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Finally got my FICO score. lower than expected?

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  • Finally got my FICO score. lower than expected?


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Answer #1 | 27/12 2013 16:46
CreditKarma is a third party service. They use TransUnion reports. The score is not FICO but generally the the TransRisk score is within 50 points or so. Vantage scores are on a different scale (500 to 990). CreditSesame is also a third party service using Fakko scores -- I'm not sure which credit bureau it pulls reports. Scores based on different credit bureau reports will be different. I'm not sure which credit bureau report Discover uses to base the FICO scores. Could be different from CreditKarma and CreditSesame ... In any case, credit decisions are based on what shows on your credit report, not the score. It's really more of a pre-screening tool. You probably don't use your existing credit card accounts enough. Use the cards for regular purchases and pay the statement balance in full every month. That will build credit and avoid interest. You have to actually use the cards to build history. Doesn't have to be large amounts.
Answer #2 | 28/12 2013 01:58
Credit scores go up and down all the time. The only time you would want a high FICO is when you are buying a home. Plus you never activity to build your score. In 12 months you have a fair score 620/659, in 24 a good score 660/749 and in 36+, excellent 750/840

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