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Contributor

Be Careful Using Credit Scores from USAA Credit Monitoring Service!

 

I have subscribed to the USAA Credit Monitoring Service for almost a a year, and check it daily.  I look at all three scores for each of the agencies, and receive updates when one changes or an activity occurs that could affect my scores.  This was a big help earlier this year as several fraudulent credit applications were noted and stopped.

 

BUT -- beware.  The scores reported are "highly generalized" ....    When applying for a mortgage with my 788 USAA-reported Experian score, I was un-pleasantly surprised to see the "real" score reported by Experian for a mortgage application was only 694.   A VERY BIG difference for loan approval, but what's 90 points here and there...

 

USAA needs to make a very clear statement that the scores reported in the Credit Monitoring Service may not be representative for important purchases like a home or auto....  things you might really need credit for!

 

A retired Navy 46-year USAA member in Maryland

4 REPLIES

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Weather, thank you for your post in our community. We appreciate your membership, and regret any confusion and frustration this has caused. Your feedback is important to us as we strive to provide products and services that meet our members' needs. I am sharing your comments and feedback with the appropriate area for further review. We appreciate you taking the time to reach out to us today. -Meredith

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OMG. Then what's the point of the credit monitoring service? I recently argued with a car dealership that they had the wrong credit score because it was lower than USAA''s. But reading this post, apparently they're right. Could USAA please explain the reason behind this deception?
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Not happy8, thank you for your post in our community. We appreciate your membership, and regret any confusion and frustration this has caused. For additional information regarding the credit monitoring service, you may contact Experian at 855-246-9506. The hours are: Monday-Friday 8:00 a.m.-8:00 p.m.

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I already talked with the credit monitoring people.  What they told me is what I said in the initial post -- scores are "generalized" .  What I asked them to do was TELL PEOPLE this was done.  That will require they make a few changes to the credit monitoring website.