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Old 06-02-2008, 09:26 PM
 
24 posts, read 179,600 times
Reputation: 24

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I recently got my annual free credit report, and for an additional $7.95, I was able to receive my transunion credit score. I was given an 828, which they said was higher than 59% of the population. I am totally confused as to what this means. I was under the impression that 828 was extremely high, but apparently it's not. Is a transunion credit score different from a FICO score? If so, what does 828 really mean? And what good is getting a score if it's not really your score? I'm sorry if this is elementary, it's just very confusing, and I feel there's no good place to find all of this out. I would appreciate any help!
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Old 06-03-2008, 09:02 AM
 
Location: Hampton Roads, Virginia
1,123 posts, read 3,516,965 times
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That score is the same as your FICO. What it means is that you should have no problem buying anything you need.

However, I have seen high FICO scores for young 20's who really do not have a whole lot of credit, but what they have is good. An important piece of that is your length of credit history.

Read up on FICO and you will see what you need to continue good credit scores. Having a mix or tradelines is best - VISA, store cards like Macy's etc, a car loan etc. It can be very confusing.
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Old 06-04-2008, 12:14 PM
 
1,846 posts, read 1,824,623 times
Reputation: 2267
Post Possibly that more and more people's scores are tanking...

Quote:
Originally Posted by Jordan475 View Post
I recently got my annual free credit report, and for an additional $7.95, I was able to receive my transunion credit score. I was given an 828, which they said was higher than 59% of the population. I am totally confused as to what this means. I was under the impression that 828 was extremely high, but apparently it's not. Is a transunion credit score different from a FICO score? If so, what does 828 really mean? And what good is getting a score if it's not really your score? I'm sorry if this is elementary, it's just very confusing, and I feel there's no good place to find all of this out. I would appreciate any help!
Jordan, congrats! Your score is really high. The statistic they quoted you means that you are in, what I would say, the small group of individuals who still have high scores. Given the credit and mortgage turmoil nowadays, many people's scores have taken a huge hit...so, essentially, you belong in the 41% group whose hasn't. If your scores remains high, you may find it interesting to check back in six months to a year to see how much larger the "higher than" percentage number becomes.
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Old 06-04-2008, 04:47 PM
 
227 posts, read 785,377 times
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All 3 major credit reporting agencies have their own FICO score- Transunion, Equifax, and Experian. All 3 should be very similar to each other but they will vary slightly because they use different formulas and they may have different information reported to them.

828 is absolutely a fantastic score.
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Old 06-04-2008, 08:33 PM
 
24 posts, read 179,600 times
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But how can 828 be a fantastic score when it's only the 59th percentile? Does Transunion maybe use a different scale?
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Old 06-05-2008, 12:02 AM
 
227 posts, read 785,377 times
Reputation: 160
Ahh...you know, I just remembered that the 3 companies got together and developed their own scoring system which is a little different than the FICO. I bet that's what this is based on. It's called the VantageScore, and the range is 501-990, where the FICO is 300-850. That makes more sense. Still a very good score.

Experian | Consumer Credit Score | FAQ

This should help explain it.
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Old 06-05-2008, 12:27 AM
 
Location: LB/OC for now...
5,112 posts, read 12,122,186 times
Reputation: 1791
Quote:
Originally Posted by libbykt View Post
Ahh...you know, I just remembered that the 3 companies got together and developed their own scoring system which is a little different than the FICO. I bet that's what this is based on. It's called the VantageScore, and the range is 501-990, where the FICO is 300-850. That makes more sense. Still a very good score.

Experian | Consumer Credit Score | FAQ

This should help explain it.
this is correct. basically its a scam to get you to pay more money to them(not to degrade you.. i fell for it myself when i had to get my creditscore for my apt rental). you should be able to get your fico score from them with a little more work on their website
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Old 06-05-2008, 10:22 AM
 
24 posts, read 179,600 times
Reputation: 24
Thanks for all the help. It is infuriating that something as important as the credit score is so confusing and so difficult to find out. I still have no idea how to get my actual score. I assume that if I'm in the 59th percentile for the Vantagescore, I'd be somewhere above the median for FICO scores as well, around 740 or 750.
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Old 06-05-2008, 07:13 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,148 posts, read 8,316,400 times
Reputation: 5966
Quote:
Originally Posted by Jordan475 View Post
Thanks for all the help. It is infuriating that something as important as the credit score is so confusing and so difficult to find out. I still have no idea how to get my actual score. I assume that if I'm in the 59th percentile for the Vantagescore, I'd be somewhere above the median for FICO scores as well, around 740 or 750.
MyFico is closest. Do a search on the forums for "myfico". There will be a link..probably one by me....
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