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The only and safe way to get your credit SCORE is to go direct to Myfico and get it.
Most third parties give you a fako, a fake score and charge you for it and then sell your info off to others.
I just had to comment, because that is absolutely correct.
You can only get a FICO score from Fair Isaacs. Everyone else uses an approximation (since FICO uses a proprietary formula that to my knowledge has only been revealed once and that was to a federal judge ex partein camera).
That is why you get different scores from different sources, which is confusing to some people.
Quote:
Originally Posted by sp31
I'm a real person dude. College student, just asked a simple question.
You're a college student, so you don't really have a need to know your score.
The only time you need to know your score is if you're purchasing a home, business or seeking a business loan, and in the case of the latter two, this is your first attempt at a business and so you must rely on personal credit because you have no established business credit.
As a college student, you don't even have a credit score, unless you have credit cards and have missed payments, in which case there would be nothing you can do for the next seven years until those payments fall drop off and aren't reported. Otherwise, your credit history is too "thin" to have a score, and if you have obtained an credit cards recently, then they aren't "seasoned" and won't even be factored into your credit score.
Even if you're being denied credit, it would have more to do with not having a credit history than your credit score.
If you think you ought to be granted credit, but are being denied by places like JC Penny, Dell, Gateway or others who are quite lenient on granting first time credit, then you need a copy of your credit report, but you don't need your score. The only reason to get a copy of your credit report is in the event there is a judgment or eviction against you, or against someone else (maybe you were rooming) that appears and that is barring credit, but there would be nothing you can do about that except wait (a very long long time) or if it is erroneous file disputes with the credit reporting agencies to have the erroneous judgments, liens or evictions removed.
The only other possibility would be if you suspect Identity Theft, but you don't need your score for that either.
In any event, if you have student loans, your score will change as soon as they are reported.
There's a lot of really sad pathetic people who are obsessed with their credit score and they spend $1000s every year trying to tweak their score to get the "Perfect 800" and it's really sad (I used to moderate a debtor's forum so I know).
The only and safe way to get your credit SCORE is to go direct to Myfico and get it.
Most third parties give you a fako, a fake score and charge you for it and then sell your info off to others.
Go to Myfico and purchase your real scores.
Anything free has a catch and is not your real scores.
Do not confuse credit reports and credit scores.
While I agree that Anything free has a catch and is not your real scores. I am going to refute you. I worked in the credit card industry for 3 years and I am a third party consumer of credit reports (rentals). I would recommend that consumers go directly to the ftc.gov website or to Experian, TransUnion or Equifax.
There are only three companies in the country officially maintain consumer credit information.
Myfico may well be a reputable company, but on the internet You Never Know Again, ANY company that is NOT Experian, Equifax, Transunion has to get a copy of your credit information from one of the "big three" above.
Even if the company is reputable, there are points of risk :
people - needed to transfer the credit information and tabulate the score. The people may be programmers, clerks or accountants... computers - financial data is transferred by electronic signals and sometimes entire files over computer networks. I hope that's not too technical for everyone. A file can get lost, corrupted or intercepted while going over the network.
The Government's website Again...Federal Trade Commission ... The Federal Trade Comission directs consumers to Equifax, Experian or Transunion.
You can definitely pay a couple of bucks for copies of your credit file and/or score from the officially-sanctioned agencies. A small price to pay for the security of sensitive personal data.
So the score I got directly from Experian that also got me the other 2 scores from Transunion and Equifax is a fako score?
And since when had 800 been a perfect score?
Don't worry. The scores you got from Transunion, Experian and Equifax are real.
Equifax recently terminated their relationship with MyFico.com according to the link to Equifax's website below (I wish I knew how to get CD to stop obfuscating the URL): http://www.experian.com/ask-experian...myficocom.html
I don't have a TV, but I suspect that MyFico ran some commercials to have so many staunch defenders. But that doesn't change reality. As I wrote in the previous post, ANY company other than the "big three" has to get data from the "big three" to calculate their data.
Sooo, you might as well go straight to the source. According to Equifax's website which I have provided the link to: A misperception perpetuated by Fair Isaac is that the credit score consumers purchase on myFICO.com is the same score a lender sees and uses exclusively to make decisions. There are hundreds of scorecards used by lenders including various versions of FICO models, scores developed by the credit bureaus and other companies, and custom scores often built by the lenders.
Last edited by kinkytoes; 01-13-2011 at 12:55 PM..
There are only three companies in the country officially maintain consumer credit information.
No, there are actually more than a dozen.
There are 3 credit reporting agencies that track check data. There are several others that handle only rentals and evictions, a couple that track utilities and two that track medial credit.
There's also Lexis-Nexis and Choice Point who track your entire life, including friends, boyfriends, girlfriends, spouses, co-workers, family members etc etc.
If you can't remember the name of that beau you had a fling with years ago, just get a copy of your credit report from Choice Point or Lexis-Nexis.
There are 3 credit reporting agencies that track check data. There are several others that handle only rentals and evictions, a couple that track utilities and two that track medial credit.
There's also Lexis-Nexis and Choice Point who track your entire life, including friends, boyfriends, girlfriends, spouses, co-workers, family members etc etc.
If you can't remember the name of that beau you had a fling with years ago, just get a copy of your credit report from Choice Point or Lexis-Nexis.
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Quote:
Originally Posted by Sunny-Days90
The only and safe way to get your credit SCORE is to go direct to Myfico and get it.
Most third parties give you a fako, a fake score and charge you for it and then sell your info off to others.
Go to Myfico and purchase your real scores.
Anything free has a catch and is not your real scores.
Do not confuse credit reports and credit scores.
Agree. There are places on the web where you can get free fako scores but they aren't scores that are used by any company, and, those scores can vary as much as 100 points from a true Fico score. So, without knowing your true Fico then you wouldn't have a clue how close the fako is.
There are many Fico promo codes out there where you can get your Fico scores at a discount, but, if you can't afford to buy your scores even with the discount then you might go to MyFico and use their score estimator. The score estimator probably won't give you your exact scores since it's just a basic program, but if you plug in the correct info then you should get somewhere in the ballpark of your true scores.
Quote:
Originally Posted by Sunny-Days90
You would have to apply for a loan to get it and in most cases they wont share with you the score.
Since 1/1/11, a lender has to give you either your score or a risk based pricing notice if you're denied, approved but with less than favorable terms, etc., etc. In general it would be more cost effective for the lender to send the scores rather than the risk based pricing info.
Good info here. As a college student you will likely have a high score but its is b/c you don't have much credit. Get a card and use it so you start a long credit history which is important for your score. Pay on time, can't say that enough
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