Just When We Think We Know, They Change The Rules


And It’s Expensive Not To Know!

It seems like just as we get a handle on how our credit scores are determined, they change the system.  Yes, the basic rules still apply, “pay our bills on time”.  The rest of it seems to change at the whim of each credit bureau, each having their own scoring systems.

So much rides on our credit scores, like car & homeowners insurance premiums, credit card rates, mortgage and car interest rates, bank loans, credit lines, business borrowing, renting, employment, etc.  Shouldn’t they let us know HOW they are scoring us???

What are your thoughts?  Please leave a comment.

Mark Serebrin

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About Safe Haven Credit

I don't much like the pompous attitude of the credit bureaus and the damage they have caused consumers and businesses, so I like to rant about it here...
This entry was posted in bad credit, bankruptcy, chargeoff, credit bureaus, Credit Repair, credit Scores, FCRA, Section 609, short sale, tax lien and tagged , , , , , , . Bookmark the permalink.

5 Responses to Just When We Think We Know, They Change The Rules

  1. Mike S. says:

    I agree, if we don’t know what the rules are, why should we be penalized? I was recently turned down for a mortgage with no lates and no bad credit. Apparently, I don’t have enough credit. And now you tell me I’m being charged more for everything else…not good!

  2. Darren says:

    Mike,
    There are a couple things you can do to help. Opening a new credit card is not always the answer but it might help in your case. Try opening up a store credit card like Sears, Best Buy, Nordstrom, etc…
    In the case of a mortgage loan, most lenders also look at the balances, length ( how long you have had credit ) and how much revolving debt ( credit cards ) and installment debt ( mortgage, car loans, boat loans, etc ) you have.

    If you were turned down by a lender you have the right to know what their decision was based on. The FCRA allows you to pull your own credit for free when you have been turned down for a loan. Try going to http://www.annualcreditreport.com
    Hope this Helps 🙂

  3. David Hope says:

    If we don’t know the rules. then we can’t play the game. I suspect this is what they want so we have to pay them $ to monitor our credit. I was told I didn’t have enough revolving credit and that reduced my score. Penalized for paying all of my bills in full when due.

  4. Scott A. Simmons says:

    Seems to make sense because there are a number of companies and now banks too offering to monitor our credit reports as well as “fix” them.

  5. Kassie says:

    I like the helpful information you provide in your articles.

    I will bookmark your blog and check again here regularly.
    I am quite certain I’ll learn lots of new stuff right here! Best of luck for the next!

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