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Loan question for the class

Discussion in 'Anything goes' started by slappy4428, Sep 16, 2010.

  1. slappy4428

    slappy4428 Active Member

    I applied for a car loan this week from my bank and in discussing it with the loan officer, he said cited my credit score from the bureau they used.
    I thought it sounded low, because I'd run my report against the three bureaus a month ago and it was 35 points higher than what he quoted.
    So this afternoon, I ran my report again and the number from that bureau was the same as it was a month ago. It also showed that the bank ran the credit report this week and the balances on accounts were what they were when I paid bills this month, so it's not like things were missing.

    Should there be two different numbers or did they screw up the first time?
  2. Lieslntx

    Lieslntx Active Member

    I don't know much about this sort of thing, but is it possible that the loan officer is trying to pull a fast one and get a higher interest rate by telling you that your credit score is lower than it is?
  3. slappy4428

    slappy4428 Active Member

    Could, but if it could be proven they'd be in serious shit with regulators, I would think.
  4. Pancamo

    Pancamo Active Member

    Ask to see the credit report. They probably pulled three bureaus and use the middle score. If you are pulling one bureau it may be the higher of the three.
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