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I can't speak for the other points you raise, but I note that it says "Credit Score" rather than "FICO score" - all of the credit reporting agencies (and some t
by CommieBobDole 9y ago
I can't speak for the other points you raise, but I note that it says "Credit Score" rather than "FICO score" - all of the credit reporting agencies (and some third parties) have their own "Credit Score" product that they sell or otherwise provide - it's almost a scam in itself, in that they strongly suggest they are selling you a FICO score but instead give you their own internally-generated, presumably royalty-free number.
Since there's no cost associated with this, they may well generate one for everyone and store it with their data.
- SilasX 9y agoYep! The difference between the two was a particular source of frustration for me. Back when I was relatively new on the (full time) job market, I pulled my reports from annualcreditreport.com and it would tell me that my "credit score" is 720-740, and no negative marks. However, I also had never taken out a loan before. So whenever I tried to do use that pristine credit (e.g. for a mortgage, credit card, or apartment), I had "no credit history" which appeared to the credit as toxic and subprime. (Relatedly, when I got my first part time job and tried to buy a PS console with a check, Best Buy said it violated their "risk parameters" and wouldn't take it, though Walmart would.)
- wil421 9y agoAgreed with this. I had no credit except a credit card until I was 30 and bought my first new car. All my other cars were family cars or bought from relatives. I worked during school so no loans either. I'm curious to see what happens when I buy my first house. There was a huge chance I wouldn't have even needed the car loan but life happens.