I am so dissappointed. I got 2 collections that are a year old removed from my report. My score went up 11 points only. Why is it when they hit your score drops like 30 points but when they are removed it barely goes up? I have this bad feeling somewhere in the computer files we are being penalized even if it is removed. Here are my 4 negatives. Factor 1: TOO MANY ACTIVE ACCOUNTS WITH A BALANCE YOUR CREDIT REPORT REFLECTS SEVERAL ACCOUNTS WITH BALANCES, WHICH HAS A NEGATIVE IMPACT ON YOUR CREDIT SCORE. (I have 2 small cc and 1 lease and this is too much?) Factor 2: LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED IS TOO SHORT LONGER CREDIT HISTORIES PROVIDE MORE PAYMENT BEHAVIOR INFORMATION. MAKING PROMPT PAYMENTS OVER A LONG PERIOD OF TIME ON THE SAME ACCOUNTS MAY IMPROVE YOUR CREDIT SCORE. (Ok nothing I can do about this. We pay the car loans down quickly and are penalized for not wanting more debt). Factor 3: NUMBER OF DELINQUENT ACCOUNTS IS TOO HIGH IN PROPORTION TO TOTAL NUMBER OF ACCOUNTS YOUR CREDIT REPORT REFLECTS TOO MANY ACCOUNTS WITH DELINQUENT PAYMENT HISTORY COMPARED TO THE TOTAL NUMBER OF ACCOUNTS ON YOUR REPORT. (I have ONE, count it ONE, deliquent cc account that was settled 4 or 5 years ago compared to 7 good tradelines). Factor 4: TOO MANY INQUIRIES EXCESSIVE INQUIRIES ON THE CREDIT REPORT HAVE A NEGATIVE IMPACT ON YOUR CREDIT SCORE. LIMITING THE NUMBER OF CREDIT APPLICATIONS YOU COMPLETE MAY IMPROVE YOUR CREDIT (Perhaps if companies would stop putting hard inquires on my report without my permission I could get that 20+ points back from too many inquiries)
Get that last negative off there and you will get a huge boost. I got 70 points I think it was when my last negative was removed from EQ. Gib
I think you are right. My eloan said 'I have been 3 consecutive months late (12) times. The only late/bad thing on my credit report is a settlement from 4 years ago and it was paid fairly soon. They are implying that it was 3 years late and it was not even open that long. Something funny is going on. I sent in the same line of thought to experian through the BBB. They replied today by mail and said they were going to send it to some special department.
