Here is what just appeared on my wife's CreditWatch reasons for POSITIVE. I just got her last derog removed (a two year old paid judgement) and her score jumped to 757 (from 688 or so). She now has three positive reasons and a single negative reason (too high balances 28 percent, not too high in my book) here is the lame third positive positive reason! Straight from MyFico/Equifax. It is implying the score would be even better if the CL was shown. --------------------------- You have established bank/national revolving credit obligations being reported This factor can arise if you have no open bank/national revolving accounts, or if there is important information (such as the balance or credit limit) not being reported for your bank/national revolving accounts. The presence of bank/national revolving credit accounts (Visa, MasterCard, Discover, American Express, Diners Club, etc.) on your credit report illustrates that you can obtain credit, such as a bankcard, from a lender. Your ability to obtain credit (and use it responsibly) is evaluated by the score. The score evaluates the types of credit in your credit history and will consider your mix of credit cards, retail accounts, installment loans, finance company accounts and mortgage loans. It is not necessary to have one of each, and it is not a good idea to open credit accounts you have no need for, or don't intend to use. Continue to use your existing bankcards in a responsible manner to positively effect your FICO score. ------------------- She has AmEx (12+ years old) and CitiBank with no limit showing (14,700 limit in reality). And Cap1 with 300 limit showing.
You missed a post I put up a few days ago where Equifax talks in detail about this issue... check it out. http://www.jawewers.com/Position ...gh Credit.pdf