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Which company is the middle credit score? It it not an easy

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chrismiraszek

Joined: 24 Aug 2008
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Posts: 1

43 Magic Points

Subject: Which company is the middle credit score? It it not an easy

Sun Aug 24, 2008 7:09 am

Which company is the middle credit score? It it not an easy ?

fireyone

Joined: 26 Feb 2008
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Posts: 4248

52 Magic Points

Sun Aug 24, 2008 2:46 pm

What do you mean by middle credit score. I am not sure of this so I will check back to see what others post.

Justin

Justin

Joined: 17 Jul 2006
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28944 Magic Points

Tue Aug 26, 2008 12:01 pm

Hi chrismiraszek
Middle credit score is calculated on the basis of your FICO score and is used mostly by the banks while offering you credit. According to this model the creditor looks at your FICO scores of all the three credit reporting agencies, and takes into account the middle score. For example, if your credit score is 640, 650 and 690, the creditor takes into account the FICO score of 650 while determining your interest rates and fees
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Justin

Mary

Joined: 06 Jul 2006
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17411 Magic Points

Tue Aug 26, 2008 1:06 pm

sometimes banks also consider the average score while determining the interest rates and the other charges on loans. In such cases, the banks add the FICO score of all the credit bureaus and divides it by three. The score obtained is taken into consideration by them. As far as I know, this type of scoring is used mostly by sub-prime lenders.
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fireyone

Joined: 26 Feb 2008
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Tue Aug 26, 2008 8:34 pm

Okay this does make sense. I also think it is a fair way of getting a credit score.

fireyone

Joined: 26 Feb 2008
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Posts: 4248

52 Magic Points

Fri Aug 29, 2008 1:20 am

I am not even going there. I was hoping for normal conversation.

anthony

anthony

Joined: 31 Jul 2006
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13582 Magic Points

Fri Aug 29, 2008 4:52 am

Yes,I too think that the average credit score is a much better concept than the middle credit score. This is because sometimes the middle credit score may become too low but in such cases if we consider the average credit score, the credit score may rise. For ex, if three credit scores are 640,660 and 720, the average credit score becomes 673 while the middle credit score becomes 660. However, the mostly accepted credit score is the middle credit score.
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fireyone

Joined: 26 Feb 2008
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Posts: 4248

52 Magic Points

Fri Aug 29, 2008 1:28 pm

Good explanation Anthony. It makes more sense and helps us to understand it better put that way.

REGI
Guest

Subject: CREDIT

Sun Feb 20, 2011 5:02 am

MY CREDIT SCORE IS 608,707,AND 638 SO WHICH ONE WILL THE BANKS USE FOR HOME LOANS

Sabrina Gauthier
Guest

Subject: Middle credit score

Tue Mar 26, 2013 8:25 pm

His question wasnt answered, he asked what company is the middle? Experion,Transunion or Equifax? I'd like to know as well.

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