens]

If you have no active open accounts, you will get the "no score" message from MYFICO. I used to get it too. As soon as my first rebuilder card reported I had a FICO. You've got to get something reporting every month. Good luck.

[wert]

TU.....??

There is a slight possibility here that you might have a split file and you are getting mixed info about one or the other...

[Yikes]

I've since found that all three bureaus, I get the same message.

[Yikes]

And Yipppeee! I just got my secured card in the mail today.

[DocDon]

Congrats!