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i would be comfortable taking someone in the 725 range or higer assuming we are talking a fico score and not the other ones out there.
where did you get a free one? usually you have to pay for a fico score.
there are other ones out there and i hope that not what you are refering to as thats quite low by other scores. for a vantage score 738 is 3rd tier and low.
I went to creditkarma.com I'm not sure if it's Vantage or fico to be honest. I entered the information and it came up with a box on the right hand side of the screen that had how much I owed in debt and said "Your score is: 738" and had a little bar underneath that said it was in the good range so I would assume it would be a Fico score if 738 is low for a vantage score.
they are not fico, thats their own proprietary basically meaningless score in the sense you cant compare to the industry standard . thats why its free.
do yourself a favor and get yourself your real fico score. i bet its around 50 points less then the one you got ,maybe more.
typically though they both run to 850 but fico is usually around 50 points less on average. thats not so hot if thats where you fall it.
Geez do I really get hit that hard just for being late with 5 or 6 student loan payments while I was in the process of relocating to a different country? And they weren't even that late, maybe a couple of weeks.
I know people who have defaulted on student loans and they have nice apartments and didn't have any trouble...why am I getting screwed so bad??
transunion has different formulas for credit scores, they have a vantageScore, the transRisk score which is what Credit Karma uses and a fico score.
the leader is fico.
the difference is the weighting and calculations used to compute your score as well as the sources that report to them. if your fico score is in the high range you can be sure your good to go. those other scores are not used or accepted as widely.
we only use fico scores when considering tenants. we dont go below 725 ... we had only 2 bad tenants in 25 years out of so many i cant even count.
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Last edited by mathjak107; 04-06-2012 at 04:37 PM..
Well my score from the last time I had it professionally checked (as in paying for it and going over my finances with a professional) it was 754, and that INCLUDED those delinquent student loan payments. I haven't done anything that would either help nor hurt my credit in 4 years because I've been living in Chile so I can't imagine it would have plummeted as low as you're saying it has.
And if it has just because of those student loan payments, then that's absurd. I know people who have defaulted on loans and have credit card debt up to the ceiling (I have ZERO credit card debt, absolutely NONE) and they can get good apartments and have nice cars and all the rest of it, why do I get screwed for such a tiny minor little petty thing as being late with a few student loan payments to the point where it puts my being able to even get a 2 br apartment in Queens in jeopardy?
Either that site IS showing my FICO score, or you don't know what you're taking about (no offense), that site doesn't know what it's talking about, or the system really just does suck that much that people who are responsible and do the right thing get screwed. Pisses me off. There's no way it could have plummeted to a 680 something, no way.
credit carma is not fico thats a given. its exactly what i said it is ,transrisk is what the score is called.
no one can guess what it will be under fico ,you have to check.
but if you google fico vs transrisk most people say their score runs around 50 points lower with fico even though they both use a max of 850.
But that doesn't make any sense to me, how do I lose 50 points when I am absolutely 100% debt free (made sure I was before I left the country) and haven't done anything that could possibly even influence my credit score for four years?
again im not saying its your case but here is why:
the reason there is a variance is because companies that issue consumer credit dont report to every credit scoring agency out there ,they only report to one or some.
there are things listed even with the most popular fico ,that dont appear on each others reports since your fico score is calculated by 3 fico reporting companies .
the less popular scoring systems have way less companies reporting to them.
im not saying its the case but its possible your negative information may not even be reported on vantage or trans-risk.
you must check all three fico reporting agencies
equifax
trans-union
experian
3 years ago we had an issue with identity theft . we had a clean bill of health and great credit score on 2 out of the 3 fico reporting companies.
experian had a lower score and showed an un-paid utility bill to keyspan.
turns out someone used my wifes info to open up their utility account for their rental.
it took 6 months of investigaton by keyspan but we finally got it off.
if we only went by 2 out of the 3 or used trans-risk or vantage we would have thought everything was fine.
another reason is the different scoring systems use different numbers. a top score on vantage is 990 , a top score on fico is 850. you can see 850 on fico is a big difference from 850 on vantage.
the different scoring systems weight different things about your credit differently. trans-risk may count a late payment as 10% of the score, and credit utilization as 50%. fico may count a late payment as 30% and credit utilization as 40% . the weightings are kept secreat to an extent but the point is they will give different results.
the only score and weighting that counts is the one someone interested in running your credit chooses to use. since fico is the most popular by far you want to check the 3 fico scoring companies.
the only way you will know how you look is by going to the big 3 and stop looking to save the 45 bucks by going to these free less popular scoring systems.
Last edited by mathjak107; 04-07-2012 at 04:47 AM..
Ok then, so if I went to one where I had to pay for it then it would probably be the same as it was, seeing that I haven't done anything that would bring it down and it's probably just a bad estimate from a crummy website?
again i cant answer that. what if the score you got from trans-risk doesnt have your late payments reported to them and fico does?
just run them and stop wondering
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