     Sheerintensity (Sheerintensity) | Friday, April 27, 2001 - 10:24 am 
Hi,
E-Loan.com is now offering credit score again. It doesn't appear to be a FICO score however, you can get a good idea of where you stand from it. The best part is it if Free and goes on your credit report as a consumer inquiry which does not affect your credit score.
Here are my differences:
e-loan.com - 603
equifax - 552 |
| Koona (Koona) | Friday, April 27, 2001 - 01:28 pm
YOU might look at this before you pull your score.
Every one might want to wait on this and here's why.
I got my score 40 minutes ago with the understanding this was a consumer request(soft inquiry).Just pulled experian and there it was ,big as day, a new HARD inquiry from mortgage company
pulled today.E-loan, is clueless on this. I have the Pres. of credit info.net explaining to e-loan they can't advertise it as a soft inquiry when it a hard pull.More to follow.
Please understand I value the inroads e-loan has tried to make and we owe them greatly, but this is a major BOFU.
More to follow |
| Koona (Koona) | Friday, April 27, 2001 - 01:31 pm
I got some very interesting info.This is not a FICO score but a program by creditinfo.net that emulates
fico. It also tends to be 10-25 points more generous than fico on average...
I recommend everyone who used e-loan go to the E-loan web page and PRINT a few pages that say the score will be a consumer request for credit and therefore should not count against your score.
Unless you love hard inquiries... |
| Christine Baker (Admin) | Friday, April 27, 2001 - 01:57 pm
Wow, thanks so much for the update. It's just AMAZING what goes on.
Also, everybody should understand that E-loan gets so much FREE publicity and everything they do in support of "consumer credit rights" brings in immense amount of business.
Apparently E-loan is looking for more biz ... I'm getting 10+ mortgage spams a day, the refi boom is on.
Does anyone know if they have a forum? |
| Christine Baker (Admin) | Friday, April 27, 2001 - 02:12 pm
From the E-loan FAQ
Will an inquiry appear on my credit report when I request my CreditXpert Credit Score™?
The request for the credit report used to create the CreditXpert Credit Score™ is classified as a consumer request for a credit report. Therefore, it should not appear on the copies of your credit report that are supplied to lenders, and should not have a negative impact on your credit rating or credit score."
Notice the word SHOULD everywhere?
I just read their recommendations on improving scores.
"Limit your credit accounts to what you really need. Accounts that are no longer needed should be formally cancelled since zero balance accounts can still count against you."
They either don't have a clue or they get paid by someone to spread this crap.
E-loan sucks as bad as the CRAs, they're in it for ONE thing only: YOUR money! |
| Koona (Koona) | Friday, April 27, 2001 - 03:31 pm
Christine, I respectfully disagree with you.
There' s more to this, but try and remember E-Loan
went to the wall,stoodfast in their belief that consumers should get their fico scores last year.Not only did E-Loan lose their ability to get scores but the company supplying E-Loan with the reports was shut off from experian,losing their ability to supply over 600 banks with reports until they agreed to stop.What E-Loan did was truly amazing.After being shut down by experian they lobbied their case in California and were the driving force for California requiring scores to be avail.to everyone.
You think this had to do with money? No.
This had to do with the same emotions we on this board feel morning,noon,and night, that what was going on wasn't right and they were going to fight this with their last human and corporate breath if need be.That feeling in your gut that keeps you up all night because you know your right.That feeling of frustration of not being able to change what is hopelessly flawed.
And the company who supplied E-Loan w/scores even after being threatened by experian with lawsuits is also deserving of my respect.This again wasn't for money.It was for the same emotions as E-Loan, but stronger, much stronger.The
same reasons that they lobbied for fcra passage in the early 70's when no one understood or cared about the implications. And Won.
I firmly believe this will be resolved properly next week.
Fcra do not begin to go far enough, but imagine
what life with no Fcra would be like.
I'm taking my soapbox home now...
Koona |
| Christine Baker (Admin) | Friday, April 27, 2001 - 06:02 pm
Koona, who is that company that supplied E-loan with the scores?
Maybe I could finally get back into business myself? If I could get credit reports again, I could actually make a living.
I'd like to believe that E-loan had reasons to give out the scores other than lots of free publicity.
But why is their advice to improve credit scores so bad?
Why doesn't E-loan have a link to this forum or any other board instead of this really bad advice?
Why doesn't E-loan provide an actively monitored forum to further the cause of increasing consumer credit rights?
Personally, I am VERY sick of the hassles and expenses of running this forum, the ongoing problems with web hosts and forum software.
Maybe I missed it, but I saw nothing but marketing at the E-loan web site.
As always, I say "Follow the money." |
| Dangelo Sinclair (Amistad) | Saturday, April 28, 2001 - 03:37 pm
BTW Eloan is getting the score from the same place QSPACE does. |
| Patricia Holly (Househunting) | Tuesday, May 01, 2001 - 10:11 am
Another update. The wording has since changed on the site! Check out what it says now:
Will an inquiry appear on my credit report when I request my CreditXpert Credit Score™?
The request for the credit report used to create the CreditXpert Credit Score™ is classified as a consumer request for a credit report. Contrary to earlier information, the credit bureau has indicated that this will appear as an inquiry on your credit report. Although the impact should be minor, requesting your score at this time could have a negative effect on your score since lenders consider frequent inquiries to be a sign of a riskier borrower. We are currently working to resolve this issue so that you can view your score without any impact.
I got nailed on this already. LOL. I sent the dispute on the hard inquiry out this morning. I'll let you know if I am successful getting it recoded. I am not holding out hope. . . |
| Ann (Momof3) | Tuesday, May 01, 2001 - 10:20 am
Yes I got suckered as well. But I must say there scores are WAY off, my eloan score 704, true experian 673, husband's eloan 696, true score 617, I got my true scores from my lender, luckliy the inquiry didn't hurt I was apporved for my FHA loan |
| Patricia Holly (Househunting) | Tuesday, May 01, 2001 - 10:23 am
Fantastic! Wow, all that hard work must of really paid off for you. I hope I have a similar story to tell some day. . . |
| Ann (Momof3) | Tuesday, May 01, 2001 - 12:48 pm
You will Patricia, my scores in October were 540, 540 and 560, yikes. I am now happy to report them as 647, 673 and 675. How TU is 647 is beyond me they all for the same information, but I gave up trying to figure out scoring a long time ago. |
| Christine Baker (Admin) | Tuesday, May 01, 2001 - 01:40 pm
I'm VERY glad you got the approval, Ann!
I want to point out that I don't think that this Experian score is trying to imitate the FICO score. It is just more complete waste of time and inquiries - we've been through that with Qspace.
OBVIOUSLY, people are even MORE confused by adding this score. Experian wants a cut of Fair Isaac's market share, and E-loan partnered up with them - to make a buck. |
| Amy Duncan (Amydd) | Tuesday, May 01, 2001 - 09:26 pm
Ooops I had posted what somebody else had already stated. |
