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3 Most Recent Questions in Credit Scores
I'm sure my score was over 800. What dropped it to 758?
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Asked by SAMSRUN
under Credit Scores
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Under the "How Lenders View Your Credit" my score (740) falls in the "Good Category." On the "What is a good credit score" question, it's considered "Excellent." Why the difference? Thanks.
anniebaby 1 year ago
I have the same question as anniebaby. My score of 735 is listed merely as "good" on your Report Card. Isn't that better than good?
Another question: TransUnion just dropped my score abruptly from 759 to 735 based solely on 1 hard inquiry to my credit report. Since that hard inquiry resulted in my getting a new credit line and dropping my utilization from 59% to below 40%, shouldn't that have resulted in an _improvement_ in my score? Or at least not such a drastic drop? Thank you.
Clairissa 4 months ago
Credit quality is in the eyes of the beholder. Two year ago that was an excellent score but today many lenders are taking a closer look at credit quality. As for the inquiry, it normally stops affecting your credit score in 2-6 months. You should see it bounce back soon.
CK Moderator
Either way anniebaby your credit score of 740 should soon be at 750 or better which will qualify you across the board!
Waddy 11 months ago
unless they drop your score by lowering your avilable credit line to keep you paying high interest rates.
They love doing that and the feds don't care.
we need to vote people in who care about the little person.
letsmakeadea 5 months ago
Hate to rain on everybody ,but recently i went on to experians site and they no longer use fair isac scoreing system.I have a 740 score with them and they only rate me as a low c rating and anything under 730 is rated as a d .And im reading that transunion and equifax are getting ready to use the same system as experian if so a 740 score is no longer good . they claim a 840 to 990 is good.In all sounds like a big scam to me to keep loan rates high.
turbosb2 10 months ago
That is the Vantage score. It is not a "rip" just another system with another scale.
CK Moderator
600-849 IS GOOD AT EXPERIAN
YEABUDDY 1 month ago
Do you happen to know why if the exact same information is included in calculating credit scores? For example, the exact same data is reported on all three of my reports, but the range in scores varies by more than 150 pts. For example, my Experian score is 760, the Equifax is 695, and the TransUnion score is 617. My oldest account is 10+ yrs old, and except for one acct which shows as delinquent (and which I am disputing) the remaining 11 accounts are all in good standing and have been for more than 7 yrs. In addition, I am using about 40% of my total available credit. Each time I apply for credit and the creditor checks TransUnion, my application is rejected but if the creditor checks Experian or Equifax, I don't seem to have a problem.
KrysBee 9 months ago
That is strange. Are you getting the scores from the same source? In my experience, there has to be something different with the data. I don't recall ever seeing a 143 point different with factual data.
CK Moderator
wow! why so much descrepency?
munisa 8 months ago
I see the same issue for the credit scores. Seems like trans union is the lowest on mine also. I know you should only be using 20% of your total credit. That makes a differerence. Also I know that the more you apply for credit makes scores go down at least 7 pts if not more. It surely is a stupid game, got to have credit if you don't have the cash to buy big ticket items and than paying off all credit cards and never using them causes credit score to plummet!So it's basically a game , pay cash have no good credit score, pay credit and pay on time and keep it to no more than 20% and scores goes up! It's Our choice.
yoakum66 3 months ago
seems to me that paying down ones own debt will bring down THE score. i own my truck and my bikes,used cash. payed off my house this year, 13yrs early. and have money in my checking/savings/cd fund and owe no one nothing. and alls i get is a score of 686 or FAIR. and to think of all the money i saved just paying off my house. their game and rules i guess. i'll stick with cash and just keep buying rare gold coins, worked for me.
hpsteam 8 months ago
I viewing my credit history on this site it states 15 years of history. I have maintained open accounts for 35 years. Credit Karma rates me as average. This appears to be a deficiency. Last month I had a 795 score, this month 794. Hard to figure out...
foobar2 7 months ago
That is an excellent score. Based on your comment, perhaps you have an average number of open accounts.
CK Moderator
Are the credit scores accurate?
MEGS1965 7 months ago
We currently pull credit scores from TransUnion
CK Moderator
On your listing as to what the credit scores mean, whether they are fair or good ect., you have 640-719 listed as good. Yet when I look at my credit score which is 699, you say that it is fair. So why do you say it is fair and not good?
joefrogcool 6 months ago
Ratings are constantly in flux based on lenders and the economy. We will review our ratings to ensure more consistency in this credit environment.
CK Moderator
Why is my credit score 724 here and 695 on the truecredit website for transunion? And why is a 724 here considered a B, where a 695 is considered a D? If I needed to get a bank loan, would they check this website or truecredit? How do I know which credit score is right?
Thanks
mjb100 6 months ago
As of Jan, 2010, TrueCredit moved to the Vantage Score system which differs from our system. Both score are right although, there is seems to be a very large discrepancy in the relative range. Are you sure both scores are the most recent?
CK Moderator
the credit folks are working a monoply on people to charge them high interest rates, it will come back on them one of these days when people get fed up and pull all their money out of the banks and rip up their credit cards.
I think the feds sould step in and place more regulations these crooks for the wait they scam people out of their hard earned money.
letsmakeadea 5 months ago