Credit Scores & Reports

[pcslookout]

kranky read my sig.

 

[ChaoZ]

Originally posted by: pcslookout
kranky read my sig.

Can someone just ban this guy.

 

[shocksyde]

Checking your reports OR your scores has NO EFFECT on your credit. For the love of God, where do people get this information????

 

[overst33r]

Originally posted by: shocksyde
Checking your reports OR your scores has NO EFFECT on your credit. For the love of God, where do people get this information????

I was told by my loan officer at my bank that anytime you check your score for a loan, credit card, etc. it has a small negative effect and lowers your score a bit.

 

[edro]

Originally posted by: mariok2006

Originally posted by: shocksyde
Checking your reports OR your scores has NO EFFECT on your credit. For the love of God, where do people get this information????

I was told by my loan officer at my bank that anytime you check your score for a loan, credit card, etc. it has a small negative effect and lowers your score a bit.

Yes, whenever a loan officer or lending company check your score it does... not when you pull your OWN report.

ALso, all pulls of credit of the same type are lumped together for a month or so period.
EX. if you are shopping for a car and you have your credit pulled 5 times from different car companies all within a month's time, it counts as one pull for an auto loan.

 

[The Boston Dangler]

MA state law, and many others now, says you get 1 free credit report from each of the 3, per year.

 

[edro]

Originally posted by: zoiks

Originally posted by: HyTekJosh
creditmonitoring.citi.com

Yep. 10 bucks a month for all 3 scores and reports.

$12.95 now apparently... Free first month though.

 

[Special K]

Here's a good link on FWF about credit scores:

link

 

[kranky]

Originally posted by: mariok2006

Originally posted by: shocksyde
Checking your reports OR your scores has NO EFFECT on your credit. For the love of God, where do people get this information????

I was told by my loan officer at my bank that anytime you check your score for a loan, credit card, etc. it has a small negative effect and lowers your score a bit.

I guess I could be skeptical, and say that it would be an advantage for a loan officer to deal with customers who don't know what their credit score is, so he might tell customers not to check their own reports/scores, but I don't think I will.

 

[pcslookout]

You really don't need to know your credit score unless you are getting a new home loan, credit card, or home loan to see if you will be approved and at what rates. I wonder if anyone here has a credit score of 800 or if its even possible to keep a credit score that high for long.

 

[Old Hippie]

I wonder if anyone here has a credit score of 800 or if its even possible to keep a credit score that high for long.

809 as of 2 weeks ago. :thumbsup:

 

[smack Down]

Originally posted by: pcslookout
You really don't need to know your credit score unless you are getting a new home loan, credit card, or home loan to see if you will be approved and at what rates. I wonder if anyone here has a credit score of 800 or if its even possible to keep a credit score that high for long.

Credit scores are a joke. My score was around 804 then I opened and used a zero interest credit card (why not it is free money) and my score dropped to under 700. I have no idea how being smart with money makes me a greater risk to lend to but whatever.

 

[FoBoT]

http://www.pics.bbzzdd.com/bet...ers/FoBoT/deliver1.jpg

 

[Nik]

TransUnion (one of the big three credit agencies) owns and operates http://www.truecredit.com

 

[kranky]

Originally posted by: smack Down

Originally posted by: pcslookout
You really don't need to know your credit score unless you are getting a new home loan, credit card, or home loan to see if you will be approved and at what rates. I wonder if anyone here has a credit score of 800 or if its even possible to keep a credit score that high for long.

Credit scores are a joke. My score was around 804 then I opened and used a zero interest credit card (why not it is free money) and my score dropped to under 700. I have no idea how being smart with money makes me a greater risk to lend to but whatever.

It's easy to understand. The score is intended to represent your relative level of credit risk to a lender. You acquired more debt, and more debt is a known risk factor. The amount of debt, length of credit history, number of open accounts, amount of credit in use all factor in.

Did you max out the one card you got? With a short credit history? And few established accounts? If all that is true, it makes sense.

 

[krunchykrome]

Originally posted by: edro

Originally posted by: zoiks

Originally posted by: HyTekJosh
creditmonitoring.citi.com

Yep. 10 bucks a month for all 3 scores and reports.

$12.95 now apparently... Free first month though.

is that website legit? try clicking on "enroll"