The proportion of balances to credit limits on your revolving/charge accounts is too high The proportion of balances to credit limits on your revolving/charge accounts is 19%. The average proportion of balances to credit limits on revolving/charge accounts carried by U.S. consumers is around 36%. Huh??? How is 19% too high if the average carried by consumers is 36%??? Am I missing something?
Is this from a credit card or CRA??? CRA'S have to have some REASON codes (2 or 4)...THEY JUST PICK THEM OUT OF A HAT EXCESSIVE INQUIRES...# of inquires on the credit report...ZERO!!! Try this on on for size~~"TIME SINCE NEWEST ACCOUNT, EXCESSIVE" HUHHH??? OH, SORRRY I haven't opened a new credit card account in 2 years...BETTER GET RIGHT ON THAT!!!
Azur, I have the same reason coming up and my TOTAL utilization is around 19%. But one of my revolving accounts is at 82% utilization. I do believe it's talking about THAT particular account for me. See if you have any individual REVOLVING accounts that are over 50% utilization. Thanks,
This happened to me too. I went into a Mervyn's store and got instant approval for a $300 credit line charging $157. When the new trade line reported, my score sank 19 points and a new negative appeared saying that I was using too much available credit. Overall, I was using 7% and no card was anywhere near 50% except Mervyn's. This is beyond stupid but it does seem clear that applying for these small retail cards is not a good idea unless you are using them to add tradelines for establishing or rebuilding credit. Otherwise, stay away from them.
Re: Re: balances to credit limit too high LOL!!! until i read this I actually did think the reason codes were close attempt! d*mn that fair Isaac...
Re: Re: balances to credit limit too high TU is the thorn in my fanny. They are nuts! The reason on my report is that my "retail " cards are too high and people that buy lots of clothing are high risk. I am not kidding. Ummn, I had a 17 dollar balance on Target and a 50 dollar on Mervyns, that's it. They are now totally paid and actually both credited 20 dollars as I made a payment twice not wanting to miss them while I was in town. Too, many clothes!!!!! 67 dollars worth. They are nuts!!!!!!!!
Re: Re: balances to credit limit too high I had "EXCESSIVE RETAIL"...I had WAL*MART STORE CARD "MAXED"...but the SEARS card was EMPTY...total use under 30%!!! WAL*MART HAD 0.00% FOR SOME GIVEN MONTHS...LIKE 3 OR 4 MONTHS
Re: Re: balances to credit limit too high Another interesting comment is....."The length of time your accounts have been established is relatively short Your most established credit obligation is 321 months old and your newest credit account was opened 5 months ago. The majority of US. consumers have a relatively long credit history - with the average age of their most est. credit account being 14 to 15 years, in addition, the average time since the most recent account opening is 20 months ago." 321 months is 27 years, which they forget about because I opened an account 5 months ago!!!
