my score now lists this. What do they do - when you fix the previous negative impact on your score - do they come up with another reason? what the heck does this mean and what do I do about it? I only have a 617 score.
Unless you have a perfect score, they will always have reasons why your score isn't higher. Try and open a retail account like Target. I forget what the score requirement is for their guest card. Put up a post with the heading "What retail card can I get with 617". Do you have any retail cards? I'm assuming if thats your number 1 reason, that you don't. Do you still have any derogs left on TU?
That's exactly what they do. When there are no more "actual" negative reasons, they have to start making up reasons. As George would say: "Profitbility denial" "Excessive income denial" "Wouldn't make any interest off denial"
BOY do I have EXCESSIVE time since last late pay!!! The ONE I did have was FAKE...(the check was at the bank one week before FIRST USA said they got it)...
Cool JUST GOT A tARGET CARD THE OTHER DAY. oRDERED SOMETHING ONLINE AS OUR STORE DOES NOT OPEn FOR A FEW MORE MONTHS. Will not use it again- want a good % left on it to increase score. Maybe when it posts next month score will go up. Only 1 old collection on TU
tina, I did the same thing some months ago. Then I charged all my christmas presents on it. Then TU report "Retail balance to high". It's hard to win this game The collection can't be hurting too bad if it's not the number one reason. But once the retail shows up they'll find more reasons.
I had closed all but 1 of my retail accounts when TU gave me this message. So I "bought it" and reopened another one (it had been less than 6 months since I closed it and the Creditor was thrilled to open it again with the original date) I thought to myself, "aha-- 2 is good, right?" Yet I still got the same message. Started thinking about opening another one until I saw my friend's report with the really high TU and he only has 1 retail account and doesn't get the "too few" message. I read the transcript someone posted here of some state's attorney questioning FICO about scoring and it all sounded like Alice in Wonderland gobbledygook. (If I had a world of my own, everything would be nonsense, nothing would be what it is, because everything would be what it isn't. And contrary wise, what it is it wouldn't be and what it wouldn't be it would. -Alice) Can you imagine TU trying to explain "Too few retail accounts" on the SAME report that has "Too many accounts?" And why one is enough for consumer A, but 2 is too few for consumer B?? We must turn again to Alice: "You see, it takes all the running you can do to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that! Everything is getting curiouser and curiouser -Alice
And while we are talking TU--- I just can't figure them out! Their reason codes have the least connection to reality of the 3 CRA (IMO) In a way, I feel like I don't have a right to complain, because my score isn't *bad* I just don't understand why people with similar reports have scores that are 100 points higher. I've tried paying everything down, which makes Ex and Eq rocket. On TU, my score never moves. And the reason codes are whacko. #1 Too few retail accounts #2 Average balance of retail accounts is too high ($100 out of $8000 CL. $37 out of $3000?????) Next month they will both be zero and we'll see what happens then.) I tried calling to ask a TU rep. THAT was a productive conversation. "We can't guarantee our reason codes." What does that mean???????? If not Alice, then some Orwellian Universe of "Doublethink" where one must hold two contradictory beliefs in one's mind simultaneously, and accept both of them.
1*Way to go this is a perfet discreption of FICO. 2*Welcome to Fico land. 3*This is exactly what's going on and will never end as long as there is scoring!
Credit mix makes up 10% of your total score. The geniuses at FICO have decided that you should have approximately 2-4 revolving cards, 2-4 retail cards and a mortgage. If you have more, less or none in any of the categories you start to lose points. They will always come up with reason codes because nobody can have a perfect score.
