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How this website, myFICO, works in Understanding FICO Scoring

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Anonymous
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How this website, myFICO, works in Understanding FICO Scoring

My subscription just renewed for Transunion, and I noticed "Short Revolving History" is hurting my score Smiley Mad.  I am confused since myFICO shows my first revolving account was openened 12yrs and 2mths ago compared to high fico achievers showing 19yrs.  My history of 12yrs, 2mths is above the half way (10yrs) mark of 19yrs for high fico achievers.  In addition, I never saw this message, "short revolving history", on any of my scores when monitoring through myFICO.  I have been a member of myFICO since 2006.  The only thing changing was my credit card balance increasing to approximately 59% utilization (holiday payback).  I find it confusing how there always seems to be something different hurting your score just when you thought you were doing everything right according to myFICO.  I would now assume that if I cut my CC balance in half, I might see a message, "Not Utilizing Enough Credit" or "Not a Balanced Mix of Credit Utilization".  As a side note, I recently payed this CC down to 38% utilization.  Really, is 12yrs, 2mths a "short revolving history".............

 

02/2012

TU - 759

EQ - 758

 

Smiley Frustrated

Aiming for 780+ across the board

Message 1 of 4
3 REPLIES 3
pizzadude
Credit Mentor

Re: How this website, myFICO, works in Understanding FICO Scoring

 

Assuming that the scores you have posted are FICO scores, you very likely have no derogatory information showing on your reports, so FICO has to come up with something.   Also remember that you are being compared by FICO against others in the same scoring bucket, so FICO is giving you input based on how you compare with others.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 4
Anonymous
Not applicable

Re: How this website, myFICO, works in Understanding FICO Scoring

To avoid any confusion, my subscribtion renewed here at myFICO for TU and EQ (member since 2006).  My scores are myFICO scores; therefore, they are true fico scores.

 

Message 3 of 4
pizzadude
Credit Mentor

Re: How this website, myFICO, works in Understanding FICO Scoring


@Anonymous wrote:

To avoid any confusion, my subscribtion renewed here at myFICO for TU and EQ (member since 2006).  My scores are myFICO scores; therefore, they are true fico scores.

 


Well you're in excellent shape then.   I'm sure once your revolving utilization reports lower that you will be over the 760 score point...

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 4
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