Credit Scores

Mommy Millionaire Next Door says Order Your Credit Scores.

On 9-24 I checked and paid for my FICO scores from Annual Credit Report. I am curious to see if my numbers change when I marry my fiance, who has dealt with cash alone for most of his life. The credit score companies have no records on him.

My scores are high.

My Equifax FICO score is 805.

My Transunion FICO score is 858.

My Experian FICO score is 836.

There was an initial delay in getting my Experian report. The reason? They have our mortgage listed with the company we started out with five years ago, which sold our mortgage to another lender three years ago. The question was choose your mortgage company; several names were listed, including “none of the above”. Naturally I chose “none of the above” since that company was no longer the one to which we pay our mortgage. Nonetheless, my answer was wrong and my credit report was delayed.

When they rejected me they said I would receive mail sent out within 24 hours with instructions for accessing my free report online. That arrived by USPS within a couple of days. The instructions arrived in a very plain, nondescript envelope.

It cost $7.95 for Equifax, $7.95 for Transunion, and $5.95 for Experian.

Here are three myths that Experian clears up:
IN THE KNOW: The Top Three Credit Myths: Revealed

Myth #1: Checking my own credit report will lower my score
Personal inquiries, also known as “soft inquiries” or “below the line inquiries,” are not visible to lenders and therefore are not part of your credit score calculation. So you can rest easy—checking your own credit report or score does NOT negatively impact your score.

Myth #2: Applying for new credit will actually lower my score
This depends on the type of credit you’re applying for. If you apply for several credit cards within a short period of time, the number of inquiries will go up, which could drop your score. But if you’re applying for a mortgage or auto loan, multiple inquiries from these lenders are generally treated as a “single inquiry” and will have little impact on your credit score.

Myth #3: My score is the only thing that matters to a lender
In addition to your credit score, credit grantors may consider a number of other factors such as your income, assets, length at current residence and employment history when determining whether to extend credit. The criteria used may differ from one creditor to another.

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