Score factors - I don't get it

Discussion in 'Credit Talk' started by FooBar, Jul 20, 2001.

  1. FooBar

    FooBar Member

    So, on CreditExpert, it lists my top negative score factor as: "The outstanding balances on your revolving accounts are greater than the average in your credit category."

    I'm not carrying any balances at all, so all that is listed is whatever the balances were last time my cards were reported. CreditExpert itself lists my total outstanding balances as $620.

    What's up with this? $620 is too much? What are they looking for? People who never even touch their credit cards? My balances are always going to be like that just due to regular spending.

    And why does my Amex charge card balance count toward the total of revolving balances, when it's not a revolving credit account? Does it do that for everyone, or is this a mistake on my report?
  2. Dani

    Dani Well-Known Member

    The credit reporting agencies usually give you four different reasons for your score. Most of the time they don't make sense. On my Equifax they stated I had too many inquiries in the past twelve months...I didn't have any inquiries in the past twelve months. So, go figure. I wouldn't put a lot into it. It's just to keep you aware of where you stand and how your credit score could be higher. Take it as a good sign that your report is great and Experian had to make-up excuses. Best of luck.

  3. lbrown59

    lbrown59 Well-Known Member

    They don't want you to get it so that they can get you!

  4. Jim

    Jim Well-Known Member

    I like Creditexpert after almost a month of use however...

    It is in a test mode and the the credit analysis, credit simulator don't match exactly with the credit manager or the credit report on a day to basis. They are not all being updated at the same time.

    Having said that - I am keeping the service. It has been very valuable in terms of deleting items, learning how credit scoring can be manipulated, and seeing my score change as things happen.

    Also, where I live 90% of credit pulls are EX.

  5. FooBar

    FooBar Member

    I could buy that, except that I still have a late payment on my report, and they're listing my "high" balances as more significant than the 30-day late payment.

    I'm wondering if they're just smoking a big crack rock. :)

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