02-01-2013 04:38 AM
Hey to all. Just pulled an update Equifax report. Here are some verifable facts: Items hurting your score "Too many credit accounts with a balance and too many credit cards carrying a balance." Total 9 accounts with balances, 1 mortage, 2 auto, 6 cc. All cc's paid in full monthly, current reported util. 6%, (unchanged between both periods). For comparison from last month, 2 additional cc's reported. Also reduced was the category " Amount of debt" from very good to good( reported debt about $ 200. different). The comparison reports were each pulled on the first day of the month for an apple to apple comparison.The alogrithm shows that the additional reporting ccs really tanks your score. (This is temp. only as we used some of our lessor favored cards during these two perods.) Finally, I did loose one positive trade to aging, a closed cc from 1994.
02-01-2013 10:22 AM - edited 02-01-2013 10:23 AM
If you lost a tradeline, I'd be curious to see if by returning the CC balances reported to the original January date returns the score to that, or if it's markedly less still. Still will be some slight differences but that might possibly help ruling out the effect of that history wandering off from an analysis perspective.
Thank you for the post regardless.
02-01-2013 06:07 PM
Sure, I will pull March 1st. I will attempt to get a couple of those ccs off. Since some are joint, I can not control all of the reporting balances/cards. Also next month, I believe that I hit the 4 year mark on my last late payment. It could be interesting. Thanks for your input/responces and Best wishes for Success to you!.