I want to refinance my home loan. A KeyBank staff offered me low interest rate. I see 740 and 742 in credit karma, 783 in BOA, 742 in Chase. But after she did the hard pull, she said my score is 736, and she said KeyBank pick the middle one from the three scores from 3 bureau. But if credit karma is correct the middle one should be at least 740. All the offers got worse, rates higher and closing cost higher. And she refused to give me a copy of the hard pull result. (Update: She didn't even ask me to sign anything to do the hard pull, just asked me thru phone. It's too unofficial compared to my experience in Citi) I feel it's like lure and bait. Do I have the right to ask for a copy of the hard pull result? What if she just said some random low number? (Update: not totally random but based on the numbers 740 742 I told her) Should I buy one time report from https://www.myfico.com/pricing/credit-reports? But it says "Your lender/insurer may use a different credit score." which could be an excuse :( Update(9/3): chase did a hard pull today and they told me my score is 745.
You get a free annual credit report. Get it and use it.
Under US law, if you suffer any adverse action because of your credit, you have a right to get a copy of the report and score for free, and the bank is required to tell you where you get it.
This is awesome. Thanks!
The hard inquiry will drop your score a bit. It’s dumb imo, but when lenders check your credit it temporarily lowers it. It sounds like they were pulling a score around the CK/chase one (I think the same bureau and model are used by both) but applying for a mortgage might have dropped it.
750ish is quite low to be applying for anything IMO... That’s barely in the 60th percentile. Vantage scores are inflated and useless and often on a scale that ends at 900 rather than 850. You would need a vantage score of like 830-840 or above to be considered top drawer.
Yea, but I just came to us for no more than 2 years. That's the best score I can get I believe. When I came here I have no choice to use firsttech to get a high rate loan because I have a credit history next to nothing. Now at least I can go with other banks with lower rates
Most of the ones that you get through your CC account or Mint are estimates. Well informed but still estimates. They're consistently 20-50 points higher than a hard check. That's through two purchases and a recent refi.
CK buys access to bureau scores, I’d guess that mint does as well. But there’s no standard scoring model so each score company has different ones. I think CK and chase use the same ones.
To FICO? That's the only one that matters to lenders, iirc
Get experian membership, its 25 bucks a month for full report + score daily. You can get 3 bureau full report once a month I believe. Totally worth it.
Thanks. This is useful
Update: chase did a hard pull today and they told me my score is 745.
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Credit Karma doesn't pull credit scores, they use an estimate that could be at least 25 points off your FICO. Take the L, and lol that you think the bank would say some "random low number", be glad Microsoft doesn't check to see whether you have financial knowledge beyond 3rd grader level.
Does 25 points OFF mean it could be 25 points lower than my FICO? Or also possibly higher?
Either.