Factor 4: TOO FEW MORTGAGE ACCOUNTS NOT ENOUGH MORTGAGE ACCOUNT ACTIVITY HAS A NEGATIVE IMPACT ON YOUR CREDIT SCORE. Huhhhhhhhhhhhh? My score went up 31pts, and reviewing my file i don't see how, had some disputes the drop dead date is 5/5 all disputed acct still show on the report, maybe they are on the verge of being deleted? I just hadn't seen that reason code before...Hmmmmm TU is comical.
I don't know about anyone else, but I can only afford to pay for 1 house, no matter how many FICO points I'd get for owning and paying on 5 or 6! Anna
I believe they usually use that if you don't have any installment accounts, or too few. I don't think it only applies specifically to mortgages, maybe car loans, secure bank loans too? I'm curious myself.
Odd. I've never had any mortgage tradelines whatsoever and this has never popped up as a reason code. Mid to high 700's. I'm on my third auto loan, however...
I've had that reason pop up on my EQ report one time, befor they started reporting my car loan, and secured bank loan. They still are not reporting my mortgage yet.
My favorite reason code is Experian's CreditExpert for me: "Length of accounts. Your first account was open 18 years ago."
