A few Questions about credit report!

[nutshell143]

Ok we were discharged from our chapter 7 in October. Right now I am concentrating on one report at a time. I started with me and Experian.

I had used IdentityGaurd to get the initial 3 reports and scores. My scores were EQ 544, EX 495 & TU 533 on 9/7/07. Then I decided to try Experians website through FreeCreditReport.com. My score on there was A LOT different! It had my score at around 541 with Plus Score??????

So I decided to apply for a loan at Prosper since you had to have a 520 through Experian. Prosper declined it stating that I had below a 520????

I waited a month and then a few days ago I purchased a new report and it said that now my Plus Score was 561 & my Plus score Tracer was 544 (as of 11/24/07). So once again I applied at Prosper and once again they declined saying I was below 520??? What is the deal here can it be off that much?

I have disputed several things on my report because they were not showing up included in the Chap 7. Experian fixed most of them or deleted them but they came back with 2 remain. I am again disputing those.

Here are my questions that I hope someone can help me with. I am trying really hard to rebuild our credit right now!

1) What the heck is IIB that I keep seeing on here?

2) I keep seeing people talk about getting inquiries off of their report. Can someone please explain to me step by step how they are accomplishing this? I have over 20 inquiries on my Ex report alone from when we were trying to buy a car this summer (we got the car). I read somewhere that if I keep pulling my report it makes the other inquiries drop off is that true?

3) We are having a really diffucult time getting credit extended to us and that is why I have been watching my score and checking on creditboards to see who pulls what database but it is hard when I keep seeing my score and then getting declined because the score they are getting is so different! We filed on so many cards Orchard, Cap1, 1st Premier, Merrick, HSBC.....so where can we turn for this? We are trying to reestablish I opened a Crown Jewelers account but I know we need 1 credit card......HELP!!! Secured is not something that we really want to do at this point.

4) I am willing to cancel Identitygaurd and freecreditreport if someone can recommend a GOOD all in one true reporting score company that does not charge an arm and a leg!

Anyway sorry this was a little long and I know I have more questions but this will help me get started in the right direction! We are dead set on getting things cleared up and reestablishing ourselves.

[rrockinggramma]

go to myfico.com. My scores there were TU 556 and Experian 544. Didn't have enough to pull Equifax yet but will soon. You might have to get a secured card first and if that is the case, go you your local bank or credit union to begin the rebuild.

[rrockinggramma]

IIB is included in Bankruptcy, zero balance. You want everything to say that.

[nutshell143]

rrockinggramma thanks for clearing up that IIB! So myfico.com is pretty accurate for true scores then? Because if so I am going to cancel the other 2 companies and use just that one. I have read about it before but I just want others opinions before I go and switch it!

What about getting inquiries off? I tried for a credit card the other day and one of the reasons that I was declined was because of inquiries.

Also, if I pull through myfico.com can I dispute off those reports or do I have to actually go to each agency and get their reports to dispute?

[Boscoe]

rrockinggramma thanks for clearing up that IIB! So myfico.com is pretty accurate for true scores then? Because if so I am going to cancel the other 2 companies and use just that one. I have read about it before but I just want others opinions before I go and switch it!

What about getting inquiries off? I tried for a credit card the other day and one of the reasons that I was declined was because of inquiries.

Also, if I pull through myfico.com can I dispute off those reports or do I have to actually go to each agency and get their reports to dispute?
_______

Ok Nutshell - here is the deal. Most lenders use FICO scores to determine whether or not to extend you credit. All other sources are not scores used by lenders, these are commonly referred to as "FAKO" scores. Use them only to track relative improvement, but these are not the real scores. As that lender told you, your score was below 520, FICO score that is.

You can only purchase the FICO scores through myfico.com. You CAN dispute off of these reports, or you can do it directly on line with each of the 3 credit bureaus.

As far as the inquiries go, they are not counted in your score after 12 months, so I would try to limit new inquiries and let these age off. Sounds like you have bigger fish to fry first.

[nutshell143]

Thanks Boscoe! I looked at myfico.com and it shows just Equifax? I did not see where I could get all 3 reports and scores!

Also, I know that the lenders are geting the true scores but the scores I had from Experian were actually from Experian. They have 2 scores on there one is a Plus Score and the other is a tracking score?? I am still trying to figure that one out. So if I got these scores from Experian they still can be that inaccurate from what the lender was getting? I know Prosper requires a 520 and Experian had my scores a 561 or 544 depending on which one you look at on their site. I am a little confused on that if I actually went through them to get an accurate score!

So if I go with myfico.com these are the actual scores that the lenders see? I am assuming that is what you are saying above!! Even though I was on Experians site?

Thanks for all your help! I really do appreciate it. I am determined to get this cleaned up and start fresh for my family!

[rrockinggramma]

http://www.myfico.com/Products/Products.aspx

I purchased the Fico standard for each credit bureau to get my score. It showed me everything I needed to know about my score and also helped me see what would make it go up in the future. With the standard each fico is 15.95 for each pull but they do have a monthly or quarterly monitoring service which I might do after I have my disputes taken care of. With the disputes, it helps you print out a letter to send in to each reporting agency.

[Boscoe]

yes, you cannot get your FICO scores from Experian at all. They only sell their own version, which is a way for them to make money - but it is NOT what the lenders use.

Use the myfico site and they have a customer service # to call if you have problems....I guarantee the score the lender who denied you used was NOT the Experian one...

good luck.

[chpxiii]

Thanks Boscoe! I looked at myfico.com and it shows just Equifax? I did not see where I could get all 3 reports and scores!

You can also purchase the "Credit Complete" product at myfico.com at the following link:

http://www.myfico.com/Products/FICOThree/Description.aspx

[rrockinggramma]

I have found the my fico site quite useful. In fact, it simulates my score going up a lot with just taking care of a few items. I am glad you talked about that product. I am looking at the quarterly monitoring service cause it takes a few months to get things changed.