Your Questions About Credit Reports With Scores

Lisa asks…

what is the best site for monitoring credit report?

Im looking for a good site online that will give me access to all 3 credit reports AND scores for a low monthly fee.

John answers:

I’m currently using equifax score watch and transunion identity theft guard. Personally, this has been a valuable tool for me. Best thing is these are authentic fico scores, not like fakeo scores from others CRA’s.

Sandy asks…

Is it true that if you see your credit report, your credit score goes down?

I have always wanted to buy my credit report from equifax, but a friend of mine told me that even purchasing credit report drops down your credit score. Why?

That is very unfair because it has nothing to do with paying any debt — you’re just trying to check score for your own knowledge.

Then why some people say score will go down even if you buy your report from equifax?

John answers:

That’s incorrect. When you look at your own score, it’s a “soft” inquiry, and has no effect on your credit score. When a potential creditor looks at your credit report, that’s a “hard” inquiry, and it does affect your score. To learn the real scoop, check out the Fair Isaac web site. (the FI in FICO score)

Jenny asks…

how long does it take my credit score to improve once items are alreay deleted from my credit report?

I have worked very hard on actually getting debts deleted from my credit report but my score is the same! How long do I have to wait for it to improve?

John answers:

I do not know how much your score can be rasied but this will defeinitely help you out. I went to , a totally free service that helps you raise your credit and create a plan to keep it up. Its pretty helpful.

Paul asks…

How do I fix this on my credit?

I recently tried to take a look at my credit report/score and was unable to answer some of the security questions to prove my identity to view it. They were requesting information about past mortgages & auto loans – which I have never had! This is the first time I have tried to view my report and the mortgage is supposedly dating back to 2003. I would have been 13 years old, so this is not possible. What do I need to do now?

John answers:

You can call or follow the instructions for a written report.

George asks…

Why did my credit score go DOWN when I paid off my car?

I had about $1,800 left on an auto loan. I paid it off in full. Once that was reflected in my credit report, my score went DOWN 15 points. There were no other changes to my credit report that could have caused this.

Whats the deal? I thought, if anything, that decreasing my debt by 2k would HELP my credit score.

John answers:

Sort of the same thing happened to me…….I do not use credit cards, but I do take out loans. I paid off my car about 6 months ago, and am completely debt free. I went to apply for a credit card thinking I had a great score because my car was paid off and here I had NO fico score. Apparently anything you pay off does not factor into your fico score, even though it shows up in as being in good standing. Only revolving debt (credit cards) and currently open loans must factor, not loans that you have paid off……….Is that insane or what! I have 20 years of car loans paid off every month, no lates………an NO FICO score. You can only have a FICO score if you are IN DEBT and making your payments on time.

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