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Best Card - Written by: Rockin35 on 2008-04-30

State Farm Rewards Visa®
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Rockin35's Card Review:

The State Farms Visa card is by far the best card I have ever had in my credit history. The customer service agents are just knowledgeable, they know what they are talking about, the website is great!!

Quick NOTE: When I applied for this card a month ago, they gave me a limit of $4000 with 14.27%apr fixed, no annual fee. At the time my FICOs were 734 TU/ 727 EXSP/ 700?? With Equifax I think.

I have already charged my insurance to this card and paid it off last week. MyCreditKeeper just updated for this month (30th) of every month. Now I realize I have ran several applications to get rid of some of my really high interest rate cards, so I exspected a 50-60 point drop in my scores.

But I am posting this message out of sheer importance and demonstrating how different the new models can calculate your scores. Per the old FICO system as listed by MyCreditKeeper they are much higher as opposed to ChaseID/Risk SCores: See Below

Per MyCreditKeeper

As of 04/30/08 (14 Inquiries 2008)

TU: 727

Equifax: 705

Exsperian: 710

Per ChaseID

As of 04/26/08

TU:697

Equifax: 643

Exsperian: 685

Rockin35!

 




Comments On This Review: (2 Total)



Comment 1
Comment Title: Good Credit Keeper Info Rockin35!! From LindaLu on 2008-05-01

Do you think any of these are even accurate..? when I went to experian website itself my score is 20 points less than these sites such as credit keeper... And how long did it take for you to get your score over 700? You seem to get really high limits??? do you have any charge offs or collections, BK, late pays etc. that you were rebuilding from? just want to know how long it takes to get back on track... Thanks!



Comment 2
Comment Title: Scores Accurate???? From Rockin35 on 2008-05-01

Well LindaLu,

I don’t think the scores are accurate with Experian’s website, but MyCreditkeeper appear to be more accurate 2 weeks after my last hard pull inquiry. That should be enough time for the scores to update at the credit bureaus. I have never had any Bankruptcies, Charge offs, Bad debts or collections items. BUT I did have 2 accounts from Citibank that I’ve had since 1992 that were closed in 2004 because I was late on 1 of the cards twice in a year’s time with Citibank, they zoomed the apr to 27% on both so I put them under CCC (Consumer Credit Counseling) whom negotiated the apr down to 9.9. Occasionally Citibank would report it as “Derogatory Status”, they did this 4 times in the last 3 years that I was paying it off. Spoke to customer service and they couldn’t figure it out or who in the Credit Department was misreporting it as all of the payments were on time. That is still a mystery at this time.

My Fico is a 705 with Equifax which appears to grade lower than the other 2 bureaus, but they also tend to report EVERYTHING as opposed to TU/EX whom occasionally have miss reported items on my file in the past. In 2005 my FICO scores were consistently (monthly) around 676, in 2006 it was around 690, in 2007 my scores fluctuated as of September through January 2008 my highest scores have been 747/ or 734. The changes over the years are due to paying down some huge installment loans ($20K) so therefore my score has gone up. What took my brother only a year to do, took me 3 years to do.

I hope this helps. Rockin35!


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