12-19-2013 05:10 PM
In October I pulled my EQ credit report/score and it cited "you have an established credit history" under positives. I pulled it again today and under negatives it cited "you have a short credit history". Is anybody able to explain this? I have 24+ years established with no new credit in well over a year, maybe 2.
12-19-2013 06:20 PM
I suggest looking at both EQ FICO reports very closely. The shift from the postitive side to the negative, or vice-versa, can indicate one of a couple of things. It can indicate that something else changed on your report which pushed that once-positive factor into the negative side, which can include dropped accounts, added accounts, changes in utilization on your cards, added baddies, removed baddies, new inquiries, etc. FICO will look for the smallest things to complain about on your FICO report and maybe items that once were bad, are no longer bad and the length of history moved over to the negative side. Along those same lines, changes in your EQ report, like an older history, can also lead to rebucketing. This may or may not be the case for you as not every pos/neg factor change is the result of rebucketing, but if they're all scrambled then it could be that you were rebucketed.
12-19-2013 06:52 PM
Exactly what you explained looks like it happened, although I'm still confused why. The negative became a positive (I understand that one) but the positive became a negative (confused why). I have not opened any new accounts, new loans etc.
Oct 2013 negative: heavy use of credit (23%)
positive: you have an established credit history
Dec 2013 negative: you have a short credit history
positive: you've limited the use of your available credit (20%).