3. You have a short credit history.

[Guardian]

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@Anonymous wrote:

You are speaking very matter of factly and the majority of what you are stating is completely false. Many of us monitor our credit very closely here and I can tell you for a fact that your observations are wayyyy off.

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@Guardian wrote:
I am not bashing anything. I know exactly how the system works and that's why you are having trouble with this because you apparently don't know that NO your statement balance is NOT reported unless its there for at least 30 days. There is a 30 day delay in reporting of all balances.

Simply put, if you get your bill at the end of the month and then pay it in full, it will report a 0 balance for you when it reports to the credit reporting agencies. So that's why they tell you that if you don't carry a balance, you are not really building a credit history overall but you will build great history with the creditor that you are doing business with.

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Noted but a matter of opinion. You are also stating matter factly that anyone who disagrees with your observations is wrong or making false statements, that in itself is false.

[fused]

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Guardian wrote:
I agree. I always thought if the person doesn't have any lates, collections, or other bad stuff, why must they still try and find something negative about you. I know people who are in the top 1% of scores and had credits for 30+ years in good standing and they STILL have negative reason codes like "no mortgage" or some bull like that, I mean come on, isn't the 800+ score enough to get you off our collective asses?

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Once a score is over 800, the negative FICO comments disappear.

[Guardian]

Tim:

I have BofA Visa, HSBC, DMB, Household, Juniper, Cap1 (joint), Dell Pref&Business (cit bank), HP Business (hsbc), 3 GE money backed cards and USBank Business Visa.

As long as I pay each month the full balance, I have NEVER seen a balance except as stated before 2 times with HSBC (self labeled direct one) in the last 3 years, once being about 6 months ago and I have had on average 1500-2700 balance accumulated each month pretty evenly spread.

You don't have to believe it for it to be a fact that I have observed. Even if a fluke, it is what it is and its a matter of record. Why? I have been told by top financial advisors at Wells Fargo, Bank of America, Wachovia and US Bank that its due to the 30 day delay.

[Guardian]

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@fused wrote:

Once a score is over 800, the negative FICO comments disappear.

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That's good to know, I guess up and up we go.

Message Edited by Guardian on 09-18-2008 12:01 PM

[Anonymous]

We all state opinions in discussions, but your blanket statement:  "your statement balance is NOT reported unless its there for at least 30 days. There is a 30 day delay in reporting of all balances." is false.

For example, I have watched my exact Discover card and BofA balances change on my credit reports as quickly as 1-2 days right after the statement cuts. The statements above are just not true. Trust me, there are many here that WISH that was true, but unfortunately, it isn't.

I'm not saying we all have to agree, I am saying that those statements are incorrect.  If you could direct me to where I  stated that anyone disagreeing with my observations is wrong or false I'd love to see it.

@Guardian wrote:

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@Anonymous wrote:

You are speaking very matter of factly and the majority of what you are stating is completely false. Many of us monitor our credit very closely here and I can tell you for a fact that your observations are wayyyy off.

---

@Guardian wrote:
I am not bashing anything. I know exactly how the system works and that's why you are having trouble with this because you apparently don't know that NO your statement balance is NOT reported unless its there for at least 30 days. There is a 30 day delay in reporting of all balances.

Simply put, if you get your bill at the end of the month and then pay it in full, it will report a 0 balance for you when it reports to the credit reporting agencies. So that's why they tell you that if you don't carry a balance, you are not really building a credit history overall but you will build great history with the creditor that you are doing business with.

---

---

Noted but a matter of opinion. You are also stating matter factly that anyone who disagrees with your observations is wrong or making false statements, that in itself is false.

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Message Edited by UpUpUp on 09-18-2008 04:26 PM

[Guardian]

I stand by my statement based on my own experience as you are standing by yours and calling my statement false based on your experience. When you say what I have observed and know to be true is false, that's a blanket statement and supports what I said about your (collectively) position.

With millions in the country subject to the rules, you are judging my statement as false based on a hand full of your experiences. You consider that you are more correct since you have been here longer (my assumption) and I find that wrong.

If everyone is expressing their opinion and sharing their experience, I don't see how my statement is any more blanket than "IS FALSE" based on your collective opinion. I will not argue with you and if you wish me to say I was wrong, fine I am wrong, but that won't change the facts or what I have seen to be true.

It only does a disservice to others to chill or censor contradicting statements as simply false because it doesn't agree with yours. I may not have the legion to come and say they have seen the same and support "my" position but that doesn't by default make your position any more correct. It is up to each individual to gauge their own experience with others and see where it leads them.

[Anonymous]

Guardian, you did NOT make that statement saying it was based on your experience or it was an opinion, you stated that you KNOW how the system works and then went on to to say that no balance will ever report until 30 days after the statement posts. That's inaccurate information. Period. I am not going to waste my time responding to anymore of your posts.

[haulingthescoreup]

Reasoning from one's own experiences, in credit or anything else, to declare that what one has experienced must be true for all is bad logic. At my advanced age, I don't remember the term for it, but I do know that in credit land (1) it's a great way to create credit problems for oneself in the future, by not considering other people's experiences, and (2) it irritates the fire out of others.

As Shnapple's (OP's) original comment seems to have been thoroughly discussed, I feel that this thread has run its course, and it is therefore locked.