What the hell is it with these stupid credit places (Experian, Transunion, and the other one) and the places that think your credit score has anything to do with the way you handle your money??????????????
So I go to my CU to see about getting a loan. They get my credit score from one of the companies and even though I have had an account with them for 23 years, my accounts are in good standing and a previous loan with no late or missed payments, they deny me a loan, because of my credit score. I have too much credit - the house, the van, all the bills are in my name, because of my husband's job.
So we figured my husband's only a co-signer on the van, maybe his credit is better. When he went to apply for the loan, his credit score is amazing because there is practically nothing on his report. They denied him a loan because he doesn't have enough credit, even though his score is good.
So you have to have a credit card or a loan to build up credit (revolving credit with consistent monthly payments over time)... but if no one is willing to give you a line of credit, how do you build it up in the first place?
A high score with nothing reporting is bad, a low score with everything reporting is bad. They wouldn't average the two together, but then - two bads don't make a good. . . or something like that!
