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lilacteapot wrote:
I've been getting our score every year since 2001 and with very hard work, it has gone up every single year. Last year's score was 781. I just did this year's and it dropped to 748!!!! Nothing has changed except we owe $8,000 LESS money than last year and one less account with a balance. What's going on here!!! No new accounts opened. No inquiries. No judgements etc. Everything on the report seems accurate so why the drop? Does anyone know?
fused wrote:
What are the credit limits and balances of each CC reporting a balance? My TU went from 792 to 761 with an increase from 6% overall util to 18%.2007~One of my positives states I've limited the use of my available credit.It a side bar it states Ratio of your revolving balances to your credit limits...12%...For FICO High Achievers, this ratio is 7% on Average.2006~You have a low proportion of balances to credit limits on your revolving accounts...12%....The average carried by US consumers is 40%.So my debt has gone down but my credit limits have gone up. And what's wrong with these numbers????The High Achievers must mean something but I'd rather have the trophy if you get what I mean. What difference does it make to be a High Achiever if your score drops like a rock and is less than what it was 3 years ago?
lilacteapot wrote:
fused wrote:
What are the credit limits and balances of each CC reporting a balance? My TU went from 792 to 761 with an increase from 6% overall util to 18%.
2007~One of my positives states I've limited the use of my available credit.It a side bar it states Ratio of your revolving balances to your credit limits...12%...For FICO High Achievers, this ratio is 7% on Average.2006~You have a low proportion of balances to credit limits on your revolving accounts...12%....The average carried by US consumers is 40%.So my debt has gone down but my credit limits have gone up. And what's wrong with these numbers????The High Achievers must mean something but I'd rather have the trophy if you get what I mean. What difference does it make to be a High Achiever if your score drops like a rock and is less than what it was 3 years ago?
Is there a mortage on your reports, open or closed? Balance?
lilacteapot wrote:
No Mortgage. Once our children were grown we decided we didn't want the hassels of owning a home any longer, so we do apartments and listen while maintenance cuts the grass.
Well, thanks bunches, fused, that's just spiffy. Nice to know which bucket I'll be in when I'm 79. sheesh (--sorry lilac, good luck!)
@fused wrote:
I think the typical credit profile of someone in your new scorecard would read like this (yes this is a guess but it's an educated guess as I continue to research this subject; it's almost an obsession for me):credit history of more than 30 years and an average-age of accounts of at least 8-10 years1-2 mortgage TLs with at least one paid3-5 installments and maybe all but one paid8-10 CC accounts with 2-4 open and very low balances(I'm guessing way lower than 9% util) and maybe a couple PIF0 inqs0 baddies of course0 late payments