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Credit Score Checking

Discussion in 'Off-Topic Discussion' started by tcBob, Dec 11, 2006.

  1. Dec 11, 2006 at 1:52 PM
    #1
    tcBob

    tcBob [OP] Gringo Bandito Staff Member

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    I was discussing with a friend about the effect on your credit score of checking your score too often, or having various dealers/banks checking your score as well. Supposedly, you shouldn't have your score checked or requested more than x times a month or something like that. Can anyone shed some light on this?? Thx. :)
     
  2. Dec 11, 2006 at 2:21 PM
    #2
    Ldytaco05

    Ldytaco05 it's all about me

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    every time you check your credit they take out 3 points. the best way in checking your score without penalty is when your credit is pulled by any company you have 2weeks of requesting the info. also certain months of the year three credit bureaus allow their customers to pull their credit for free and no penalties. hope this helps.
     
  3. Dec 13, 2006 at 7:29 PM
    #3
    whitjr

    whitjr New Member

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    Your score(s), sometimes referred as a "FICO" score is named after Fair Isaac Co that developed the complex formula and guarded it for years like the Hope diamond. Today good info is available at sites like myfico.com under "learn". It's a pretty complex formula made up of a ton of criteria including age of accounts, payment history, inquiries past 24 months etc. but also how you use the credit you have or "utilization" of revolving credit. It is best to only use around 20%-25% of the available credit. Today's scoring system is supposed to weed out multiple inquiries from let's say auto dealers in a short period of time such as when you might be shopping for a car loan etc. However a great deal of inquiries (or credit pulls) can have an impact on scores as would new credit lines but go online and you can get detailed descriptions of how different things will affect your score. Good luck.
     
  4. Mar 2, 2010 at 7:40 PM
    #4
    Chester

    Chester Well-Known Member

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    www.annualcreditreport.com
    fed law you can check it for free once a year and you are charged no point either.it gives you all 3 reports and is totally free no signing for for shit
     
  5. Mar 2, 2010 at 7:43 PM
    #5
    jhodge83

    jhodge83 Any dog under 50# is a cat and cats are useless... Staff Member

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    wat?
    wow...dead thread fail.....

    and section fail by bobbo..what kinda shady admins run this place?
     
  6. Mar 2, 2010 at 7:45 PM
    #6
    SlurpeeBlueMetallic

    SlurpeeBlueMetallic FFFFFFUUUUUUUUUUUUUUU...

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    This won't give you your actual FICO score, however. I cycle through the three reports available during the year, just to be safe. Checking your credit this way has ZERO impact on your credit score but you won't actually know your credit score either. All three of the reporting agencies will allow you to buy your credit score during the free credit report process... it's usually like $8 or something like that and this option also doesn't impact your credit score.

    Having a 3rd party query your credit score just to provide it for you can impact your score overall, since they likely will pull the information as if you've applied for credit to get the full report.



    damn, I didn't even see the 2006 date :D
     
  7. Mar 2, 2010 at 7:46 PM
    #7
    EquinsuOcha

    EquinsuOcha Bourbon

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    At least the old ones are less repetetive.
     
  8. Mar 2, 2010 at 7:48 PM
    #8
    jhodge83

    jhodge83 Any dog under 50# is a cat and cats are useless... Staff Member

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    wat?
    true....i dont hink i've ever seen a credit score post on here...or just never cared
     
  9. Mar 2, 2010 at 7:50 PM
    #9
    EquinsuOcha

    EquinsuOcha Bourbon

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    That's because you were probably looking in the right subforum. :D
     
  10. Mar 2, 2010 at 7:51 PM
    #10
    Chester

    Chester Well-Known Member

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    Wow,out of town screwing with my phone tired of reading rust or anyother stupid issue post
     
  11. Mar 2, 2010 at 7:55 PM
    #11
    Chester

    Chester Well-Known Member

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    iPhone took me to page949 LOL by lunch tomorrow should be a 1000 pages of old info nobody bothers to search before they make a post
     
  12. Mar 2, 2010 at 8:42 PM
    #12
    gjbonner

    gjbonner Well-Known Member

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    I pay 15 a month to hve unlimited access to my report and FICO score. I also get the alerts and stuff. i do the Freecreditreport.com thing. i have had it for a couple years now and its worth it. you always know wat is going on. you checing yur own credit report never hurts you. its only when someone else makes an inquiry.

    I jsut bought a car and between thedealer and my bank making an inquiry and my debt income ratio changing it dropped 12 points.
     
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