 Experian new credit check (by Ann [MA]) Apr 20, 2019 11:51 PM
 Experian new credit check (by Johnny B. [MA]) Apr 21, 2019 6:21 AM
Experian new credit check (by Oregonwoodsmoke [ID]) Apr 21, 2019 6:31 AM
Experian new credit check (by J [FL]) Apr 21, 2019 4:03 PM
Experian new credit check (by Mike [TX]) Apr 21, 2019 7:03 PM
Experian new credit check (by JKJ [MA]) Apr 22, 2019 3:06 AM
Experian new credit check (by J [FL]) Apr 22, 2019 3:30 AM
Experian new credit check (by J [FL]) Apr 22, 2019 3:41 AM
Experian new credit check (by Mke [TX]) Apr 22, 2019 7:17 AM
Experian new credit check (by John... [MI]) Apr 22, 2019 8:17 AM
Experian new credit check (by John... [MI]) Apr 22, 2019 8:21 AM
Experian new credit check (by Ann [MA]) Posted on: Apr 20, 2019 11:51 PM
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They are advertising that they will boost someones credit score. Will this affect our assessments of tenants? --66.30.xx.xxx |
Experian new credit check (by Johnny B. [MA]) Posted on: Apr 21, 2019 6:21 AM
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Shouldn’t matter. While the credit report is very useful in screening, the actual numerical score doesn’t tell you a lot. I rely on the details in the report and pay minimal attention to the numerical score. --24.147.xx.xxx |
Experian new credit check (by Oregonwoodsmoke [ID]) Posted on: Apr 21, 2019 6:31 AM
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It's hard to say. If they just play with the score, it won't affect me, but if they are doing it by removing things from the credit report, then that would be bad for me.
It's already a problem that they no longer report all the judgements. --98.146.xxx.xxx |
Experian new credit check (by J [FL]) Posted on: Apr 21, 2019 4:03 PM
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Is Transunion doing this too? --72.188.xxx.xxx |
Experian new credit check (by Mike [TX]) Posted on: Apr 21, 2019 7:03 PM
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They are taking medical and school loans among other things off the reports. Pretty soon there will be no such thing as bad credit. This generation demands everything be given to them for free .... no need to work. --73.166.xxx.xxx |
Experian new credit check (by JKJ [MA]) Posted on: Apr 22, 2019 3:06 AM
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It is only Experian doing this for now. Because they are now using the history of utilities payments when determining a persons credit score it shouldn’t affect LL’s assessment. Prior to this Experian’s reports showed your credit history bit did not include utility payments, now they are also including your utility payments (good or bad). So depending on how they have paid their bills this will either help or hurt them, just like all the things that were on the report before this. --71.248.xxx.xxx |
Experian new credit check (by J [FL]) Posted on: Apr 22, 2019 3:30 AM
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I think it's fine to let them build credit, but I read that if they miss a utility payment it doesn't hurt them? That's the part I don't agree with. --72.188.xxx.xxx |
Experian new credit check (by J [FL]) Posted on: Apr 22, 2019 3:41 AM
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"They are taking medical and school loans among other things off the reports."
Huh? I hadn't heard about this. --72.188.xxx.xxx |
Experian new credit check (by Mke [TX]) Posted on: Apr 22, 2019 7:17 AM
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J.... I read several articles about this a month or two ago and it wasn’t just Experian it was all 3 of them. --73.166.xxx.xxx |
Experian new credit check (by John... [MI]) Posted on: Apr 22, 2019 8:17 AM
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Remember that credit scores are meant to be an indicator of likelihood to make payments on debts and stay current on those payments. A lot of analysis is done to determine what is a good INDICATOR of that. Basically, they have learned that people that happen to have outstanding medical debts or high school loans are NOT significantly less likely to pay other debts. So, that is why they are talking of removing those from the reports -- because they simply are not a good indicator of likelihood of paying other debts.
In other words, people that might have an outstanding medical debt or two because they had no insurance and needed emergency medical care are not necessarily a higher risk debtor because of that.
In my own experience as a LL, I've actually seen pretty much the same thing. We commonly look over a credit report and will ignore outstanding medical debts -- especially when we can sometimes tell that they are emergency room related.
This is all about statistics. It is being removed from reports because, statistically, it is not a significant indicator for what those reports are intended to determine.
- John...
--24.180.xxx.xxx |
Experian new credit check (by John... [MI]) Posted on: Apr 22, 2019 8:21 AM
Message:
Also, note that they were just talking of removing those. From what I can tell, that hasn't happened yet.
Instead, the big change is what was mentioned above: including reporting related to paying utility bills and such. People who have been paying those on time will have a higher score than before.
As a LL, that sounds GREAT to me! Because, in my experience, not paying those utility bills on time IS a good indicator of how they will be with me.
So, I'm actually really happy about those changes coming. I'd love to see more data related to on-time payments of utilities.
Note that they plan to include RENTAL payments too when they can! If I get an application from someone applying to my place and the credit report shows whether or not they have been on-time with their RENT payments for the past 2-3 years?? That'd be awesome! That's exactly the sort of data I want to see.
- John...
--24.180.xxx.xxx |
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