General Credit Topics

[dhunter37]

I have been readign the forums for a while and will never truly understand FICO, My credit report has a few 30 days late (3) over a year old, plenty of mix, long history (21 years) yet my scores are TU629, EXP620 Eq600.  My debt utilization is about 50%, but looking at the forums there are many with bankrupties etc, with high utilization that have higher scores....what gives 

Message Edited by Tuscani on 06-21-2007 08:21 AM

[CreditHawk]

FICO scores are also affected by "customer disposition"... in other words, your attitude. The more bitter you are about your own personal credit situation, the lower your score will be.

OK, I WAS JUST KIDDING!

Try getting your utilization down to 20% or less and you might see a nice jump, and you might even try to get a couple of those lates removed with goodwill letters. Good luck and keep a smile on your face!

Message Edited by Tuscani on 06-21-2007 08:22 AM

[masdeocho]

Welcome.  Plenty of people feel your pain, so don't get completely frustrated.  Instead of hating FICO, learn to play the game.  The Credit Scoring 101 thread is a great place to start (see stickies or link in Tuscani's signature).  Without knowing more, I'd say it's your 50% util that's killing your score.  If you can pay that down with on-time payments, you'll see an increase.  Try GWs on the lates also.  Good luck!

Message Edited by masdeocho on 06-21-2007 09:11 AM

Message Edited by Tuscani on 06-21-2007 08:22 AM