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Credit Score discrepancies
I know that different credit reporting agencies use different scoring tools. I had read that even though the scores may be different they are usually in the same range. Now according to CK my scores are 711/729 that near 20 points has been consistent. My Creditwise score is 711. But I decided to check the Discover FICO and it's at 685? That's almost a 40 point discrepancy. I've been working on my credit for the better part of a year, I have 1 credit card with low utilization, no late payments. The thing that is hurting me is length of credit since I payed off my student loans.

Now I was looking to get a 2nd credit card but now I'm concerned with my score that the 685 score will yield me much worse rates than my 711/729 score. How am I supposed to know what cards to apply for if my score is so radically different?

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This is an issue for those like yourself that boarder on a level like good to great credit score, and can make a difference in interst and credit given.  Unfortunatly there is not much anyone can tell on this until you pull the trigger and apply.  You could ask the compnay what exact model they use for scoring, but most of the time you deal with a person who would have no idea and they could not help you. They give the SSN and get the score from some nebulous in their company.  I have seen over 40 points myself from here, to car, to CC to home loans, and it will swing both uppward and downward form the Vantage scores we can get here.

With a 685 I would say as long as there are no recent negative remarks on your score you would get approved for most common CC, but would not try for highend specialty ones.  They normally look at 750+.

Remember that getting a new card will lower yourscore with inquiries and length of credit, but will help your score in the liong run as long as you maintain good responsible usage.

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First off, you should only be concerned with FICO scores because most lenders use a version of FICO. The reason that you see the differences in scores is because of different scoring models and versions. That is normal for everyone. As said, FICOs are the ones that matter, so put your focus there. Vantage scores that you get here, do not factor in closed accounts to the "average age of accounts" but most FICO models do factor in closed accounts, so your credit history will probably be longer with FICO models than on here. You said that you only have one credit card, that is a problem. The basic credit building tools are three cards and one installment loan, that is just the basic tools. I am not telling you that you should run out and start apping, but I do advise that you get another credit card. Most people actually see score increases with FICO models upon getting their first and second credit cards. This is not always the case, but happens most of the time. Results will vary, be forewarned. When looking for another card, use the "preapproval links" at the credit card websites to see what you are preapproved for, sometimes this will even tell you at what rate you would be approved for. However, you are no where in reach of attaining a card with a great interest rate, that will be a long ways down the road. Try to pay your cards off every month, then you don't have to worry about the interest rate.

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