Also if the last one was in Nov. you can probably get a free credit report from all the agencies. I think the laws changed a few years ago where everyone in all states could get one free every year. You’d still have to pay $6-$7 for your fico report from each agency though, that’s not part of the credit report.
goto www.myfico.com and order your 3 reports with the scores… Will cost around $35 but worth it… DO not let brokers pull your scores…tell them they can have a recent copy sent to them… Though the so called myth of all the brokers in the world can pull your credit over a 10day period and it will only count as 1 pull is somewhat of a lie…if they insist on pulling credit…then pass them up…They do not need to pull your credit till they goto the closing table with a recent report…
As for your score…it will be the middle number of the 3 scores…not the avg of the 3 scores… and its weird as they can greatly vary…I have one score that is about 70 points lower than the other 2…
Those free credit reports doesn’t necessarily reflect the same scoring model that the mortgage industry uses. You’ll find that almost always those scores will come in higher than the scores when you apply for a mortgage or car.
Contrary to popular belief, the way it works is that the 3 credit bureaus allow you to have as many inquiries for a mortgage or car within a 30-day window – they want you to make the best possible choice since you’re likely to own one. Then there is the de-dupe[grace] period where within 14-days after the window… all inquiries for a mortgage or car at that time will count as 1 single hit. This info isn’t made known for the public.
The credit bureaus all update/rescore on the 15th of each month as long as the financing institution reports the changes.
If you would like to receive a free Credit Boosting packet that I wrote… please email me at Sean.Pham@yahoo.com
Myfico.com is great for learning about your credit score, but you don’t need to pay the $35 if you haven’t had a free report in the last 12 months. Go to annualcreditreport.com which is a website set up by the 3 credit agencies. Beware of similar sites that charge money. Once you’re at each site, there’s an option to pay $6-7 for a fico score. Still works out cheaper than paying $35.
According to myfico.com, it’s a 14 day window is what counts as one pull in search for car or mortgages.
Brokers basically have to pull credit because borrowers can lie. For that matter once the broker pulls credit and sends the info off to the bank, the banks pull credit again because brokers can also lie. There’s lots of checks and balances out there. It’s that trust but verify. I’d like to hear someone naming a broker that will go through pricing out a loan without pulling credit. The GFE (good faith estimate) wouldn’t be worth the paper it’s printed on. (Actually some people say that about GFE’s in general, but that’s another thread.)
As for score variations, it seems that not all items are received by all the credit burea’s. I’ve seen people with judgements on their report, but it’s only on one or two credit bureaus so the numbers are 50-70 points apart.