Just disputed 3 installment loans which were paid, but unrated on my equifax credit report. The lender chose not to update these to an I-1 status and deleted the tradelines altogether instead. The result- a jump in my FICO of 27 points. So those of you with "unrated" but otherwise positive tradelines... get these updated or removed to increase score!
Re: Verdict is in: unrated HURTS s It's probably not because of the I0 status. Was that a finance company? Saar
Re: Verdict is in: unrated HURTS s If they were Sallie Mae student loans, they are counted as a finance company,
Re: Verdict is in: unrated HURTS s Now I didn't know that. I think I will dispute all of that stuff off then!!
Re: Verdict is in: unrated HURTS s Are those Financial Company Tradelines, be remove from CR??? I got 6 tradelines being reported from American General Finance Co. all good trades.
Re: Verdict is in: unrated HURTS s I disputed an un-rated account, my score dropped by 11 points. I think it lowered the avg. age of accounts. Like anything else..... your mileage may very. Gib
Re: Verdict is in: unrated HURTS s I case anyone is wondering... I found this out a while back using qspace.com (I think? or another like it?) When it listed type of account, it showed as finance company. However, I subscribe to ConsumerInfo.com which is owned by the same co. as qspace, and they are currently listed as installment. So I'm not 100% sure now!
Re: Verdict is in: unrated HURTS s actually they were made directly from the university and reported by them. essentially fixed term loans and I suppose they could appear like "finance company" loans. I don't know. As far as the age... these were older tradelines- 6 to 8 years, so if anything the deletion of these tradelines dropped the average age of my credit history.
