I just got my score-694.Three weeks ago,my qspace score was 628 .One of the reasons for lowing my score is "too many inquiries last 12 months".I only have one in last six months and total three inquiries in last 12 months.I found something interesting about factors affecting my score "shifting balances among revolving accounts,opening up new revolving accounts,and closing down other revlving accounts will not necessarily improve your score,and could possibly decrease your score ".
do you have any other blatant problems with your credit? How many reasons did they list and what were they? I'm trying to figure out if they always list a specific amount and if since they by default list "X" amount of reasons if the reasons sometimes get kinda desperate, ya know? thanks annmarie
According to the scoring model they must list atleast 4 reasoning codes. SO I guess no matter how well you may do they will find 4 reasons for lowering your score.
AnnMarie,I have no negatives on my credit file.Reasons affecting my score 1)length of time accounts have been established (oldest trade line--4 years) ,2)proportion of balances to credit limits on revoling accounts is too high ($14,000 balance ) ,3)too many inquiries last 12 months, 4)too many accounts with balances ( 4 accounts with balances ).
Hey YM I had the EXACT reasoning codes as you, my oldest account is 3 years old, scored 677. I have 5 account 3 have balances
Re: Hey YM Momof3,I have eigth accounts all credit cards ,two were opened last Dec.I think reasons 3) and 4) mean nothing.
DUH... I GOT STUPID REASON CODES ALSO...too many accounts with balances...they ALL have balances!!!, except SEARS. Even though I pay DISCOVERCARD in full every month, it still shows balances. IF YOU DON'T USE AN ACCOUNT, YOUR SUPPOSED TO CLOSE IT!!! I ALSO HAVE NO INSTALLMENT LOAN...but it says, don't go get one if you don't need one, AND THE INQUIRY MIGHT HURT YOUR SCORE (DUH)!!!
