Types of credit "poor" equifax?

breakthecycle · ‎03-21-2011

I ordered a equifax report earlier and it had message on bottom about types of credit as "poor" just wondering why?

I own a home, have a car loan, 5 cc's, and 4 student loans. Seems like a good variety to me. Has anyone else had this on Equifax?

mauve · ‎03-21-2011

I'm not sure what part you're talking about - of course, I'm having an issue and can't currently view one of my EQ reports here right now. On TU, I don't see that particular box. Is it maybe the "new accounts"?

Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around

Take the myFICO Fitness Challenge

breakthecycle · ‎03-21-2011

It has payment history, amount of debt, and one area "types of credit" says poor. I did just close on home in August and opened a Amex couldn't resist that finally!! It has been a frustrating road back but so much info on this board has helped. A couple old baddies left and hopefully be where I want to be.

llecs · ‎03-21-2011

"Poor" isn't used by FICO. Is this a FAKO score and advice you're looking at? If so, ignore it...doesn't mean that FICO would rate you as the same.

breakthecycle · ‎03-21-2011

I got the report off Equifax website. My rating and score says "good" according to them. It was just the types of credit that said poor that had me wondering y?

mauve · ‎03-21-2011

I think their ScoreWatch is the only one that's a FICO.

Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around

Take the myFICO Fitness Challenge

MarineVietVet · ‎03-21-2011

@breakthecycle wrote:
I got the report off Equifax website. My rating and score says "good" according to them. It was just the types of credit that said poor that had me wondering y?

Recently Equifax began selling their own proprietary "Equifax credit score" but this is not an EQ FICO report and score. I suspect that's what you got. If that report and /or score doesn't have the word "FICO" on it anywhere then you indeed bought the EQ FAKO score. Plus their new "Equifax Complete " 3 in 1 monitoring service also has FAKO scores.

As mauve said EQ still sells the score watch product which offers FICO's but you have to look very, very hard to find that on their site.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".