Because when you go into a car dealership to have your credit pulled, they don’t use the check credit rating free Zanesville same online service that you check credit rating free Zanesville used. Because the credit score that you pull from one of the online services, check credit rating free Zanesville have a different scoring system. Sometimes the scores can be comparable while other times there can be a significant difference. You go into check credit rating free Zanesville the car dealership with your with your chest out thinking you have that elusive 700+ score that everyone tells you that you need to have in order to get a low interest rate.
When it comes time to crunch numbers, you’re told that your interest rate is 9%. Of course you blow a head gasket (no check credit rating free Zanesville pun intended of course) because you’re thinking with your 710 credit score your rate should be in the 4%-5% range. When you ask your salesperson why the interest rate is so high, you’re told that the rate is based on your credit check credit rating free Zanesville score. free annual credit report government Of course you respond check credit rating free Zanesville back telling your salesperson about your 710 credit score that you have. The salesperson check credit rating free Zanesville in turn tells you that your score isn’t a check credit rating free Zanesville 710 it’s a 650! Now check credit rating free Zanesville a 60 point swing in a credit report can equate to several points in an interest rate.
It could be the difference between a 5% rate versus a 9% rate (or more). How much would that cost check credit rating free Zanesville you in finance charges (that scenario could be my next Hub)? But the question that you have running around in your head that you want answered is why the 60 point swing? free credit report year Your argument is you just got your credit score from an online credit reporting check credit rating free Zanesville service the other day. 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 check credit rating free Zanesville credit score. When you went check credit rating free Zanesville 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.
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, to personal check credit rating free Zanesville loans. free credit report card
If your credit file is deep with all the above types of credit, and you had a check credit rating free Zanesville 30 day late payment on check credit rating free Zanesville a car loan your overall credit score wouldn’t be tarnished much assuming that everything else on there was perfect.
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