llec
Thanks so much for the info, you broke it down fantastically.
Well even though I am a cheapskate I decided to go ahead and pay to see all 3 fico scores/accounts as my bank only shows the score for Eq, I figured I would see what is actually showing this way.
So here is what I got.
EQ: 662
Trans:661
EX: 652
From the report I realized I screrwed up last month. When I made my CC payment I left too high of a balance, days later when I realized what I had done (or did not do in this case) I paid it off in full. It turns out FICO did not like this blunder and socked our score according to the report. It mentioned the high balance.
Shouldn't this change next month when the CC reports it again. They report every month. I beleive I do need to use like 6-7% just to show it being used, is that correct? Man I HATE this credit game.
Here are the Pros: From the report.
No missed payments
Recent use of credit cards
Cons:
1 Public record : the tax lein
Short credit history
Heavy use of available credit..I left too high of a balance last month. It has been paid in full every other month since opened in June/July.
1 Public record: (tax lein) 2 years 10 months ago.. Any idea how long this hurts, even after it shows paid and if they do not remove it? Paid 1.5 years ago. It also seems they are droping the score for the same thing 2 times. It shows a public record twice, which is the same one. The first one shows it from all 3,the 2nd shows it from TU
2 credit inquiries. 1 for the CC we got and 1 for the 2 mortgage companies all in June of 2013
Few accounts in good standing. We only have two and both are in good standing. The car and CC.
I thought about calling the student loan to have them report to our credit. Do you think this is a good thing or bad thing? It is in good standing but will show a 58K balance.
As far as a mortgage, I already know that is not going to be a problem. We were already approved in June with our average score at 636. This company had a min score requirement of 620. The rate was okay at 4.25% but we knew that our lender options were very limited. We want to build and they do not do contruction loans so we decided to wait and fix our score. With todays scores we sit at 661 as the middle score, not great of course but it opens more lending doors as 640 is the starting point for most. However, with interest rates rising I want our score as high as possible by spring to have some bargining power.
Thanks again.
