I am reading my MyFIco Experian/Equifax reports and they both state that it's hurting my score that I only have 1 account in good standing. I actually have 3 accounts that are "current/pays as agreed" so I am confused. 2 were just opened recently (April/May) but I have been making payments and keeping utilization low. I don't understand why it's only picking 1 up?? Do the new tradelines have to be a certain age before they're considered "in good standing"? I do have late payments on my oldest tradeline - so it might not be considering that one. But what about the other!
You have few accounts that are in good standing.
Number of your accounts currently being paid as agreed1 account
 FICO High Achievers [?]have an average of 6 accounts currently being paid as agreed. |
Your FICO® Score considers the number of accounts where you are paying your bills as agreed - in your case this number is too low. This is because you have very few accounts or because you've missed payments recently on some of your accounts.
What to do about this: Get your accounts in good standing by getting caught up on all back payments and continuing to pay all your bills on time.
If you don't have many accounts, you might consider opening a new credit card. However, the credit inquiry associated with opening a new credit card may lower your score in the short term. Opening a new credit card and managing your credit wisely will demonstrate that you can handle different types of credit.
