Discussions

So I've been monitoring my credit closely as someone had gotten ahold of my old credit card and charged items to it (totally caught it in time thankfully and everything was reversed). I notice that both Transunion and Equifax have 2 different credit scores. My score is literally 100 points higher with one agency than the other. My question is are both numbers taken into account? I figured out the mean of both scores and that total still gives me a fair credit score (I was young and stupid once). But as I said, my score was 100 points lower with Transunion than it was with Equifax.

but can you access your credit score with a fee?  
 
thx

Transunion is $16.95 a month and Equifax is $23.95

Credit scores only show how well you borrow money not how well you save. System is corrupt.

Habs59 said "Credit scores only show how well you borrow money not how well you save. System is corrupt. "

That's because credit means money borrowed. If you wanted it to track how well you save money it would be called a save score.

Is when you're applying for the type of credit you shouldn't be getting anyway...credit cards, store cards, etc...important good debt like mortgages etc do look at credit scores but they are more for CMHC and to qualify for 5% down, etc...I've been told repeatedly by my banker, accountant and financial consultant that credit scores are kind of pointless unless your looking to acquire the kind of debt that is just going to get you in trouble...

This doesn't add up. If someone had gotten hold of your credit card info, the credit card company would have cancelled your card and issued a new one with a different number. In that case your old number would be void and no charges can go on it. So why check your credit score? And you should also know that constantly checking your credit score lowers your credit score as well.  
 
Krunch  
 
Edited by krunch, 2015-07-19 11:29:09

I have the transunion subscription and you can check you score daily without any impact to your score.

Kenneth Noisewater said "I have the transunion subscription and you can check you score daily without any impact to your score. "

it clearly states it does not effect your score when you subscribe. I am subscribed to equifax.

Sorry, maybe I'm thinking about a Curtis bureau? Basically what the bank does when you apply for a loan. If you went to a bunch of banks for a loan or mortgage and they each checked your credit, this would impact your credit score.  
 
Krunch

Sorry, credit bureau...  
 
Krunch

but what i dont understand is why i have 2 different scores from the 2 main companies.... and with 100 points difference. do they add both up and then just figure out the mean and generalize it?  
 
and yes the credit card was cancelled and charges were reversed... i subscribe so i can see if any hits are made on my credit (like new accounts being opened up, etc).

Depends what bank you deal with. One bank used equafax and I scored 200 points different then another bank that used trans Union, one bank I was completely denied and another I could have got a mortgage.