I can tell you , for a while when I bought my house in 2005, I had very high usage on my credit cards. Buying new stuff. That lasted maybe 2 years as I paid them all down. Never late always on time and never the minimum. I paid them all off in 2007. That has been 6 years now. My FICO score have never dipped below 650 even in 2005-07, but never got any higher than 710. Now I believe my score should be 780-800. I have never had and still dont have any negative info, and all my credit cards are now basically paid off. I have 7-8 credit cards 5 have $0 balances. BOA keeps raising the limit on one of my cards its 15k now. I constantly get credit card offers in the mail. Never use any of them. This is just sicking to me.
Yes. Any it's even more there are some cards I used only once. When I bought my house in 05, I did have a lot of credit cards and use them to almost Max. But paid them all off by 07 which was 6 yrs ago. Later when I stop using them they kept raising the limits one BOA card has a 15k limit. Chase card#1, 10k Chase #2 3k, Sears MC 10k, Home Depot 10k, lowes 10k, Macy 3k , JCpenny 5K, WalMart 3k. on the Walmart card has more than $1000 becasue we use it every week then pay most of it off at then end of the month. The HD - $1200, and the Lowes - 800. I just paid off the chase last month but it only had $800 balance.
Just does not add up!!!
Well, if there's one place you can come to talk about the finer points of FICO scoring, it's here.
I think if we break down your report in more detail, we might be able to figure out what's going on. If you're logged in and posting here, you should have online access to the FICO score report you bought recently. Let's go through that.
Start with the account section. List every account on there, whether it's open or closed, and provide the current balance (as listed on the report) and the credit limit/original loan amount.
Next, go to the inquiries section. How many inquiries are showing here?
Next, check the collections section and the public records section. From what you've said, there shouldn't be anything there, but double check to make sure there's no mistake.
I hope that we can figure out what's going on here, because it sounds like something is wrong.
You also have to make sure you continue using all of your credit cards and pay them off each month.
Thanks everyone for your help. Even though credit has never been a problem for me. This shows how important it is to stay on top of your credit report. I never really had a issue because I had all the credit I needed. But, just being mindful of your status and continually checking your report ,not just for errors but even for non-reporting.
I'll have to go through it step-by-step to find out what is missing or incorrect. Right now , I don't see anything.
I'm new here. I found your situation interesting. Following the conversation, it seems like to me you might be better off calling FICO and requesting a audience with a specialist or something like that, to see if that "bucket theory" some of the regulars brought up might apply to you. From what I understood of the defintion, you might have been placed in a "bucket" - a category where your score simply will not be allowed to go up very much due to a long period of poor history (like heavy utilization). While I'm sure you've never missed or had a late payment, it might have been that honeymoon period you had when you bought that new house - you mentioned that for around two years you made many purchases. Sounds like that might have met the so called "bucket" requirement mentioned by someone.
I hope you find the solution. It's intriguing (and a bit amusing I admit) to me that a middle class college kid who's longest account is approaching 2 years has a fico score of 710. Apparently it should go up to 760 within 3 months since I've learned the whole credit utilization thing. I'm not really sure how I lucked out so well on this, but it does mean that there must be hope for you.
Now if only they'd let me get 0% financing on the new 2014 Corvette when it comes out...on a part-time income of $900 a month after taxes. Ha, ha.
Here's my overall question.
If I go over my credit report step-by-step, and don't see any negative information, no indicators or determining factors that would impact my score.
What avenues do I really have? I have done this and waited for over three years and seen little to no movement.
Do I just have to accept the fact of a lower FICO score despite my credit report and history don't reflect it. I don't know of a way to dispute your FICO score.
If anyone has some advice let me know.