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  #1 ()
briantompsenrtyfd : I did not understand how it works: you get jewelry to sell them at your own trunk show but at the same time, you can have your own website!
How much is usually sold at a trunk show and how much online?
Do you need both?

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  #2 ()
nanadokilalo : Hey you guys, lets say I want to buy a car from a dealership( used ones) that have cars from $7,000 - $13,000. Which of the credits business reports does the salesperson use to check my credit or they see my fico one? so which one is the one that I can use to buy a car or get a loan to buy a house.
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more..
  #3 ()
BedoPearrr : The scores you get from the 3 credit bureaus are what is called "Vantage Scores" and they have an entirely different rating scale than FICO.

I recently wrote an article outlining the pros and cons of FICO vs Vantage Scoring.

Mortgage lenders primarily use your FICO score.
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  #4 ()
VElorna : Creditors use FICO scores. They pull credit reports from one of the three credit bureaus: TransUnion, Experian, and Equifax. The score is based on the particular credit report.

The only place consumers can get real FICO scores is MyFico.com. You can only get FICO scores for TransUnion and Equifax. Experian doesn't play well with others.

Normally dealerships process financing thru a third party. They review your credit report which is much more important than your score. If you are dealing with a buy here/pay here dealer, they may not even bother to pull credit reports. Most don't bother to report the payment history to the credit bureaus.
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  #5 ()
biohazad : This should help you to understand how credit scores work..

FICO scores from 300 to 850 and Vantage Plus scores from 501 to 990.

Here is the breakdown for both systems.

Vantage Plus system scores from 501-990.
A-901-990
B-801-900
C-701-800
D-601-700
F-501-600

FICO system scores from 300-850.
Elite-740-& up
Prime-700-739
Preferred-660-699
Standard-625-659
Sub-prime-624-& under

FICO is the only one that matters since it's the one that all major lenders look at.

So as you can see it depends on if your looking at a true FICO score or a Vantage plus score.

As far as what makes up credit scores it's the following;
1. Payment history (longer the better) 35%
2. Time in bureau (longer the better) 15%
3. Types of credit (mix of credit cards & installment loans) 10%
4. New credit (new accounts and inquiries) 10%
5. Debt to credit ratio (lower the better) 30%

Things that don't effect your score.
1. How much you make or how long you have been on your job.
2. Where you live or how long you have been there.
3. Any account not considered real credit like cell phones, rent, utilities, insurance or gym memberships.
4. If your a registered voter or not.
5. Having a checking or savings account.
6. How wealthy you are.

So as you can see credit is based on opening and paying accounts. So without that you would have no score at all.

The credit bureaus use different scoring systems, Equifax scores from 250 to 843, Experian from 253 to 893. Transunion from 250 to 877.

There are also 3 different types of scores. The standard that you see, the auto enhanced that only auto dealers and lenders see and the factual which only mortgage companies and lenders see.

So each person can have 12-15 different scores none of which will match. Great system huh. Add to this the fact that all lenders do not even report to all 3 credit bureaus and some don't report at all and you begin to see the problem with our current system.

As far as a real score goes, go to myfico.com it will cost $20.00 but you will get a real FICO score. You might also go to annualcreditreport.com and print out all 3 of your reports for free, no reason to pay a credit monitoring service.

Good luck.
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  #6 ()
dypeadusYpe : I'm being taken to court later this month over an old credit card debt. The credit card company sold the debt to a smaller parasite debt collector. I intend to pay it off at some payments ($100/month, $4500 in total). Should I get a civil lawyer? I don't want to get steamrolled in court, should I hire a lawyer?
I was just sent a letter that I had a court date thru the mail.
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  #7 ()
serrlokkins : yes need to hire a lawyer
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  #8 ()
IniliRonSoync : Is this your debt? Have you been served a summons? Did you respond to that summons within the time allowed? If you failed to respond to that summons or if you don't have any legal reason that you don't owe the debt, the collection agency is likely going to get a summary judgment.

You chance to negotiate a settlement was BEFORE they sued. Collection agencies are not likely to accept payment plans that take more than 6 months to pay the debt in full. You probably could have settled that debt for 25% to 50% in a lumps sum BEFORE the lawsuit.

Now you might be able to settle for 80% or 90% in a lump sum and maybe get them to dismiss the lawsuit. That would prevent the judgment from further damaging your credit.
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  #9 ()
Steelioth : I'm only 13, and I've been make a lot of money recently. I want to know if I can get a Discover Card under my mother's account. I'm not much of a spender, and I don't trust my little brother when it comes to a jar of cash. If I do want to spend, would I have to withdraw from the account, or can I just use the card itself? Thank you.
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  #10 ()
EasedSokStoks : The only way to get a card would be through a parent at your age, so ask your mom if she's willing to help out. She might not be - she'll be responsible for any spending you make.
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