Archive for the ‘Credit Score’ Category
Credit Score Dispute Forms
May 11th, 2011
Question: dispute form from experian just recieved it whats the best way about it specially when errors are involved.?
on the report there are different ways you might have used your name,different address if moved.there are 2 different home address there is also a ss# that is off by one number and my name is also incorrect whats the best way of disputing this in order to fix my Credit Score
Answer: You can go online and dispute each situtaion separately or mail a letter stating the problem and for them to corredt it.
Make sure to include
Name, address, phone, social, and a utility bill that has your name on it, and photocopy of state id
Credit Repair Techniques to Improve Credit Score Fast!
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Credit Score Rankings
May 8th, 2011
Question: Can I rely on usnews.com rankings for Graduate Schools?Please help!?
Que 1)
I'm searching ranking of different Graduate Schools in US from www.usnews.com.
Am I right?
Que 2)
What does the following means?
Say for example:
In-state, full-time: $3,744 per year,
Out-of-state, full-time: $13,584 per year
What is this In state and Out of State?
Que 3)
What does per credits means here?How am I gonna determine per year fees?
In-state, full-time: $155 per credit, Out-of-state, full-time: $602 per credit
Please help me and do suggest me some universities if you could based on my GRE 1120 Score,BE 70%.I'm applying for Spring 2011.TOEFL score awaited.
Answer: it is reliable
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Credit Score Ratings Scale
May 2nd, 2011
Question: How Good A Credit Score of 579?
I just checked my Credit Score with Intelius and Experian said my score was a 579. Is this a fair score or a good score? the scale was not clear? Does anyone know credit ratings
Answer: This should help you to understand how credit scores work..
FICO scores from 300 to 850 and Vantage scores from 501 to 990.
Here is the breakdown for both systems.
Vantage Plus system scores from 501-990.
A-901-990
B-801-900
C-701-800
D-601-700
F-501-600
FICO system scores from 300-850.
Elite-740-& up
Prime-700-739
Preferred-660-699
Standard-625-659
Sub-prime-624-& under
FICO is the only one that matters since it's the one that all major lenders look at.
So as you can see it depends on if your looking at a true FICO Score or a Vantage plus score.
As far as what makes up credit scores it's the following;
1. Payment history (longer the better) 35%
2. Time in bureau (longer the better) 15%
3. Types of credit (mix of credit cards & installment loans) 10%
4. New credit (new accounts and inquiries) 10%
5. Debt to credit ratio (lower the better) 30%
And just so you will know Experian only uses Vantage, Equifax only uses FICO and Transunion uses both depending of which type of Credit Report is requested of which there are 3. The standard that people get from the Internet, the auto enhanced which only car dealers and lenders see and the factual which only mortgage people see. The last two are not available to the general public.
To have the very best score and profile people need 3-4 credit card accounts (revolving) with balances below 30% of their credit limits and 2 cars, homes, boats, motorcycles, computers, furniture or personal accounts (installment) all with good long payment history's.
Add to this that unless you get your scores either direct from either Equifax or myfico.com your getting what's called a FAKO score which makes it even worse because they all have their own system to calculate scores.
Now in your case since you got your score from Experian and they use the Vantage Plus system so based on the chart above your score is very very bad.
Sorry man, but the truth is what it is.
Logistic distribution maps Credit Score to probability of default (PD)