Why does my score from experian say 714, but the honda dealership say the score was 0!?

Question

I pay my cell phone bills and credit card bills for only 5 months now, so i realize its not very long at all. I am 18 years old, almost 19. i ran my experian score from freecreditreport.com and they said my experian score was a 714. I was very happy, and tried to see if i can even qualify for a new buyers financing program from honda. they ran my credit and they said my experian score was 0. So when do i actually get a score? and why would freecreditreport.com tell me my experian score is a 714 when experian told honda it was a 0?

Answer 1

they have their own guidlines to rate a persons credit worthyness there is not 1 standard

Answer 2

I agree with Bdancer and the other thing you must understand is auto dealers and lenders look at whats called a "Auto enhanced" version of your credit report and it is nothing like what you get from the regular reports.

Answer 3

freecreditreport.com is a rip off and its not your acctualy score experiene is only one of three credit bureaus and when you first start out your credit it starts at a neutral score. around 620. as you build credit your report will have more hits on it and as you satisfie debts then your score will get better credit cards and phone is not enough go get something financed like a lap top from best buy or something of that nature then make sure your credit card balances are low and try again in 6 months, its not that your score is zero its that your a high risk with not enough experience and no assets.

Answer 4

when they run your credit at a dealership, they use 3 reports.  and usually the middle score is the one that determines your status at a dealership, you should ask them for a copy,  you may need to dispute some things.

Answer 5

They may wish to see a credit history longer than you have currently established.  714 is an excellent score and should get you in the door for a lower interest rate loan.  

Contrary to belief, a dealership wants you to have a lower score so they can charge you a higher interest rate.  With a higher interest rate loan the dealership and lender make more money.  

Shop around and go to another dealer who will sell you a car with your excellent credit.  With a zero (0) credit score they are looking to charge you with a higher interest rate loan claiming you are a risk as a new lender and may ask for a co-signer.  

The dealer is looking to make the largest profit they can off your loan and credit experience. Hold your ground and find a dealer who will sell you the car you want at the price and interest rate that works for you. Ask if a car comes with a rebate from the manufacturer as dealerships are reluctant to admit it to the customer since, they keep this rebate for themself. Best wishes!

Answer 6

Call experian directly and get them to send you a physical report. Also get reports from the other two agencies, then take those to the Honda dealership.

They're saying your score was 0 because they aren't getting a report back for some reason. IE: It looks like you have no credit history at all.

Answer 7

Experian uses Vantage which is a different scale than FICO.  Creditors use FICO.  Best place to get your REAL FICO is MyFico.com.  However, if you have only been paying on those credit cards for 5 months, you don't have a FICO score yet.  Accounts have to be 6 months before they are calculated into your score.  

Your cell phone does not report to the credit bureau and plays no part in your score, unless you default and the account is turned to collections.  Then it would show up as a derogatory item.