(OT) Why are TransUnion scores so low?

[brian1972ct]

Hey all,
Filed BK last month, and awaiting discharge sometime in July (isnt waiting tough!). Anyway, I have been watching my scores carefully through the whole process. Can anyone tell me why my Transunion score is so low??? The positive/negative inquires are the same on all 3, and actually I have less inquiries on TransUnion....here are my scores:

Experian: 664 (up from 649 2 weeks ago)
Equifax: 628 (has not changed)
TransUnion: 530 (up from 526 last week)

Lastly, once my discharge comes through in July (hopefully, dont wanna jinx myself), what if any changes will I see to my score?

I just opened a Capitol One card, and only made one purchase and paid it the same day online. As much as I hate credit cards now, I know its somewhat of a necessary evil.....thanks ahead of time!

[brian1972ct]

(OT) Why are TransUnion scores so low?

Hey all,
Filed BK last month, and awaiting discharge sometime in July (isnt waiting tough!). Anyway, I have been watching my scores carefully through the whole process. Can anyone tell me why my Transunion score is so low??? The positive/negative inquires are the same on all 3, and actually I have less inquiries on TransUnion....here are my scores:

Experian: 664 (up from 649 2 weeks ago)
Equifax: 628 (has not changed)
TransUnion: 530 (up from 526 last week)

Lastly, once my discharge comes through in July (hopefully, dont wanna jinx myself), what if any changes will I see to my score?

I just opened a Capitol One card, and only made one purchase and paid it the same day online. As much as I hate credit cards now, I know its somewhat of a necessary evil.....thanks ahead of time!

[tinroofrusted]

Transunion sucks, period. They are the worst of the three bureaus, and you really have to watch out for them.

Also, some of the scores can be 50-100 points higher on YOUR score than on the score that they give the lender.....

All I have to say is watch out for Transunion. For some reason they are the most popular bureau reported, and is the one with the most mistakes and problems when dealing with them.....

[skyan]

I can't answer your credit score question. But I just wanted to caution you on your Capital One. Please make sure you pay them EARLY every month. They are horrible. I used to pay mine online, EARLY. But it still takes them a couple days to process. Any time my payment was due on or right before a holiday, or a weekend day, they would HOLD my payment until AFTER the holiday, or the following weekday that they were open for business. I would then be charged a late fee, even though I paid it online BEFORE the due date. And if you happen to be close to your maximum, and are making minimum payments, this practice of theirs can really run you into a hole, by eventually taking you up to the max, and then them charging you for being over the limit. And they will increase your interest rate when they charge you the late fee. Sorry if this sounds like a vent. I just really want to warn people. We had 4 cards with them, and every month, they were doing this to us. We paid as soon as we could, but had to wait until payday. But it was always before our due date. And I paid online. That's supposed to be almost instantaneous. It doesn't post sometimes until the next business day, they say. Well, we always paid plenty in advance, but they just held the payments, on purpose. I have read it is a VISA thing, that Visa is bad about doing this to people.

Good luck to you.

[copper2]

I agree

I've seen this too - it's almost like you get too close to one end (the limit) and the odds multiply for all kinds of problems, like they almost push you into it!

[robivi3]

Don't jump into these low limit or secured cards. In general they lower your score. Time is the main factor. As time progresses the lates will dissipate. I got an Aspire Visa card, good service, no problems with the card but the low limit actually lowered my score. I am closing the account on this billing cycle. I've had it for over one year.

The best avenue is to save one card from BK. Low limits can hurt you and you still may not be able to rent a car or hotel room (or both) if you have any purchases for that month.

[EdytaHome]

A bank Visa with no overdraft protection is my best answer. This way you only buy what you have money for.
As far as rebuilding credit, I have my student loans and I kept a Kohl's charge which I had for several years without a balance at the time of filing.
My discharge came at the end of April but I still have one forclosure hanging over my head July 12th, so I'm waiting to check my credit when that's done. I am very curious....
Goodluck!

[HRx]

I never personally noticed, or heard of TU maintaining lower credit scores than the other CRA's.

I'll definately look into this.............

[brian1972ct]

Well, I have made 2 other purchases on my Capital One Visa and paid them off the day after I made the charge....now I am wondering, if I am never carrying a balance, even a small one, am I even rebuilding my credit? Also got my discharge paper work in the mail today!!!! glad thats behind me, now onto a fresh start...

FICO scores changed a little, no change in Equifax:
Equifax: 628
Experian: 658
TransUnion: 526

Some of the BK is starting to appear on my credit report....

[3131tj]

where would we be w/o emoticons!?!?!

Also got my discharge paper work in the mail today!!!! glad thats behind me, now onto a fresh start...

I FELT your excitement as I watched the happy (ecstatic!) smily face

congrats!

[3131tj]

how can that be....?

Also, some of the scores can be 50-100 points higher on YOUR score than on the score that they give the lender.....

How do you know what is really being reported???

[stevie2012]

Transunion sucks. Period.

[tinroofrusted]

How do you know what is really being reported???

The scary thing, is is that you don't.

I have been reading online about other instances of Transunion's dealings, and they are a VERY shady company. They don't give out the same info to creditors that they give to the creditees. The put "freezes" on accounts so you can't access your reports. They don't investigate disputes, even when the false information is documented.....

Interestingly enough, they are the most popularly used of the three bureaus!

[Minnymouth]

What I'm waiting for is:

When all these people that are claiming BK right before the law changes start hitting up these Credit Bureaus to correct their problems - won't they have FUN!!!!!

Especially if 6,000 more are fixing to get laid off...........

And yes - Trans Union is very "shady" - they don't want to show much at all on you credit report that you get.....don't want to update it, nothing.........

The Fair Credit and Reporting Act needs to be reenforced to them by the Federal guidelines...........

Wonder if my Congressman knows about this???

Hmmmmmmmmmmm - LETTER WRITING TIME!!!!



Minny