08-19-2012 06:33 PM - edited 12-14-2012 03:23 PM
The PSECU time of the month recently passed, and somehow my EX score wandered into the 800s, which to the best of my knowledge has never happened before. I'm delighted of course, but also a little puzzled, because while my expectation was for a higher score due to a zeroed card, two listed surprises are putting a damper on things.
1. You've recently been looking for credit. It's been a full year, so why is this reason lingering?
2. There are no recent balances on your revolving credit accounts. For the one card with a balance, the loan type is revolving account and the credit limit is reported, but the loan type reports as flexible spending credit card.
TU too doesn't use this card in its util calculation, but EQ does. And unlike EX, my EQ and TU have both stopped saying anything about looking for new credit.
While it's odd that my EX score has gone up, it's even more of a mystery it didn't do so earlier. After all, people have reported FICO EX scores much higher than their EQ or TU; just look at bulbisaur's TU 802 EQ 797 EX 844.
So it looks as if my EX has a brighter future? Certainly it hasn't been elusive to some.
09-01-2012 12:33 PM
Re: 1. It turns out EQ after one year and one month is still saying "You've recently been looking for credit." So just TU has stopped.
Re: 2. A more recent thread discusses a card with a balance, yet "There are no recent balances on your revolving credit accounts."
09-02-2012 10:50 AM
That is a reporting service for your report, it does not reflect the score or true account of things. If you are applying for a loan or credit and they ever use that as a reason you just prove other wise. This is an information systems issue, although components are interrelated they each have their own output because they are analyzing their own set of data, I wouldn't be too concerned about these recommendations if they are not seemingly dampering your score to an undesired number.
09-07-2012 09:54 AM - edited 12-12-2012 04:43 AM
FICO scoring can be so much fun. I put a balance on a second card, one that's used for utilization, and the two things affecting my FICO score have been replaced by two other things.
You have too many credit accounts with balances.
You have a consumer finance account on your credit report.
I guess they just have to list something.
But I do find it interesting that an EX of 819 can be accomplished having more than one card with a balance and at the same time also having a double digit utilization. Wouldn't be correct to say that not a day goes by when these two pieces of advice, a small balance on one card, aren't favored?
Still, the before mentioned 844 may be well out of reach for me, because what if the most you can achieve depends on the state you live in? It might sound crazy enough to be true!
09-09-2012 10:58 AM
I guess they just have to list something.
Yup, I've asked a similar question in the past and someone responded saying that if you have no significant negative things on your credit report for them to mention, they just pick 2 things to put on there anyway even if it's not really a "real" negative.
My EX FICO was 824 for like 3 months in a row then dropped to 762 for no apparent reason. No new loans, no sudden high utilization, no applications for credit. Maybe it's my student loans kicking in since I just finished school and the no payments required grace period ended? Currently climbed back to 782 after 4 months.
PSECU EX FICO currently says I have too many credit accounts with balances (I only have 2 credit cards and one has a $0 balance on it) and too short of a credit history (AAoA should be over 5 years I believe - no idea what would be considered "not short" for history).
Experian FICO (Highest - 5/12): 824 | Experian FICO (12/12): 769
09-09-2012 11:18 AM
My understanding is they list the most negative factors you have. At your levels, which are outstanding, those are the best they can come up with.
09-14-2012 08:40 PM - edited 09-14-2012 08:41 PM
My report says:
1. You have been looking at your score too much,
2. You are not spending enough time outside.
But seriously, wow. You worry way too much about your score, and possibly have way too much time in your hands.
Close the computer, go out, enjoy life a little bit. There is life ouside of EX FICO score.