Best/least shady credit report?

[chimaxi83]

Free credit sites like Credit Karma or Credit Sesame only give you a score calculated by the particular bureau's own internal algorithm. It's not a FICO score, and in most cases, it's nowhere near your true scores. Don't ever trust those scores. What those free services ARE good for though is monitoring activity on your reports. Accounts, balances, inquiries, etc. Credit Karma updates VERY fast, and I get an alert from them at the same time as the alert from my paid monitoring service. I use Credit Check Total.

Also, the score some of you are talking about from Capital One is not a FICO score. It's TransUnion's own "New Account Model" scoring algorithm. Almost every other credit card company gives you an actual FICO.

The reason FICO can drop a bit when an installment loan is paid off/closed is because FICO scoring takes debt type into account. A mix of revolving (credit cards) and installment (car, house) is ideal for scoring purposes.

 

[yh125d]

I don't know what you're on about, both creditkarma and creditsesame are remarkably accurate. Mine and those of several people I've gotten to use it are pretty much always within 10 points of the real score

And yes the Cap1 isn't a FICO, but it has been similarly very close to the real number for me

 

[chimaxi83]

I don't know what you're on about, both creditkarma and creditsesame are remarkably accurate. Mine and those of several people I've gotten to use it are pretty much always within 10 points of the real score

And yes the Cap1 isn't a FICO, but it has been similarly very close to the real number for me

Ok. That's your experience. Mine aren't similar, with FICO scores being 83 and 92 points higher on TU and EQ FICO, respectively. You're the exception to the rule, and it's kind of well known that free site scores aren't really usable. Non FICO scores like what CK and CS use, Vantage 3.0, being similar to FICO scores are purely coincidental. Again, the information and reporting are accurate on the free sites, absolutely. Just not the scores.

 

[TheGardener]

There are different scoring systems out there that lenders use. FICO is the best known.

There is no need to pay for your credit report (without a credit score) from Equifax, Experian and TransUnion. Spread out requesting one of these 3 free reports to an interval of every 4 months. If you believe that you need it more frequently, then paying for it is what you want to do.

 

[stlc8tr]

Corrected me? Are you serious?

You provided ONE link to support your assertion while I had several to support mine. Here they are again, just in case you "missed" them.

http://www.carfax.com/blog/credit-score-for-car-loans

http://www.bankrate.com/finance/auto/check-your-credit-first-1.aspx

http://www.bankrate.com/finance/mortgages/how-credit-scores-impact-your-mortgage-rate-1.aspx

https://www.credit.com/credit-scores/what-is-a-good-credit-score/

Fine, I said I was going to drop it but I guess I was wrong.

http://www.bankrate.com/finance/credit/what-is-a-fico-score.aspx

https://blog-stage.mint.com/credit/credit-score-09072010/

http://money.cnn.com/2013/08/19/pf/credit-score-killers/

http://www.cbsnews.com/news/want-a-mortgage-is-your-fico-credit-score-780/

 

[Svnla]

Fine, I said I was going to drop it but I guess I was wrong.

http://www.bankrate.com/finance/credit/what-is-a-fico-score.aspx

https://blog-stage.mint.com/credit/credit-score-09072010/

http://money.cnn.com/2013/08/19/pf/credit-score-killers/

http://www.cbsnews.com/news/want-a-mortgage-is-your-fico-credit-score-780/

Ahh, another poster that could not keep his words. Color me shock. NOT!!!

Here you go.

http://www.carsdirect.com/auto-loans/what-credit-score-do-you-need-for-an-auto-loan 740

http://your650score.com/650-credit-score-auto-loan/ 700

http://www.thesimpledollar.com/best-auto-loans/ 720

https://www.creditkarma.com/faq/what-is-a-good-credit-score 750

http://www.fool.com/investing/gener...good-credit-score-number-and-why-is-good.aspx 720

 

[stlc8tr]

Ahh, another poster that could not keep his words. Color me shock. NOT!!!

Here you go.

http://www.carsdirect.com/auto-loans/what-credit-score-do-you-need-for-an-auto-loan 740

http://your650score.com/650-credit-score-auto-loan/ 700

http://www.thesimpledollar.com/best-auto-loans/ 720

https://www.creditkarma.com/faq/what-is-a-good-credit-score 750

http://www.fool.com/investing/gener...good-credit-score-number-and-why-is-good.aspx 720

Wow, some of those links don't even support your point so I'm not sure why you are linking to them.

