I am new here so bear with me. If I leave something, just ask me what you need to know. For some reason my TU score is sagging. Not sure why but all my scores have fallen off a few pointsa from their highs, but TU never got there in the first place! Right now, I have the following: Equifax: WAS 730 NOW 721 (pulled 4/21) Experian: WAS 734 NOW 730 (pulled 2/27) TransUnion: WAS 693 NOW 689 (pulled 4/21) OK, here is the information from the TU report. Top Positive Factors You have 0 accounts that show evidence of missed payments in the past. The majority of U.S. consumers pay their credit obligations as agreed and are never late. For example, over 68% of the U.S. population did not miss a single credit payment in the recent past. (Never, never, never late. Ever.) Your most established credit obligation is 100 months old and your newest credit account was opened 11 months ago. The majority of U.S. consumers have a relatively long credit history - with the average age of their most established credit account being 15 to 16 years. In addition, the average time since the most recent account opening is 22 months ago. (So you know, I am 26, so the 100 months of credit history means what I know it means, that I got my first credit card the day after I turned 18.) Top Negative Factors The proportion of balances to credit limits on your revolving/charge accounts is 84%. The average proportion of balances to credit limits on revolving/charge accounts carried by U.S. consumers is around 36%. (OK, here is the pisser I think. I got a home improvement loan that was $7500. Thing is, it was a revolving account which no one bothered to tell me. Got this waxed though, cause I am re-fi'ing the house next month and this will go to $0 balance. Not sure how much this is affecting my score, but I assume it's doing the damage. Thing is, the credit utilization reads 44% on Equifax and 46% on Experian and they have the same info. Go figure.) According to your credit profile, you have 6 accounts where your balances last reported are greater than $0. On average, U.S consumers carry balances on approximately 4 of their credit accounts at a given time. (Help me here.....are they serious? I mean it's counting my house and my two cars, school loan, personal loan and the home inprovement loan. Counting cars and my home, how can I stay under 6?) Inquiries Total number of inquiries resulting from you applying for credit: 10 (You don't have to be a rocket scientist to know this bad. Guess what they are from? 8, yeah, 8 from the mortgage company doing my re-fi! Is this legal? LOL! Can I send TU something stating all 8 were for the same purpose? The other two were one to rent a car, haven't got my Disney Visa yet which is my first credit card in a couple years and my insurance company (Allstate) pulled a hard.) Negative Items Public Records None on file. Collections None on file. Delinquent and Derogatory information on accounts None on file. All right, I think I have bored you guys enough. I think the obvious is the 84%, but I just wanted to see if anyone else could pick something out, maybe someone with experience with TU reports. Thanks!
Are you talking about your TU fake score or real FICO score? My fake score was where yours is now when I applied for my mortgage and I was surprised to find the real FICO was significantly higher.
A lot of folks don't appreciate the magnatude of the effect of just this one problem. Your debt to limit is 30% of your score calc. I was 2 points away from tripple 800 club and I screwed up. I USED A CARD. Boom my score dumped. Can you get your balances down dramatically? ???
Re: Re: Can anyone help me with TU? Thanks, Butch. This is pretty much what I figured. Oh yeah the balance (it's only one) is going away very soon when I re-fi my house. I borrowed $7500 (paid the other $5000 cash) from a home improvement company to do new windows/soffit/fascia/gutters on my house and they put me with Conseco who in turn gave me a revolving instead of an installment account. Not to mention I actually have a negative factor now for using Conseco. Are they bad news or something? Anyway, the balance is going away early next month. I am not sure how accurate these simulators are, but when I tell it to do the simulation where that amount is paid, my score range goes to 749 to 779. Wow. Hope this really happens!
Re: Re: Re: Can anyone help me with TU? Are they a finance company? If so, that does count against you in FICO land...
Re: Re: Re: Re: Can anyone help me with TU? Marci, I guess so. As a matter of fact, aren't they Conseco Finance. I had no idea really, all I did was fill out the application from the home improvement company. I thought they did their own financing. How bad does having one finance company account hurt?
Re: Re: Re: Re: Can anyone help me with TU? I cannot give you point specifics, but here is a recent thread discussing the problem. My personal opinion is that they hurt initially, but over time they become less important and that for people with no credit or bad credit, the presence of a "paid as agreed" finance trade is better than the absence of any "paid as agreed" trades. http://consumers.creditnet.com/stra...php?s=&threadid=45877&perpage=20&pagenumber=1
1*The majority of U.S. consumers have a relatively long credit history - with the average age of their most established credit account being 15 to 16 years. 2*Guess what they are from? 8, yeah, 8 from the mortgage company doing my re-f Is this legal? WeatherNLU i! ================ 1*They ascertained this from viewing all of those reports which only show positive accounts for 10 years. 2*NO The END ************************* LB 59
Re: Re: Can anyone help me with TU? LB59, is there anything I can do about it? Can I send something to the CRA's?
