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Credit Score Question

I have always somehow assumed that freecreditreports.com is a scam. I've never checked my credit reports. But both a mortgage in 2008 and car loan in 2011 went through smoothly, so I'm fairly sure I have solid credit.

but yeah, I'm not going to give my SSN to something called "quizzle" because that just sounds sketchy.
 
RollTheQuad06 said:
I have always somehow assumed that freecreditreports.com is a scam. I've never checked my credit reports. But both a mortgage in 2008 and car loan in 2011 went through smoothly, so I'm fairly sure I have solid credit.

but yeah, I'm not going to give my SSN to something called "quizzle" because that just sounds sketchy.
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You basically said "I don't want to be informed about my credit history because it sounds sketchy."
 
RollTheQuad06 said:
also I thought checking your credit report made your credit worse.
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Only hard inquiries impact your credit. Banks, credit card applications, car loans etc... are hard inquiries IIRC.

Quizzle(just tried it. Awesome!), Credit Karma, Annualcreditreport etc... don't effect your credit at all. I think these are called soft inquiries.
 
I am with TWDeac on this one. It's hard for me to fathom that access to your credit score is not free whenever you want it. It is such a huge part of everything we do now.

It's also crap that there is no clear information on how it is calculated at the three bureaus, and then you're still at the mercy of a bank using its own formula.

I ran into a similar situation when I bought my corvette. The dealership wanted to beat my rate from the credit union, so I gave them the opportunity and they came back and said the best anyone would be able to do was 7 percent because my Beacon score was so low. They showed me the report and the credit score was more than 100 points below what I had just seen on my equifax score report.

Obviously I think this was just shady F&I guys at the Mercedes place trying to buy some extra money into the deal, since they immediately said they could "take a chance on me" and knock it down to 6 percent. I called them out for being dishonest, but the deal on my Corvette was just too good, so I went to the Credit Union and got a check and financed it through them with no problems at all.

Hopefully the mortgage lenders wouldn't be yanking your chain and trying to lock you into a loan worse than your score dictates, but I guess it wouldn't shock me.
 
Quizzle gives me a higher rating than Credit Karma. I'll take it.
 
I applied for a rewards credit card the other day and got rejected on account of my credit score. The bank gave me the score they pulled, so I checked with that agency (Experian, I think). I have made every credit card and loan payment on every active account. I was pretty bummed about my score, but I looked up average score-age charts and saw that I'm on the higher end for my age.

What's the logic behind having a credit check hurt your credit score?
 
I think that you're on the hunt for credit, thus are ready to make purchases, thus will buy too much stuff, go broke and the world will cease to exist as we know it.

Something like that, anyway.

seventwofour said:
I applied for a rewards credit card the other day and got rejected on account of my credit score. The bank gave me the score they pulled, so I checked with that agency (Experian, I think). I have made every credit card and loan payment on every active account. I was pretty bummed about my score, but I looked up average score-age charts and saw that I'm on the higher end for my age.

What's the logic behind having a credit check hurt your credit score?
Click to expand...
 
We sold our house Christmas eve and are looking for a new one. My wife and I both have good credit, but mine is better (naturally, hehe). When we went to the loan adviser, she suggested that only I should be on the loan (my wife is 25% Realtor and 75% mom (never let her know i said that)). I thought that was strange, but if it gets us a better rate, who cares. She will be on the title and all.
 
Just used quizzle, and saw that I have an excellent rating. I've also got a call into my bank to see about refinancing my mortgage. The rates are almost 2% lower than what I originally financed it at.
 
I'm really surprised that someone hasn't mentioned this already:

It's almost certainly due to the fact that your bank used your wife's FICO score while one of the three credit bureaus used their own modeling called 'VantageScore.' For example, the highest credit score you can get on FICO is 850. The highest you can get with a 'VantageScore' is 990.

Also, I'm not discrediting some of the other responses because they could be true but I am confident that the vast difference in her scores' numbers is because of the different models used to run her credit inquiries.
 
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Quizzle tells me my credit is excellent. NICE.

But I have two "closed" accounts from 2008 that I never opened or closed. One with BoA and one with Chase. Should I take any action on them? They are both "closed" and seem to have always been in good standing...
 
Fine, I looked at Quizzle. Glad I'm still excellent.

I did have a worried moment when I saw an unexpected account with open balance, but then I remembered I still have a card from an account belonging to my parents.

So I have one card I haven't used since 2008, with just $2000 credit limit. I will never use it. Should I close it just to get rid of it, or keep it open as proof of my responsibility with not maxing out my available credit?
 
I've always heard that you should keep it open to increase your available credit limit.
 
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