No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
They make take the middle one, or they make take an average.
Up to them.
Your scores are bad, you’re still not going to get a personal loan.
/
Depends on the bank. Some banks only look at a specific score, some banks average, and some banks take the lowest. Because you can’t know which, it’s usually recommended that you have an average score of whatever, so no matter what they do you should be okay.
Almost all will use the middle score — 626, There are a few that will average the three but they are few and faw between.
The score that nets the bank the highest interest rate for your loan.
Some look at the middle, some look at the average, some look at all three. That is up to the bank. Each bank has their own policy on this.
Depends on your bank. Why are they so different? Maybe you should check all 3 reports and make sure they all have the same information.
It really depends on the bank and type of loan. Some will use all three, some only one, some use the middle or lowest or average. Most banks use FICO scores, although some use their own scoring method.
It is likely that all three of the scores you listed are NOT FICO. Equifax uses FICO. You can also get FICO scores for Equifax and TransUnion at MyFico.com. Consumers cannot get a FICO score for Experian anymore.
TransUnion and Experian sites use Vantage scores (scale to 990 vs FICO’s 850) or each has their own Fakko scoring system. Third party monitoring services use Fakko scores.
Your scores are pretty low and you will probably have problems getting approved for a bank loan.
Shouldn’t they look at the actual information on your credit bureau(s) as well as the score? Sometimes credit scores can be adversely affected by things such as accounts you are not financially responsible for, yet someone has put you on their account (which they are responsible for) as an authorized user.
You must be logged in to post a comment.
June 14th, 2010 at 1:09 pm
They usually take the middle score.