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Fico score help

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Anonymous
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Fico score help

TransUnionDate: 7/1/2008
EquifaxDate: 7/10/2008
ExperianDate: 7/10/2008
   
This is my score as of today. The ratio of revolving credit varies though;
TU 67% with 14 open accounts with balances
Equifax 54% with 14 accounts with balances
Not sure on Experian since they have my second mortgage listed under revolving.
 
As to the 14 accounts, yes that is alot but 2 are 1st and 2nd mortgage and 2 are student loans that I cosigned with my oldest son and they are deferred. I have only piggyback account since I am an authorized signer on my moms BOA account., and one is a car loan. So actually the revolving credit is based on 9 accounts which two I will be paying off soon. I have a couple of late pays that I am going to try again with GW letters to get the removed. One late pay is for April and May of 2007 and the other is Dec 07 and Jan 08 of this year. Feel I was unjustly penalized but that is neither here nor their but I need to get them removed. My question is on the utilization why the differences when they have the same accounts and amounts for what I can see? Are those late pays causing most of the damage?
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Anonymous
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Re: Fico score help

The formula is slightly different in the case of each bureau so they grade your credit reports slightly differently (even if they are exactly the same).
 
Your utility, # of revolving accounts reporting a balance, and lates are all hurting you. How many days late were each of the lates?
 
Between overall utility and accounts reporting you could probably gain 60-80 points by paying down almost every revolving account and only letting a couple of cards report a balance.
 
The rest is likely your lates.
Message 2 of 4
Anonymous
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Re: Fico score help

I was late (not really though) with Chevron and it was not on my credit file until this past March of this year when GEMB bought their credit card. I was 30 days late for April 2007 and 30 days late for May 2007. The situation with that is that out of the blue they doubled my payments from $160 a month to over $300. I only paid what I normally did for both of those months and then paid it off since there reasoning was stupid. I was never in the years I was with them (1999) ever late and for them to do that was ridicoulous. The other was with my mortgage, I was inbetween jobs and even contacted them to get some assistance and explained my situation but they still marked me 30 days late for Dec 2007 and Jan 2008. I have been since then employed and current with all other payments.
Message 3 of 4
Anonymous
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Re: Fico score help

Do you think if I possibly get the lates removed that my score will move up enough to refinance my house at a decent rate?
Message 4 of 4
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