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I now understannd why EX hates me thanks to Credit Secure - Heloc is revolving

[ Edited ]
OK, so being the proud owner of an Amex Blue I signed up for Credit Secure free trial.  I looked at the way they split up accounts, and EX treats my HELOC as revolving credit and EQ and TU treat it as mortgage.
 
So my EQ and Tu report, under negative items, say:
 
 Currently, your credit report does not show any significant negative or derogatory information. You can be proud of the fact that you are building a good credit history, so continue with your positive credit behavior!
 
For my EX, apart from the Collection due to drop off in 2 months and 27 days, it says:
 
At least one or more of your accounts has a balance that is close to your credit limit, which may be lowering your score. When your balance is high, this can indicate to lenders that you are likely to overextend yourself. Try to increase the cushion between your credit balance and your credit limit to help improve your credit score.
 
This is a HELOC at about 55%, and it will go up when I buy a car as it a low cost loan for an old used car!!  So this is why EX hates me


Message Edited by MidnightVoice on 12-21-2007 09:39 AM
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving

What is the balance/CL on the HELOC?
 
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving


MidnightVoice wrote:
OK, so being the proud owner of an Amex Blue I signed up for Credit Secure free trial. I looked at the way they split up accounts, and EX treats my HELOC as revolving credit and EQ and TU treat it as mortgage.
So my EQ and Tu report, under negative items, say:
Currently, your credit report does not show any significant negative or derogatory information. You can be proud of the fact that you are building a good credit history, so continue with your positive credit behavior!
For my EX, apart from the Collection due to drop off in 2 months and 27 days, it says:
At least one or more of your accounts has a balance that is close to your credit limit, which may be lowering your score. When your balance is high, this can indicate to lenders that you are likely to overextend yourself. Try to increase the cushion between your credit balance and your credit limit to help improve your credit score.
This is a HELOC at about 55%, and it will go up when I buy a car as it a low cost loan for an old used car!! So this is why EX hates me



They're not supposed to be doing this any more. Timothy had his post for the first time with 20% util, and his score didn't budge. Mine hasn't had much of a balance, but it will show about 23% at the end of the month --I'm waiting, too.

What kind of nastygrams do you get on EX when you pull your FICO's? And are they any different from the ones that are on your EQ and TU? I think those really do indicate how your scores are treating the HELOC, but there are messages on other FICO screens that are misleading. For instance, in the sim, TU includes the HELOC amount in revolving, but it lists it as installment and it's not part of my util., and EX names it as a revolving account but doesn't include it in revolving util.

I'm not sure that the CreditSecure message is reflecting a real FICO effect. On my FAKO's, TU always tells me that my history isn't old enough, and that I don't have enough majors, because it doesn't acknowledge my AU account. But it's treated (for now) as legit.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving



Timothy wrote:
What is the balance/CL on the HELOC?
 



It is at 55% util, and it makes my overall util 20-25%
 
For EQ and TU my util is at less than 10% on every card and overall at less than 2%
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving



haulingthescoreup wrote:

They're not supposed to be doing this any more. Timothy had his post for the first time with 20% util, and his score didn't budge. Mine hasn't had much of a balance, but it will show about 23% at the end of the month --I'm waiting, too.

What kind of nastygrams do you get on EX when you pull your FICO's? And are they any different from the ones that are on your EQ and TU? I think those really do indicate how your scores are treating the HELOC, but there are messages on other FICO screens that are misleading. For instance, in the sim, TU includes the HELOC amount in revolving, but it lists it as installment and it's not part of my util., and EX names it as a revolving account but doesn't include it in revolving util.

I'm not sure that the CreditSecure message is reflecting a real FICO effect. On my FAKO's, TU always tells me that my history isn't old enough, and that I don't have enough majors, because it doesn't acknowledge my AU account. But it's treated (for now) as legit.


EX has no comments on FICO worth noting!!  But this explains why my EX FICO is 100 points lower than the two others - a 6.8 year old collection (on EQ that was worth 56 points to DW when it dropped off last month) AND high utilization
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving

MV- I asked what the CL was because CS did not even blink at me for mine. 
 
It actually changed it to:
Your average credit limit for your major credit cards, such as Discover, VISA, MasterCard, or American Express, is high. This tells lenders that you have enough financial experience, and they will be more likely to see you as a good credit risk
 
When the HELOC was added.
 
Darn FAKO's
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving



Timothy wrote:
MV- I asked what the CL was because CS did not even blink at me for mine. 
 
It actually changed it to:
Your average credit limit for your major credit cards, such as Discover, VISA, MasterCard, or American Express, is high. This tells lenders that you have enough financial experience, and they will be more likely to see you as a good credit risk
 
When the HELOC was added.
 
Darn FAKO's



It also said it was happy with all my high CLs.  But I am talking FICO here, not FAKO.  My EX FICO is almost 100 points lower than my EQ and TU FICOs - and there are now two reasons, and I still think they are worth 50 points each 
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving

MV what is the credit line???
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving



fused wrote:
MV what is the credit line???



The HELOC is $20,000 I think
 
Should I increase it $25,001 to make it an installment loan?  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
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Posts: 16,374
Registered: ‎03-12-2007
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Re: I know understannd why EX hates me thanks to Credit Secure - Heloc is revolving

 > 60K should guarantee it!
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
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