Applying For Credit Card

There are literally more than 60 ways of calculating a FICO credit score.  There is the general score method which goes from 300 to 850, and there are specialty scores that focus on car loans, mortgages, or revolving credit, that can range from 350 to 900.  Then, each score can be calculated using information from up to three different credit bureaus, and using either the current, or several older mathematical models. Making for more than 60 combinations of scoring methods overall.

The score provided by Turbo or TurboTax is a “Vantage score” using information from TransUnion. It should be similar to, but not necessarily identical to, your FICO general credit score from TransUnion.

When you are denied credit, the bank is required to send you a letter that explains what information they used, this should include the credit bureau and exact scoring method that they used.  While you wait for that letter, you should get your full credit report from each of the three credit bureaus.  You can get one free report per year from each bureau at www.annualcreditreport.com. (You can also get a free credit report from most of the credit bureaus by going to their websites and signing up for an account, although they may require you to subscribe and will try to sell you additional services.)

Check all three of your credit reports. It’s possible that Lowes used a different credit report that has more negative information about you. Make sure that all of your credit reports are accurate; You can’t remove true negative information but you can appeal and remove incorrect information.