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Just Ck'd My FICO Experian Score...

Established Contributor

Just Ck'd My FICO Experian Score...

and they state the only negative factor that's affecting your credit score

 

You've made heavy use of your available revolving credit.

 

 

are they for real?.....yes i just took a vacation and spent about 3-5% of my total overall revolving credit. Can they come up with any better excuse?




"having a credit card is nice, but having cash in hand will always be king"
Message 1 of 8
7 REPLIES
Super Contributor

Re: Just Ck'd My FICO Experian Score...


L-TWT wrote:

and they state the only negative factor that's affecting your credit score

 

You've made heavy use of your available revolving credit.

 

 

are they for real?.....yes i just took a vacation and spent about 3-5% of my total overall revolving credit. Can they come up with any better excuse?


They ALWAYS have to come up with negative reasons, even if there's really isn't any.

For people with >750 scores, just take those negative reasons with a grain of salt. 

 

At one point I had my #1 reason listed as "too many inquiries on file" even though there's only 1 inquiry on my EQ and that inquiry was over a year old, with the #2 reason being lack of mortgage on file. 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 2 of 8
Senior Contributor

Re: Just Ck'd My FICO Experian Score...

You have to consider it in context.  FICO lists the top things helping and hurting  your score.  The most negative thing on your report is utilization, but your score is a 778, which basically means that there is next to nothing wrong with your score.  


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Message 3 of 8
Established Contributor

Re: Just Ck'd My FICO Experian Score...


enharu wrote:

L-TWT wrote:

and they state the only negative factor that's affecting your credit score

 

You've made heavy use of your available revolving credit.

 

 

are they for real?.....yes i just took a vacation and spent about 3-5% of my total overall revolving credit. Can they come up with any better excuse?


They ALWAYS have to come up with negative reasons, even if there's really isn't any.

For people with >750 scores, just take those negative reasons with a grain of salt. 

 

At one point I had my #1 reason listed as "too many inquiries on file" even though there's only 1 inquiry on my EQ and that inquiry was over a year old, with the #2 reason being lack of mortgage on file. 

 


It took me for a loop b/c i'm in the process of trying to take a mortgage, and i know creditor's look ova credit reports with a fine tooth comb!

 




"having a credit card is nice, but having cash in hand will always be king"
Message 4 of 8
Valued Contributor

Re: Just Ck'd My FICO Experian Score...

Message 5 of 8
Established Contributor

Re: Just Ck'd My FICO Experian Score...


my-own-fico wrote:

What's the highest util of a single card?

 

Negative Comment: Heavy Useage at 3%?


Roughly 5%, b/c i'm not try'n to have any negative factors against me when applying for a mortgage




"having a credit card is nice, but having cash in hand will always be king"
Message 6 of 8
Highlighted
Moderator Emeritus

Re: Just Ck'd My FICO Experian Score...


L-TWT wrote:

Roughly 5%, b/c i'm not try'n to have any negative factors against me when applying for a mortgage


It's unavoidable. Your lender will always show the top 4, even if your score were near perfect. 

Message 7 of 8
Super Contributor

Re: Just Ck'd My FICO Experian Score...

As long as you are >750, there's a very good chance you will get the best rate available unless there's something against you, such as your DTI ratio putting you over the lender'a threshold if they were to approve you for the mortgage. That is more of a income vs. debt problem. As long as that checks out fine, you are okay.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 8 of 8