Doing my ritual CRA pull for TU and low and behold I "bumped" 2 inquiries off TU leaving me with only 3, my score jumped 24 points to 760 (FAKO) ....here's the weird part I got a new reason code and I have NO clue what it means.... Factor 4: NOT ENOUGH BANK INSTALLMENT DEBT EXPERIENCE THE MOST OWED ON THESE ACCOUNTS HAS A NEGATIVE IMPACT ON YOUR CREDIT SCORE. I also lost my last inquiry on EQU and I got a score boost of 4 points to 683. Now, is Doc's trick working
Straight thru TU. I order the FICO about once a month. The FAKO is satisfying to me though cause I know it's higher than the FICO.
Way to go, Kellie!!! Doc P.S. You probably know this already, but what the he##... When your scores climb above the 740-760 range or higher, the FICO reason codes stop making real-world sense. My dad has an Equifax FICO of 810 (let's kill him, lol), and his top myfico.com reason code is the one about length of credit history. What's interesting about that is that some of his tradelines go back to the 1960s and 1970s, but the FICO "reasons" suggest that his score would be even higher if only his credit history was lengthier. Well, I guess that may be true according to mathematical perfection.
My friend pulled his TU the other weekend while I was over there. He has an 858. He had 2 negatives: too many lines with outstanding balances (3 of 5), too much revolving debt ($2k, he pays it every month, he makes over $100k). So I wouldn't worry too much about the negative. I THINK it's saying you need to borrow and pay off a much bigger house loan.
Doc- Your post got me thinking. (UH-OH!) Dosen't it make sense that a person in their 70's or 80's would have a lower FICO because they would be more likely to die before paying off a loan than a younger person? Is an older person REQUIRED to buy loan insurance? Anna
