Just a quick story I wanted to share as I know a lot of people worry or think about their credit score(s). I'm included in that group!
I had some late payments a few years ago after doing an MBA program and before starting my career that impacted my score. I've religiously monitored my score since those late payments to watch how quickly it rebounds.
My equifax score has consistently improved since to the 750 range, whereas my transunion score is stuck at a measly 675. It doesn't seem to budge. Not sure why that is, but it just seems to be stuck there no matter what.
With that in mind I never applied for anything where I knew the bank used Transunion. Figured it was a lost cause. In reality I'm comfortable with what I have as all my debt is on a "professional" student line of credit at 3% (a hefty sum unfortunately!) and I have a couple of credit cards when needed, but there are still some great offers that catch my eye at times.
Anyways, long story short is that either A) the score shown through Transunion's monitoring program isn't accurate or B) banks don't care all that much....
I recently applied online for the RBC Infinite Avion (assuming I would get shot down as they use TU) and was instantly approved for 20k+. I was shocked. Now that's not to encourage everyone with a "poor" TU score to go applying for cards - my income, TDS, existing debt obligations are all within the appropriate range to get approved, but I still assumed the score would hold me back especially when it came to an instant online decision.
Anyways, the moral of the story is that your credit score isn't the be all and end all. If you're worthy of credit you can likely find it. I spent a lot of time being frustrated over my never-changing TU score but in reality it wasn't an issue.
I had some late payments a few years ago after doing an MBA program and before starting my career that impacted my score. I've religiously monitored my score since those late payments to watch how quickly it rebounds.
My equifax score has consistently improved since to the 750 range, whereas my transunion score is stuck at a measly 675. It doesn't seem to budge. Not sure why that is, but it just seems to be stuck there no matter what.
With that in mind I never applied for anything where I knew the bank used Transunion. Figured it was a lost cause. In reality I'm comfortable with what I have as all my debt is on a "professional" student line of credit at 3% (a hefty sum unfortunately!) and I have a couple of credit cards when needed, but there are still some great offers that catch my eye at times.
Anyways, long story short is that either A) the score shown through Transunion's monitoring program isn't accurate or B) banks don't care all that much....
I recently applied online for the RBC Infinite Avion (assuming I would get shot down as they use TU) and was instantly approved for 20k+. I was shocked. Now that's not to encourage everyone with a "poor" TU score to go applying for cards - my income, TDS, existing debt obligations are all within the appropriate range to get approved, but I still assumed the score would hold me back especially when it came to an instant online decision.
Anyways, the moral of the story is that your credit score isn't the be all and end all. If you're worthy of credit you can likely find it. I spent a lot of time being frustrated over my never-changing TU score but in reality it wasn't an issue.