Reply
Member
browe
Posts: 11
Registered: ‎06-30-2007

What is considered "revolving credit"?

I have a mortgage and a home equity line of credit.  On one of the credit reports, my HELOC is considered revolving credit therefore my credit score is much lower.  On the others, it is not and my score is higher.  Is this a reporting problem?  Can it be resolved?
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: What is considered "revolving credit"?

[ Edited ]
HELOCs are normally reported as revolving. Other revolving accounts would be credit cards and charge cards. I would ask the lender to report your HELOC as an installment account for all three CRAs.  


Message Edited by Tuscani on 06-30-2007 07:46 PM
Valued Member
Namtac
Posts: 31
Registered: ‎05-30-2007

Re: What is considered "revolving credit"?

I had a past due utility bill with National Grid and Equifax considered that "revolving" too.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+