When you ask free credit score free credit report North Platte your salesperson why the interest rate is so high, you’re told that the rate is based on your credit score. Of course you respond back telling your salesperson about your 710 credit score that you have. The salesperson in turn tells you that your score isn’t a 710 it’s a 650! Now a 60 point swing in a credit report can equate to several points in an interest rate. It could be the difference between a free credit score free credit report North Platte 5% rate versus a 9% rate (or more). How much would that cost you in finance charges (that scenario free credit score free credit report North Platte could be my next Hub)? But the question that you have running around in your head that you want free credit score free credit report North Platte answered is why the 60 point swing?
Your argument is you just got your credit score from an online credit reporting service the other day. free three credit report Well the answer is quite obvious if you sit down and think with a little rational. You went online to some www.yourcreditscore.com web site and got your credit score. When you went into the car dealership, and they pulled your credit they didn’t go to that same site. That being the case, do you think since the car dealership used a different service to pull your credit that your score could be different? You would think it should be the same or worst case scenario close. When you go online and have your credit pulled you’ll receive what I would call a generic credit score. After all, it’s a score based on your whole credit history. free credit reports and scores
Meaning it takes in effect how you’ve paid anything and everything you’ve had credit with; from auto loans, to mortgages, to credit card, to student loans, free credit score free credit report North Platte to personal loans.
If your credit file is deep with all the above types of free credit score free credit report North Platte credit, and you had a 30 day late payment on a car loan your overall credit score wouldn’t be tarnished much assuming that everything else on there was free credit score free credit report North Platte perfect. When a car dealer pulls your credit they are pulling what’s called and Auto Finance Score. In other words, the credit score that they get from one of the three credit reporting services (Equifax, Transunion, Experian), is an auto finance score based more on your pervious auto loans.
So in the free credit score free credit report North Platte scenario above, if your credit file was perfect with all your creditors, but you had a 30 late payment on a car loan free credit score free credit report North Platte your auto finance score will take a big hit. credit expert The bottom line is there are two different scoring systems.
When you go online you’re not getting an auto finance score. You’re getting an overall FICO score which is different than an auto finance score.  Banks that make car loans want to free credit score free credit report North Platte know more about your pervious car credit than how you paid back a student loan.
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