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Please help me understand why hubby's score is lower than mine.

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nursepower
Frequent Contributor

Please help me understand why hubby's score is lower than mine.

I have 25 Credit Inquiries. I have numerous CC all in good standing. My FICO is 720

 

My husband in AU on most all of mine and has 2 of his own that have zero balances. He has 2 inquiries and his score is 676. 

 

Why is this? Does he need more credit cards? Or could it be his student loans killing the score. He owes 50K which we have been paying religiously FOREVER!

BK DC 10/18/18
Walmart $400 | Target $500 | Playstation Visa $750 | Petco MasterCard ? | Best Buy Visa $2000 | Cap 1Quicksilver $2500 | Ollo $2700 | Kohl's $3000 | Comenity $3200 | Dell $4000 | Skypoint FCU $5000
Last app 6/2/21
Message 1 of 6
5 REPLIES 5
earlyKY
Regular Contributor

Re: Please help me understand why hubby's score is lower than mine.

Any late payments on the student loans?
Message 2 of 6
gdale6
Moderator Emeritus

Re: Please help me understand why hubby's score is lower than mine.


@nursepower wrote:

I have 25 Credit Inquiries. I have numerous CC all in good standing. My FICO is 720

 

My husband in AU on most all of mine and has 2 of his own that have zero balances. He has 2 inquiries and his score is 676. 

 

Why is this? Does he need more credit cards? Or could it be his student loans killing the score. He owes 50K which we have been paying religiously FOREVER!


Need 3 bankcards at minimum 1 of his own needs to report 1-9% of its CL, 0 gets scored at 30% utilization rate. If there are lates in the SLs that will result in lower score as well.

Message 3 of 6
nursepower
Frequent Contributor

Re: Please help me understand why hubby's score is lower than mine.

He had a late about 3-4 years ago because they increased the minimum payment with no notice to us, so even if we payed every month it wasn't in full apparently. Once I found out we caught up and haven't had an issue since. 

BK DC 10/18/18
Walmart $400 | Target $500 | Playstation Visa $750 | Petco MasterCard ? | Best Buy Visa $2000 | Cap 1Quicksilver $2500 | Ollo $2700 | Kohl's $3000 | Comenity $3200 | Dell $4000 | Skypoint FCU $5000
Last app 6/2/21
Message 4 of 6
gdale6
Moderator Emeritus

Re: Please help me understand why hubby's score is lower than mine.


@nursepower wrote:

He had a late about 3-4 years ago because they increased the minimum payment with no notice to us, so even if we payed every month it wasn't in full apparently. Once I found out we caught up and haven't had an issue since. 


Ok if it was less than 90 day late after 2 years there is noteffect on FICO so its most likely lack of revolving cards and use of such cards, also AAoA is most likely in play as well. He should get more bankcards, use them, keep reported balance to 1 card at 1-9% of its CL and sit back letting them age, b.e sure to get cards that match spending habits and ones that will be used.

Message 5 of 6
hayhayhayday
Established Member

Re: Please help me understand why hubby's score is lower than mine.

sounds like a goodwill letter might be in order for this one

Message 6 of 6
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