Possible to get HELOC recoded as INSTALLMENT instead of REVOLVING

[BallBounces]

According to EX, my HELOC is listed as a REVOLVING account.  If reported as such for scoring, then this kills my UTI, because it is a large HELOC, and is at the max.  For those that think there is a $ cut off that moves it from revolving to installment, the loan amount is well above 50,000.

Is there a way to have EX more properly code this as a secured installment loan? 

My EX score is significantly lower than TU and EQ,  FiCOs all.

[MidnightVoice]

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VistaV wrote:

According to EX, my HELOC is listed as a REVOLVING account.  If reported as such for scoring, then this kills my UTI, because it is a large HELOC, and is at the max.  For those that think there is a $ cut off that moves it from revolving to installment, the loan amount is well above 50,000.

Is there a way to have EX more properly code this as a secured installment loan? 

My EX score is significantly lower than TU and EQ,  FiCOs all.

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Sounds very, very familiar

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MidnightVoice wrote:

OK, so being the proud owner of an Amex Blue I signed up for Credit Secure free trial.  I looked at the way they split up accounts, and EX treats my HELOC as revolving credit and EQ and TU treat it as mortgage.

So my EQ and Tu report, under negative items, say:

 Currently, your credit report does not show any significant negative or derogatory information. You can be proud of the fact that you are building a good credit history, so continue with your positive credit behavior!

For my EX,  it says:

At least one or more of your accounts has a balance that is close to your credit limit, which may be lowering your score. When your balance is high, this can indicate to lenders that you are likely to overextend yourself. Try to increase the cushion between your credit balance and your credit limit to help improve your credit score.

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I have failed to get it changed

[BallBounces]

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MidnightVoice wrote:

Sounds very, very familiar

I have failed to get it changed

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MV, LOL,  I read that thread just before I posted mine after my search located it.   

I figured I'd start a new one and check your status as well as others with the same issue.  It just burns me that the EX score is SIGNIFICANTLY lower than the other two, and this has to be a very large part of it.  It seems mortgage companies in particular like to use EX, which annoys me even more.

[MidnightVoice]

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VistaV wrote:

MV, LOL,  I read that thread just before I posted mine after my search located it.   

I figured I'd start a new one and check your status as well as others with the same issue.  It just burns me that the EX score is SIGNIFICANTLY lower than the other two, and this has to be a very large part of it.  It seems mortgage companies in particular like to use EX, which annoys me even more.

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My Ex suffers the same way still:

  MyFICO: EX 733 EQ 783 TU 787

[Anonymous]

If it's over 50K - It is being ignored-

Need to find another reason-

Mine is ignored- this is how EX displays it on myFICO

Status as of [?]	Jan, 2008
Date opened [?]	Oct, 2007
Date of last activity [?]	Jan, 2008
Date of last payment [?]	Dec, 2007
Date closed [?]	Not Reported
Account number [?]	XXXXXXXX
Loan type [?]	Credit Line Secured, Revolving
Credit limit [?]	$50,000
Largest past balance [?]	$50,000
Terms [?]	Not Reported
Account Type [?]	Revolving
Account holder [?]	Individual
Scheduled payment amount [?]	$50
Account status [?]	Account is Open

Descriptions [?]

None on Record

Report directly from EX-

Status: Open/Never late.
Date Opened:  10/2007	Type: Revolving	Credit Limit: $50,000
Date of Status:  02/2008	Terms: NA	High Balance: $50,000
Reported Since:  11/2007	Monthly Payment: $41	Recent Balance: $4018
Last Reported Date:  02/2008	Responsibility: Individual	Recent Payment: $0

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VistaV wrote:

According to EX, my HELOC is listed as a REVOLVING account.  If reported as such for scoring, then this kills my UTI, because it is a large HELOC, and is at the max.  For those that think there is a $ cut off that moves it from revolving to installment, the loan amount is well above 50,000.

Is there a way to have EX more properly code this as a secured installment loan? 

My EX score is significantly lower than TU and EQ,  FiCOs all.

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[BallBounces]

Does the amount of your HELOC show up in the report's "Total Balance of Revolving Accounts" calculation?

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Timothy wrote:

If it's over 50K - It is being ignored-

Need to find another reason-

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[Anonymous]

On FICO-?

TU - No

EQ- No

EX- Yes - but it is being ignored-

Not only is is being ignored in UTL-

I had a zero point change on all 3 when it hit-

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VistaV wrote:

Does the amount of your HELOC show up in the report's "Total Balance of Revolving Accounts" calculation?

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Timothy wrote:

If it's over 50K - It is being ignored-

Need to find another reason-

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