3 Credit Scores That Can Hurt You

Credit Bureau Scores Are Not Triplets

The 3 Credit Bureaus, Experian, Equifax and TransUnion all report credit scores based on many, many criteria that they collect from multiple sources. These credit scores call all be different and can vary widely because a lender does not have to report to each lender and does not have to report each month. It’s totally up to them what and when they report information.

This can have a great effect on your ability to obtain credit.  A lender can pull all 3 credit scores and pick the highest, the lowest, the middle score or all 3 scores to qualify you for your loan. That can be good or that can be bad depending upon where your scores are.


Another factor that will affect your ability to get a loan is if you apply for a loan with a co-applicant, they will also pull the scores from all 3 bureaus for them as well… you may have scores that qualify but the co-applicant may not and that will affect the acceptance or denial of the loan you are trying to get.

Pull Your Own Credit Scores First

It is always a good idea to find out the parameters of the loan you are trying to get prior to having them pull your credit scores.  Then you can pull your own credit scores through www.MyFICO.com to see if you can at least qualify with the right credit scores and it will not count as an inquiry if you pull the credit as a consumer.  In fact, it will never show up on a credit report that you pulled your own credit. You will also need to pull the co-applicant’s credit scores as well.

I suggest using www.MyFICO.com because they are the only credit score online that complies with the 300 to 850 scoring module that the lenders use to determine whether you qualify for a loan.  All others, including the 3 credit bureaus use a different scoring module that will not give you the information you need to qualify for anything. It’s quite useless and not helpful, so don’t waste your money on getting their credit scores online.

Hope this helps you make some wise financial decisions.  To your financial success…

Lawrence M Law has 25 plus years in the financial industry and is CEO of Vantage Credit Alliance.  A credit repair company that uses attorneys and gains an average of 127 point increase in just 4 to 6 months on average. If you would like his assistance or to get a free credit analysis and report, call him at 801-769-9443 or email him at Lawrence@VantageCreditAlliance.com (just click on the link)  It’s free and no obligation.   Give him a call, he won’t bite.