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Realized I was checking my credit wrong after 11 years

I mean, I always thought pulling my score from those free apps was the same as what lenders see. Then last month I applied for a car loan in Phoenix and got a rate way higher than my app showed, like 6% more. The finance guy asked if I'd ever checked my FICO 8 instead of VantageScore, and I honestly had no idea there was a difference. Turns out my credit card utilization was being reported at 40% for months because I paid after the statement date, not before. That one tip about paying before the statement closes changed how I see my whole credit picture. Has anyone else had a lender quote a totally different score than what you expected?

1 comments

1 Comment

kevin_bailey1mo ago

Financing guys usually quote FICO 9 now, not 8. Different models, different rates.