04-09-2013 10:38 PM - edited 04-09-2013 10:43 PM
Today, I checked both Equifax and Transunion and noticed something new on my Equifax credit report. On the page that is labeled "Understanding your FICO score", the page that has the red and green scales, there is a new category that reads "You have many accounts that are in good standing". I have 8 open accounts that are open and in good standing. These same accounts have been open for at least 4 months and this is the first time that this category has shown on my Equifax report and, I check my report at least once a month. My Transunion report does not show this category. My question: Is this a new category or, does this show up on my report now because my credit report has improved?
04-10-2013 08:36 PM
Take that stuff with a grain of salt. Poke around the understaning FICO scoring section here to get a better understanding of how your score is computed. It's not an exact science but there's a ton of knowledge that's been gained over the years to narrow it down pretty darn good.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO