I'd been discussing this in another post, but I still can't wrap my head around this one! Thought I'd post the actual report info to see if anybody can shed some light!!
When RSB showed 123 card as closed (USBank won't be reporting til Dec 1st +), I expected to lose some points for utilization going up, and EQ seems to dislike higher util more than TU, but my EQ score hasnt been this low in 2 1/2 yrs!! I lost 25 points!! And TU only lost 2 points!!
Is it really possible for EQ and TU to be this different with almost identical reports?? Can the CFA be costing me this many points??
TU does NOT have the CFA..it already dropped off (closed 2001), and TU is actually showing higher util.
Maybe I'm missing something here, so I'm hoping somebody can shed a little light on my sad situation!!
Understanding Your FICO® Score EQUIFAX 654
- Hurting your score
- 1. Public Record
- 2. High credit usage
- 3. Short account history
- 4. Consumer finance acct.
- Helping your score
- 1. No missed payments
- 2. Not seeking credit
What’s hurting your FICO® score
The negative factors listed here are reasons why your FICO® score is not higher. You should focus on changing the behavior that caused these negative factors. These factors are listed in order of their impact to your score, the first has the greatest negative impact and the last has the least.
You have a public record on your credit report.Number of public records on your credit report
1 Record
Virtually no FICO High Achievers [?] have a public record listed on their credit report.
You've made heavy use of your available revolving credit.Ratio of your revolving balances to your credit limits
34%For FICO High Achievers [?], this ratio is 7%, on average.
You have a short credit history.Your oldest account was opened
15 Years, 7 Months agoFICO High Achievers [?] opened their oldest account 19 years ago, on average.Average age of your accounts
4 yearsMost FICO High Achievers [?] have an average age of accounts between 6 and 12 years.
You have a consumer finance account on your credit report.Number of consumer finance accounts on your credit report
1 accountOnly 12% of FICO High Achievers [?] have a consumer finance account.Consumer finance companies typically grant loans to people with poor credit histories. Their customers often cannot get loans from traditional lending companies such as banks or credit unions. These are often high-interest loans because the consumer finance company is assuming more risk by lending to people with less than perfect credit.
The fact that you have a consumer finance company loan on your credit report means that you represent a higher risk to lenders than someone with no consumer finance loans. Even if this consumer finance account is closed, it will still lower your FICO score. However, its impact on your score will lessen as time passes.What to do about this: You should try to stay current with all of your payments and avoid opening any new credit accounts that you don't need.
What’s helping your FICO® score
The positive factors listed here reflect areas of your credit behavior that are helping your FICO® score. You should continue the good practices listed here. These factors are listed in order of their impact to your score – the first has the greatest positive impact and the last has the least.
You have no missed payments on your credit accounts.Number of your accounts with a missed payment
0 accountsAbout 93% of FICO High Achievers [?] have no missed payments at all. But of those who do, the missed payment happened nearly 4 years ago, on average.
You're not actively looking for credit.Your applications for credit in the past year
1 inquiryAbout 72% of FICO High Achievers [?] did not apply for credit in the past year. Of those that did, about 20% applied for credit just once.
- Hurting your score
- 1. Public Record
- 2. High credit usage
- 3. Short account history
- Helping your score
- 1. No missed payments
- 2. Long revolving history
- 3. Old public record
What’s hurting your FICO® score
The negative factors listed here are reasons why your FICO® score is not higher. You should focus on changing the behavior that caused these negative factors. These factors are listed in order of their impact to your score, the first has the greatest negative impact and the last has the least.
Please note that a negative factor can be provided even if you are better than the national average on that factor. This means that there is still some room to work on this factor.
- You have a public record on your credit report.
Number of public records on your credit report
1 RecordVirtually no FICO High Achievers [?] have a public record listed on their credit report. - You've made heavy use of your available revolving credit.
Ratio of your revolving balances to your credit limits
36%For FICO High Achievers [?], this ratio is 7%, on average. - You have a short credit history.
Your oldest account was opened
15 Years, 7 Months agoFICO High Achievers [?] opened their oldest account 19 years ago, on average.Average age of your accounts
4 yearsMost FICO High Achievers [?] have an average age of accounts between 6 and 12 years.
What’s helping your FICO® score
The positive factors listed here reflect areas of your credit behavior that are helping your FICO® score. You should continue the good practices listed here. These factors are listed in order of their impact to your score – the first has the greatest positive impact and the last has the least.
- You have no missed payments on your credit accounts.
Number of your accounts with a missed payment
0 accountsAbout 93% of FICO High Achievers [?] have no missed payments at all. But of those who do, the missed payment happened nearly 4 years ago, on average.You helped your FICO score by paying your bills on time. Staying current with your bills will continue to help your score.
- You have an established revolving credit history.
Your first revolving account was opened
15 Years, 7 Months agoFICO High Achievers [?] opened their first revolving account 19 years ago, on average.Your FICO score measures when you opened your first revolving account [?] (such as a credit card). Your FICO score was helped because you have a relatively long credit history.
The public record on your credit report happened a long time ago.Your most recent public record occured
12 Years, 1 Month agoVirtually no FICO High Achievers [?] have a public record listed on their credit report.While there is evidence of a public record [?] (such as a bankruptcy or tax lien) on your credit report, it happened a long time ago. Most public records stay on your record for no more than seven years (though a bankruptcy may remain for up to 10 years), but the more recent they are, the greater their impact on your score. As the item gets older, it has less of a negative impact on your score - as in your case.