 Is it me or is HSBC have the worst Customer Service ever? |
| They have the worst Collectors and customer service reps ever. They constantly try over-talk you will call you a liar to your face. After today I will start recoeding my conversations with them. T... |
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 Auto loan with a FICO score of 750? |
Is it likely or unlikely for me to get approved for an auto loan?
What do you think the APR would most likely be for a 750 fico score?
I have no negative or derogatory on my ... |
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 Will it hurt my credit if I pay my mortgage one day late.? |
| I waiting for my paycheck to clear. And my mortage is with the same bank that I have my checking account with.... |
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 Why are people so judgmental when it comes to credit? |
| I see a lot of people on here who answer questions about credit that put others down who are seeking help b/c of poor decisions. They rub it into the person's face that they have flawless credit ... |
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 Worth closing credit card? |
| I have one payment left on a high interest credit card and then it'll be payed off. I also pay a $50 annual fee with or without money owed (got the card when I was younger with no credit to my ... |
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 Has anyone ever used a credit monitoring or credit alert service? |
| I am thinking about signing up for a credit alert service through one of the 3 credit agencies. They all offer som many different options but I would like to no how well they work.... |
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 If I filed for Bankruptcy can i get a home loan? |
| I filed for bankruptcy last Oct 05 husband did not and we want to purchase a house and land that is going up for Sheriff's Auction. Will we be able to get a loan? And where should we go to get ... |
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 Ebay???????? |
| When u buy something on ebay can u cancel ur order????? after u already buy it and used a bank or credit card? and ... |
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 I wonder if having 100K in available balance when you apply for a mortgage would hurt your chances? |
Lets say you make 50K a year and have 100K in available credit.
Wouldn't that hurt your chances for a loan, or will it improve them?
Wouldnt the leder be afraid, you'd "go ... |
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 My hospital bill has gone for collection. How badly does that affect my credit? |
| I paid the bill as soon as I got a phone call from the collection agency, though it is too late.... |
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 How do I get a collection agency to stop harassing me for a debt that is not mine? |
| Sometime in 2005 this collection agency in New Jersey sent me a letter by mail saying I owe something like 2600 dollars for a debt to Verizon. The name on the information they sent was not even ... |
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 Been made redundant and have a car on finance need advise!!? |
| hello, my partner as a car on finance and he as just been made redundant well he as payment protection which covers him for a yr well ne way he as 9000 still left to pay how much will they cover him ... |
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 Would someone explain to me how cheques work? |
To me it's just like writing the amount of money down on a peice of paper and writing down the name of who you're giving that amount to. Then just signing it at the bottom...
It&#... |
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 Refusing new credit card terms, effect on my credit score/rating? |
| My Chase card was taken over by J.P. Morgan. I have a great credit rating (score 763) and have never missed a payment. Today I get a letter about the"new" terms: my fixed 8.99% rate is ... |
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 Bad credit? |
| yes, i really do need some help. i am only 18 yrs old and my mother got me 3,000 dollars in debt. what steps should i take to get on with my life and have something in my own name???... |
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 Do Victoria's Secret credit cards build your credit? |
| Of course, that is, if you pay them off right. I'm assuming they help your credit a little, but i wonder by how much, or if I'm better off to just get a normal credit card.... |
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 Credit Score? |
| How can you rebuild your credit rating?... |
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*~*Your Dream Come True*~* | My Experian Credit Score is 644, my Equifax is 617. Which one is right? |
I am getting married soon. My fiance and I have about the same credit scores. Which one is right for mine? Also, will it be hard to get a loan for mortage with our credit scores ranging 600-660? |
 |
 
Josh K
 |
They are both right. All 3 bureau's use different scoring models to calculate credit scores. It is also possible that some bureau's have some information that other ones don't This is fairly common. The banks probaly wont even use these scores if you go for a mortgage. They will either use a fico score or what is called a Tri-merge report score. At any rate with scores in the lower 600's it might be hard to get a conventional mortgage, especially with the way the housing market is. Yo may qualify for FHA, they are more fogiving, but with the housing crisis even they have tightened up there once forgiving criteria. With a score in 600's you SHOULD be ok for FHA. Hope some of this info helps. Best of luck! |
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cnralph
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Both, they're not always equal just cause they use different methods to calculate. And a loan with that score shouldn't be difficult depending on the price. |
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bdancer222
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It is normal for your FICO score to be different for each of the three bureaus. There might be different info on each report and they have different formulas. The best place to check for real FICO scores is MyFico.com.
Mortgage companies pull scores from all three and usually go with the middle score. Of course, the better your score, the better the interest rate.
This would be a good time to get copies of your credit report (AnnualCreditReport.com) and see what shows up. Dispute any errors. And start working on settling any derogatory items -- start with the newest and work back to the oldest. Mortgage companies will insist all derogatory items be settled before you are approved. Might as well start on it now.
If you are carrying balances on credit cards, pay them off. Carrying balances of more than 30% of your available limit hurts your score. Paying them off is the fast way to boost your score.
Another bit of advice, don't buy more house than you can really afford. Use the 25% of your monthly income as house payment rule of thumb. |
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sunshine
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Each credit bureau rates differently so you will have different scores... With a credit score of 600-660 that is considered good so you won't have a problem getting a loan.. Just dont apply for every offer you see cause it will lower your score.. Search for the good rates... |
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deirdrezz
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There are three scores used. (They average them.) 750 or higher is what you should be aiming for. In the 600s is mediocre. Nowadays, banks and loaning co. are skittish. What can you do to improve your score?
1. Pay off any credit card debt you have.
2. Close unnecessary accts.
3. Compare your income v. your spending. If the ratio is not good, change your habits.
For ex., I use credit cards to pay for everything because I want to collect mileage pts, etc. I always pay my bills, but on paper, it looks like I am insane. Someone with my income shouldn't be charging that much every month if credit cards are for "emergencies, special occasions, etc." So, if the credit bureau views your spending as inappropriate, they will lower your score (regardless if you are paying your bills). Therefore, change your habits for a 3-6 months before applying for a mortgage to get a better score. |
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mss
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The only credit score that matters is the one that your mortgage lender is using. If you are applying for a car financing, it will be the score that the car financing company is using. So which score is the most accurate is irrelevant and hard to define anyway. They all use different algorithms and will tell you that theirs is the best. It does not make much sense to me either but it is what it is.
With that in mind, what you can do is check with several mortgage lenders and see who they use to provide them the credit scores. Hopefully you can find someone using the one that gives you the highest score. As far as I know, they all use one of the three national credit bureaus (Experian, Equifax and Transunion) and at least some of them should be using their scores too.
Also, I would have to disagree ith some of the suggestions other responders have given you, specifically with the one that is advising you to close accounts that you are not using. Don't do it! It will worsen your debt-to-credit ratio, which is a component of your credit score. What it shows is the overall unpaid balance (across all of your open accounts) as a proportion of your combined credit lines. Ideally, you should keep it below 8%.
What you can do is go to http://www.myfico.com, they provide credit scores to most of the US financial institutions. That's all they do and they offer a free trial account, which gives you not only the score but information on what to do to improve it. Unfortunately, they don't give out their formula, but they still provide more than what I've found anywhere else.
Good luck! |
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americanfreeman
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both are correct.
The one most important is the Fair Issac Score , the so called FICO score. That is what 90% of the credit people use to rate you. They take the inout from all 3 credit agency to get their number.
Try to get at least a 760 before you try to get a home loan, over 800 would be ideal, |
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warriorsca2001
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one may go back further then the other one. Congrats on your up comming wedding.
Carrie |
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