Jump to content

help!scores drop


meamea521
 Share

Recommended Posts

I do have a high credit balance on all credit cards, my scores were all over 600, if i pay my credit cards all off will my scores increase again?

tu ex eq

590 588 581

First priemier/200

ochard bank/250

target/290

new milliennium bank/310

only credit cards If I pay all of these off do you think my scores will every reach 700s. I have no collections

Link to comment
Share on other sites

Not sure that you can help but here is my situation.

For the past 6 months I have been feverishly trying to clean up my credit report.

To date the only negative info is an account that has been in collections since 2005 (have attempted to settle the debt for 25% of the total actual debt but to no avail - collection agency will not respond to the certified letter I sent) and a car loan (paid & closed since 2004) that was 30 days late twice.

To date the only positive info is an OPEN car loan account that is CURRENT & ON TIME since it was opened in May 2006.

To date I have 15 inquiries (the amount is so large due to 3 potential creditors making inquiries across all 3 agencies). Of the 15 inquiries, 6 of them are older than 12 months.

In October 2006, I went to FreeCreditReport.com to pull my credit report and score. Not knowing that the site was run by Experian, I bit and ordered it. To my surprise my "PLUS Score from Experian" was "701". The report did not give me a score for TransUnion and Equifax.

Today, I went to TrueCredit.com and enrolled in the "3-Bureau Credit Monitoring" for $14.95 which included credit reports and scores for all 3 agencies. To my dismay my Experian score has dropped to "579". There has been no other negative information added to my credit report since the last report I ordered in October nor were there any additional inquiries.

How the hell did my score take such a nose dive?:confused:

True Credit "3-Bureau Credit Monitoring" Scores today are:

TU 604

Equifax 589

Experian 579

Link to comment
Share on other sites

"...why did my score take such a nose dive..."

It didn't. Credit scores are calculations performed upon request. Each time the number is calculated, it may be different. You also obtained scores from two different scources. Each scoring program has it's own criteria and range.

Link to comment
Share on other sites

Got that Direred, but I guess what I am really trying to unravel is if MYFICO.COM can give me a clearer score then why doesn't the potential creditor go to MYFICO instead of EQ, EXP or TU? Not trying to be thickheaded just want to stop spending money on bogus credit score reports so I clearly know my standing when I begin applying for a home loan.

Link to comment
Share on other sites

Well, first of all, myFICO.com is a site exclusively for consumers.

The creditor pulls from the three bureaus, but their agreement with the bureaus is that they'll also get FICO scores with the risk profile of their choice (FICO has industry-specific scores in addition to the "classic risk" that's sold on myFICO.com).

The sites you pulled your scores from earlier are also consumer-only sites and aren't how a lender would get your scores.

Link to comment
Share on other sites

well I do not have any collection on my credit, I dispute all of them and they came off the only thing is this bk from 2000 and inquires(20). I even dispute what was in the BK and they came off Now I have this Bk on my credit report but everything I put in the BK I dispute. i have a lot of inquires from tying to get a home loan. I decide to put that on the back burner until later this year. I got these 4 credit cards to rebuild my credit since I did not have any. I max out all the cards christmas going to pay them all off the end of this month, i dispute the bk but only came off my experian report, going to try again with tu and eq. do you think the BK is keeping my credit scores from reaching 700s I wish i never file BK if i had knew about this site I would have never filed!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.