Friday, August 12, 2011

Credit Score Confusion

Disappointment.

Shock.

Bewilderment.

Pure Bliss.


These are all the emotions checking my credit score have had on me in one day. So I've been reporting that my credit score is the same, etc, etc. Well... I've been checking in on CreditKarma.com. Even with all the research I've done and all that I know about credit scores, I still misunderstood their set-up. Credit Karma has their own credit scoring system. I thought that it was an average of Experian, Equifax and Transunion. It's not.


So as I'm throwing CHUNKS of money at my credit cards and the score's not moving, something told me to check freecreditreport.com. I go there, sign up for the free trial that allows me to see my score (I've already canceled it. You're not getting $14.95 a month from me buddy.) My ACTUAL score from Experian is 64 points higher than the Credit Karma score.



Credit Karma says my credit is "fair".

Experian says my credit is "excellent".



The thing is I've never heard of a bank or mortgage lender checking a "Credit Karma" score.



Ok, I'm rambling. Here's the point: ALL OF MY HARD WORK IS NOT IN VAIN!!!! My credit score is Poppin'!!! I'm officially 21 points away from my goal credit score. I might just go buy a house.



LOL! Happy Weekend y'all!

2 comments:

chichi said...

Go T!!!! It all worked out :)

South Loop Social Light said...

That's awesome news!!! Congrats... and yes, I think you should start thinking about investing in real estate :)