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Post Reply Do you know your Credit Score ?
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Posted 7/3/17 , edited 7/3/17
You can use the link provided in FTC link to get your free credit reports (no score though). Most credit card companies will provide free credit score anyway...

https://www.consumer.ftc.gov/articles/0155-free-credit-reports
https://www.annualcreditreport.com/index.action

Your credit score may be higher than you think
https://www.youtube.com/watch?v=j8GPYDO1yeU


I guess it will take a while since my score went down instead of up (I'm guessing due to my potential employers pulling my credit reports over the past few months)



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35 / Lost.
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Posted 7/3/17
Yes.
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35 / M
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Posted 7/3/17 , edited 7/3/17
730-740-ish.

Dropped a bit last august when I bought a car to 721 but slowly climbing back up...
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Posted 7/3/17
Yeah, I think everyone should.
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24 / M / New Mexico
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Posted 7/3/17
Yep.
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28 / F / SC
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Posted 7/3/17
yes

it's okay
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24 / M / Kaguya's Panties
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Posted 7/3/17
Nope!
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Posted 7/3/17
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Posted 7/4/17

serifsansserif wrote:

730-740-ish.

Dropped a bit last august when I bought a car to 721 but slowly climbing back up...


I bought a new car a few months ago + multiple employers pulled my credit reports. My score dropped by 10 points but i don't think it's because of the new car..

you got a late payment ?
Posted 7/4/17

dulun18 wrote:
<snip>


TransUnion has me at 809, Equifax has me at 805. I'm in the top 15% according to both of them, so I think I'm doing fairly good. The trick is making sure you're always paying on time and you have a robust history of credit usage. Whenever I go to get a new vehicle, I tend to wait 2-3 years before paying it off. My bass (guitar) was my longest running loan (an Alembic Series II) - which helped build my credit early on. Student loans were the next series of things that bumped up my score. Again, it wasn't the fact that they were high - it was the fact that I never missed a payment for 2-4 years (before paying them off).

Just remember, one missed payment on an installment loan (like a student loan) can easily equate to a 50-100 point deduction to your credit score (friends have found out the hard way on this). Payment history is something like 30-35% of your credit score; it's the biggest chunk of your "grade" when it comes to credit scores. Regarding your employers checking your credit, it's doubtful that this impacted your score unless they were hitting you with hard inquiries (usually means they're lenders who are going to open a line of credit with you - not pulling a background and credit check).
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Posted 7/4/17

dulun18 wrote:


serifsansserif wrote:

730-740-ish.

Dropped a bit last august when I bought a car to 721 but slowly climbing back up...


I bought a new car a few months ago + multiple employers pulled my credit reports. My score dropped by 10 points but i don't think it's because of the new car..

you got a late payment ?


Nope. I honestly cant remember my last late payment. Typically I pay overage.

I don't really carry many loans. There was mainly the one from my year at college (didn't complete it), and my sister's college loan (one year for her, 6 years later).

credit card account's been the same for 10-15 years, never went above 60% of the limit.

I don't make a lot of cash, I just also don't spend a lot.
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Posted 7/4/17
Yes, I do know mine. As previously mentioned, timely payments and line of credit age are key. When I was younger I didn't want a burden of credit and paid for all with cash, so I didn't have much for a credit history until the past few years when I pursued building my credit up. Ninjitsuko is correct that your employers checking your credit report count as soft inquiries and should not have an impact on your score.
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Posted 7/4/17 , edited 7/4/17

ninjitsuko wrote:


TransUnion has me at 809, Equifax has me at 805. I'm in the top 15% according to both of them, so I think I'm doing fairly good. The trick is making sure you're always paying on time and you have a robust history of credit usage. Whenever I go to get a new vehicle, I tend to wait 2-3 years before paying it off. My bass (guitar) was my longest running loan (an Alembic Series II) - which helped build my credit early on. Student loans were the next series of things that bumped up my score. Again, it wasn't the fact that they were high - it was the fact that I never missed a payment for 2-4 years (before paying them off).

Just remember, one missed payment on an installment loan (like a student loan) can easily equate to a 50-100 point deduction to your credit score (friends have found out the hard way on this). Payment history is something like 30-35% of your credit score; it's the biggest chunk of your "grade" when it comes to credit scores. Regarding your employers checking your credit, it's doubtful that this impacted your score unless they were hitting you with hard inquiries (usually means they're lenders who are going to open a line of credit with you - not pulling a background and credit check).


We had conversations regarding various topics on this forums. I know i can't compete with you on a lot of things...if it's credit score I have a winning chance

The Mazda dealer gave me a paper with my credit score on this 3 months ago.







serifsansserif wrote:



Nope. I honestly cant remember my last late payment. Typically I pay overage.

I don't really carry many loans. There was mainly the one from my year at college (didn't complete it), and my sister's college loan (one year for her, 6 years later).

credit card account's been the same for 10-15 years, never went above 60% of the limit.

I don't make a lot of cash, I just also don't spend a lot.


the only loans i have are the mortgage and the new car loan-- if debt vs income I'm neck deep in dept. It's because they use the total amount borrowed vs annual income. They will show it in the pie chart included with your credit report.

Buying the house didn't hurt my credit at all. I believe you have 60 days grace period before a late payment is reported to the 3 agencies.
Posted 7/4/17

dulun18 wrote:
We had conversations regarding various topics on this forums. I know i can't compete with you on a lot of things...if it's credit score I have a winning chance

The Mazda dealer gave me a paper with my credit score on this 3 months ago.


This looks like the "VantageScore" that the three major creditors have ended up using for risk analysis. I don't think TransUnion, FICO, or Experian/Equifax goes over 850. Even then, an 850 isn't going to net you any additional benefits over having a 750-760 score (at the end of the day). Now that VantageScore is great for larger loans (vehicles, homes, refinancing, etc). It shows whether or not you're "at risk" for being late or attempting to "escape" your debt (as in, bankrupcy).

As for any major loan (over $10,000) - you'll find that your credit will drop about 10-50 points for around 6 months. This is mostly because it needs payment history and the amount paid versus what's owed needs to drop a little. Mine was 740 after I bought the beach house in Florida - now that it's been paid for about a year, it's back up to its normal score.

I'm pretty sure anyone will tell you that a VantageScore over 800 and a credit score over 750 are pretty much the "peak" of good credit. Beyond those, you won't find special deals for those over that 800 mark. I will say there are a few perks of 800+ credit score:

1. Fast loan approvals (I could walk into a bank and get a loan up to $500,000 without blinking - so could anyone who has that a similar credit score and history with paying on time).
2. The rare "0% interest" (Even at 800+ this is a rare scenario but it's less rare than if you were only hitting around 680-700).
3. Executive-level jobs (You know how some companies do a credit check? It's a genuine method of determining whether or not you're good with your personal finances. It's an indication of whether or not you can handle being responsible with company funds - which you normally have some level of access with when it comes to an alphabet title at a company).

At the end of the day, don't strive for the "perfect score". Just strive for 750-760 and let whatever else happens come naturally. I think the highest documented credit score in the US was some dude with a score of 848/850. It comes from having a flawless credit history - from day one to the day you're a senior. That can drop if you don't save enough for retirement and lean on your credit score for the last few years or two too.
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Posted 7/4/17 , edited 7/4/17



It's a FICO score. I'm looking at the paper right now.

TransUnion-- FICO Auto 08
Experian - FICO Auto V8

i have no idea what the 08 and V8 mean but they are FICO scores, as for the score range..

I'll just take larger picture of the paper

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