"Lenders, however, can each have different standards for what they consider to be a good credit score, so it‘s important to keep building your score to receive the most favorable interest rates and highest rates of credit approval."

"On the other end of the spectrum, to get the best mortgage rates, you'll probably need a score of 760 or higher, so that would be the "excellent" realm in this case."

I'm getting tired of this so I'll just leave these links supporting FICO 780 and really sign off this time since you'll never admit that you were wrong.

http://www.consumercredit.com/about-us/media-mentions/5-habits-to-get-800plus-credit-score.aspx

https://www.mainstreet.com/article/...actually-get-you-not-much-it-turns-out/page/3

http://www.creditsesame.com/blog/7-habits-of-the-credit-elite-reaching-the-800-credit-score-club/

http://www.foxbusiness.com/personal-finance/2011/08/11/fico-score-over-780-is-good-enough/

http://money.usnews.com/money/blogs/my-money/2011/03/02/how-your-credit-score-affects-your-mortgage

 

[Svnla]

Wow, some of those links don't even support your point so I'm not sure why you are linking to them.

"Lenders, however, can each have different standards for what they consider to be a good credit score, so it‘s important to keep building your score to receive the most favorable interest rates and highest rates of credit approval."

"On the other end of the spectrum, to get the best mortgage rates, you'll probably need a score of 760 or higher, so that would be the "excellent" realm in this case."

I'm getting tired of this so I'll just leave these links supporting FICO 780 and really sign off this time since you'll never admit that you were wrong.

http://www.consumercredit.com/about-us/media-mentions/5-habits-to-get-800plus-credit-score.aspx

https://www.mainstreet.com/article/...actually-get-you-not-much-it-turns-out/page/3

http://www.creditsesame.com/blog/7-habits-of-the-credit-elite-reaching-the-800-credit-score-club/

http://www.foxbusiness.com/personal-finance/2011/08/11/fico-score-over-780-is-good-enough/

http://money.usnews.com/money/blogs/my-money/2011/03/02/how-your-credit-score-affects-your-mortgage

Reading skill is good to have. From my links, I found:

#1 =

850 - 740: Excellent credit score - 3.2% interest rate (on average

#2 =

720-850 3.23% $445 $1,346

I can't help it if you can't read.

Edit: Here is another one.

Over 700 is largely considered a good score, and over 750 is considered excellent.

http://www.businessinsider.com/every-adult-should-know-this-about-credit-scores-2014-5

Are you leaving for good this time or are you LYING and WRONG, again? :thumbsdown:

 

[AznAnarchy99]

http://www.creditcards.com/credit-card-news/free-credit_scores-cards-1270.php

I get mine from my Citi and Amex.

 

[ultimatebob]

Ahh, another poster that could not keep his words. Color me shock. NOT!!!

Here you go.

http://www.carsdirect.com/auto-loans/what-credit-score-do-you-need-for-an-auto-loan 740

http://your650score.com/650-credit-score-auto-loan/ 700

http://www.thesimpledollar.com/best-auto-loans/ 720

https://www.creditkarma.com/faq/what-is-a-good-credit-score 750

http://www.fool.com/investing/gener...good-credit-score-number-and-why-is-good.aspx 720

I think that it depends on the lender and credit agency, but most places consider 720 and above to be "good" credit and "excellent" credit to be anything above 760.

Either way, anything above 780 is only good for bragging rights. That score will be toast if you're late with a single payment, anyway.

 

[Svnla]

I think that it depends on the lender and credit agency, but most places consider 720 and above to be "good" credit and "excellent" credit to be anything above 760.

Either way, anything above 780 is only good for bragging rights. That score will be toast if you're late with a single payment, anyway.

Exactly, that's why I said this in my previous post.

...don't lose any sleep over it as long as you met the minimum/threshold. Just follow good financial practice (pay on time, NEVER late, less than 30% credit utility, spread your credit into different categories, etc.) and your scores will go nowhere but up.

Some people are so obsessed with credit score(s) that are not even funny. And look at another poster (smithbret) who works in the auto lending industry said in post #38.

That's the problem. There is no real standard across the board. The scores are just a number and, quite frankly, not consistent. When I can pull Equifax and get 602 on the same person that pulls a 712 on Experian then the system is broken. People don't know this and it creates a bunch of unnecessary concern. That's why I tell people to just pay their bills on time and just watch the actual reporting.