Q:
Hi mike,
I have a question about why I only have one credit score. I recently pulled a copy of my free credit score report through your site, and only got one score back from Equifax. I thought you got three credit scores. I don’t have any credit cards and any outstanding loans currently. I do have past history but it has been years. I decided a while back to pay cash for everything. I thought you would have credit scores from past history.
Angela Pickerall
A:
Hi Angela,
We see this quite often. There could be several situations going on here. Without actually seeing your credit report I will gives some scenarios. The first problem I see is you don’t have any new or existing credit reporting. So the current credit scoring models don’t have anything to score you on. The current FICO scoring model likes to see the following to calculate your credit scores with each bureau.
• Payment History
• Amounts owed
• Length of credit history
• New credit
• Types of credit used
All of this goes into factoring your credit score with each credit bureau. Its looks like you are lacking all of this, and this is why you don’t have 3 credit scores. Yes one might be scoring you because a creditor is reporting to that bureau only. This is the second scenario. Some creditors only have contracts with certain credit bureaus. They may not have contracts to report information with all 3.
CreditScoreQuick.com
