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Credit Scores

April 20th, 2013 at 11:06 am

DW and I were looking at our credit scores on Credit Karma or Credit Sesame (no way I'm paying for curiosity information). Her score is up to "deity" level. Mine is still somewhat below "hero," probably in the "champion" range.

Basically, her score shot up by about 35 points to the "nowhere to go but down" range. Mine is still "very good," but there's a lot of both up and down potential. When we look at the basis behind the scores, we both score A in every category.

I'll never understand credit scores. Our credit has been married for over 6 years. Anything bad on mine from before should have fallen off.

Good thing we pretty much ignore these things. There's something about walking into a car dealership and saying, "We don't care about payments. All discussions will be referencing bottom-line, drive-out , we're-done-forever pricing. If you send me into the room with the lady who wants to sell me undercoating, pin striping, and extended warranties, I'll say 'yes' to everything she asks. Just be aware, though, that the number you and I come up with is the final answer, so you won't get another penny above that, no matter what you throw in for free."

We're currently saving to purchase our retirement home outright. I doubt I'll need a mortgage broker, and the title company will be someone I hire, not one hired by the bank or some other entity. I guess I've learned that doing things yourself saves money.

Still wish I knew why my credit score isn't moving at all. We pay our present mortgage on time every month.

Posted in Budgeting, Debt, Personal Finance, Ramblings | 4 Comments »

4 Responses to “Credit Scores”

  1. creditcardfree Says:
    April 20th, 2013 at 02:07 pm 1366466856
    1366466856

    Have you check your credit report free at
    Text is annualcreditreport.com and Link is https://www.annualcreditreport.com/cra/index.jsp
    annualcreditreport.com to see if there are any errors? An error could be affecting your credit score. You can check each credit bureau once every 12 months for free.

    I love hearing about people who pay cash for things that most of us don't. I'm sure it is fun to see the faces of people who are selling you the product!

  2. JulieA Says:
    April 20th, 2013 at 04:45 pm 1366476304
    1366476304

    Just a warning about Credit Karma - the credit report they show for our accounts is okay but their "Credit Score" is nowhere near the score that FICO reports for us. It freaked me out so much that I went and bought our score just to check. They report our Credit Score at about 60 points under what the score we bought from myFico shows. It only cost me $8 but now I just use them to check our Credit Reports and I ignore their Fico Score Prediction number.

  3. Thrifty Ray Says:
    April 20th, 2013 at 05:08 pm 1366477710
    1366477710

    As JulieA said, it could be an error....or it could be and ID mix up or theft. Ive never looked at the programs you mentioned, but if they dont give a credit history, it might be good to get that free credit report tha CCF linked in her response. And...good for you for creating such financial independence. Something many of us are working towards and dream about!

  4. Wino Says:
    April 20th, 2013 at 09:18 pm 1366492681
    1366492681

    I get the annualcreditreport listing from one bureau every two months. I rotate my wife and I. This month was hers from transunion, I think. In two months, I do mine from equifax, then I'll do hers from experian, then mine from transunion. As our credit is married, we get a fairly good idea if anything untoward is going on. There are no late payments, only a mortgage balance and a bit of churning on one of our credit cards, debt-to-income very low, and pretty much nothing negative.

    There is no reason for hers to be nearly at the maximum and mine nearly 100 points below hers. Like I said, I just don't understand credit scores. They are completely illogical. I would expect long-term married scores to be very similar to one-another.

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