Is a mortgage good/bad on CR?

Discussion in 'Credit Talk' started by laurie33, Aug 12, 2003.

  1. laurie33

    laurie33 Well-Known Member

    I'm just wondering what other's experiences are concerning having a mortgage listed on your credit report. Does it help or hurt your score? Ours isn't listed on our CR's and I'm wondering if I should pursue getting it on there. Thanks!
  2. Platinum

    Platinum Well-Known Member

    No doubt it's good to have on your CR.
    How old is the account ???
    Some lenders do not report for the first 5 months.

    GEORGE Well-Known Member

    IT CAN ONLY BE GOOD...unless there are LATE PAYMENTS
  4. laurie33

    laurie33 Well-Known Member

    We're going on a year now. But the mortgage is through the USDA Rural Development so I don't know if special reporting (or non-reporting?) applies to government programs. I'll bet if we were ever late they'd show up on the reports immediately (lol).

    Platinum, if you don't mind me asking, how did you get such high credit limits and low apr's? You must have some great scores!
  5. Platinum

    Platinum Well-Known Member

    My FICO is not goes from 720 to 750. That is because of short history ( 6 years only ). I've got those limits and APR's by calling the issuers regulary. If you don't have any derogs I believe anyone can achieve it. When I am calling them I just have to make sure my balances are at $0 or $0-$100. That's it.
  6. marci

    marci Well-Known Member

    My mortgage reported and dropped my EQX score from 720 to 703. It is now at 710 three months later.
  7. Mirage

    Mirage Well-Known Member

    I'm pretty sure a mortgage is good for your FICO. My question is that in the last three years my mortgage has been sold or I had refinance so my credit report has a rash of open or closed or transferred. Yuck....

    Best regards,
  8. prd2b

    prd2b Member

    Mine started reporting immediately. It helped my scores.
  9. laurie33

    laurie33 Well-Known Member

    I see now that is it reported on my TU for sure, but my (not)worthknowing score is a rotten 29 right now from a BT that posted to my account, but is still showing the amount on the old one. Sigh..... It's not reporting on EQ and I'm not sure about Exp though.

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