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 Posted: Wed Sep 14, 2005 8:23 am Subject: credit scores..need help...new to this forum |
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hello friends,
im new to this forum and have just got a credit card.. need to monitor my credit history .....
i would like to know the difference between FICO nd the regular scores provided by equifax, transunion and experian. at annualcreditreport.com a free credit report is available. and at myfico.com the credit report costs money. i am unable to understand the difference and would request your advice pls..
looking fwd to ur replies.
thank you!!
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imconfused
Joined: 14 Sep 2005
Posts: 6
Debtcc Points: 356
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| Posted: Wed Sep 14, 2005 8:32 am Subject: |
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HELLO! And welcome to the forums!
Some states offer you a free credit report from each of the three major bureaus once a year. Check with your state to see if they provide this service (or post here to ask).
FICO is Experian's model for credit scoring. Each of the three bureaus have a slightly different scoring system which means each will provide you with a different credit score. It is recommended to view all three of them at least once a year. Sometimes there is an entry on one, but not all ... and sometimes there are inconsistancies.
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cryptowizard
Joined: 09 Sep 2005
Posts: 121
Debtcc Points: 5081
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| Posted: Wed Sep 14, 2005 8:40 am Subject: |
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thank u for the reply...
as i understand, if i view the experian credit report, it the FICO report. pls correct me if im wrong.
in case i understood the point correctly, why is the FICO report so hyped up ... and the other 2 models for equifax and transunion do not seem to appear anywhere.
so, if i check my credit reports from EX, EQ and TU, i shud not be worried abt looking at FICO scores, since Experian report provides scores that are FICO scores, wud i be rite in saying that..
thank u again..
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imconfused
Joined: 14 Sep 2005
Posts: 6
Debtcc Points: 356
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| Posted: Wed Sep 14, 2005 9:25 am Subject: |
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Sounds right to me.
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cryptowizard
Joined: 09 Sep 2005
Posts: 121
Debtcc Points: 5081
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