He pulled a tri merge report for a lady who wants to refinance her home. Her scores were OUTRAGEOUS. One was 796, 787, and 762. He was really excited because her score were so good. She had been in the file since 1968. She had 25 positive entries and no negatives. OF that 25 only 5 were active. This is the interesting part- she had 4 reason codes for each report and their score why her score was low. Now her score wasn't low but the point is no matter who you are you ALWAYS GET 4 REASON CODES ON WHY YOUR SCORE IS WHAT IT IS. One of her reason s was too many inquires in the last 6 months but she only had one in the last 6 months and that was the report the guy had in his hand. So he said those reason codes are generic and worthless. They mean nothing!
The reason that they were worthless in her case was that they were just pulled out of a hat. If there aren't 4 good reasons that you don't have a higher score, the computer just picks 4 to put on the report. In our cases the reasons usually have some meaning.
My husband's report had four reason codes as well. One of them was Too many inquiries in the last six months and the other was too few accounts pays as agreed. Meanwhile, there were no inquiries and he has four accounts on his report, all pays as agreed with no lates and not derogs.
