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luelue

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  1. I believe that Transunion and Equifax both use similar, but different scoring models. The difference seems to be the way they are reporting the account that is unpaid and due to fall off my report at the end of the month. Transunion seems to give it less weight than Equifax. Othwerwise, they both seem to be showing the same things.
  2. Hello I posted this in the Canadian board, but it doesn't seem to get much traffic, and I think that the basic principles will apply to anyone so... I am in the process of rebuilding some seriously bad credit after a divorce. I have one unpaid debt totalling about 1800.00 that will be reaching its 6 year mark at the end of next month, so that should fall off. I have a personal loan that I took out from my credit union a year ago that I have paid diligently, and I have a Capital One secured card I applied for about 10 months ago. I had a 49.00 deposit and they gave me a credit limit of 1000.00. 6 months later after not ever carrying a balance and paying on time they increased me to 4000.00. A month ago, I applied for an unsecured Capital One card and I got approved for a 5000.00 limit, and this week I thought I would try one more time to get a low-rate card, and applied with MBNA and was given a 10,000.00 limit and a rate of 9.99. I have no balances owing on any of my cards, and my loan is only about 2400.00 with 2 years to go on it. No other debt. I also have a cell phone bill that is reporting on my credit report, and I had one 30 day late payment back in 2014, otherwise perfect payment history. I have had the account for 5 years now. However, my credit score is terrible! My Equifax score is 557 and my Transunion score is 720. It's been a year, and when I started out my Equifax score was only 480. I am just frustrated about how slowly the score is increasing. Is there something I should be doing to increase my score faster, or will it improve after the unpaid debt falls off my report in a month? After it does, I will have only positive credit history, although not a very long history. Any advice would be greatly appreciated!
  3. Hello, I am in the process of rebuilding some seriously bad credit after a divorce. I have one unpaid debt totalling about 1800.00 that will be reaching its 6 year mark at the end of next month, so that should fall off. I have a personal loan that I took out from my credit union a year ago that I have paid diligently, and I have a Capital One secured card I applied for about 10 months ago. I had a 49.00 deposit and they gave me a credit limit of 1000.00. 6 months later after not ever carrying a balance and paying on time they increased me to 4000.00. A month ago, I applied for an unsecured Capital One card and I got approved for a 5000.00 limit, and this week I thought I would try one more time to get a low-rate card, and applied with MBNA and was given a 10,000.00 limit and a rate of 9.99. I have no balances owing on any of my cards, and my loan is only about 2400.00 with 2 years to go on it. However, my credit score is terrible! My Equifax score is 540 and my Transunion score is 740. It's been a year, and when I started out my Equifax score was only 480. I am just frustrated about how slowly the score is increasing. Is there something I should be doing to increase my score, or will it improve after the unpaid debt falls off my report in a month? After it does, I will have only positive credit history, although not very long history. Any advice would be greatly appreciated!

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