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Why is my FICO score not higher!!

Frequent Contributor

Re: Why is my FICO score not higher!!

Just saw your new comment... the scores you're getting are not FICO scores; those scores are not used by lenders, and the scoring methods they use can be quite different from FICO. If this is something you're concerned about, buy a score report from this site, and you'll get a real FICO score with a full explanation of why your score is where it is.

Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Message 11 of 38
Epic Contributor

Re: Why is my FICO score not higher!!

Message 12 of 38
Member

Re: Why is my FICO score not higher!!

yes, I was on the Walmart site to pay off my credit card, it has a link directly to this site. So, i bought the full report.

Message 13 of 38
Member

Re: Why is my FICO score not higher!!

i did this was what I pulled it from.   heres some of the info:  

 

It only says one thing "You've made heavy use of your available revolving credit."    But, then on the report it says credit utilization 8.5%    Total $45,000 used $3,850 

 

Why is high considered high?  

Message 14 of 38
Moderator Emeritus

Re: Why is my FICO score not higher!!

Overall it's good, but are any of the cards over 10%? You mentioned you were at 20% on some.

 

What other negatives are there on that 2nd page?

 

How recent is your most recent acct?

 

What are the positives on the other side of the page?

Message 15 of 38
Member

Re: Why is my FICO score not higher!!

No, But  at one point I had one card over 60% which was the Walmart card only had a 1,500 limit.   I paid it off, then they increase it to 2,500.  Now it has $300 balance.   but I have visas, mastercards  they all have 5k limits and up.  I never use them. 

 

Everything looks good.   The report is All "A" and one B which is credit history -  oldest account is only 9yrs and 8 months old. 

Message 16 of 38
Frequent Contributor

Re: Why is my FICO score not higher!!

With the history you've given us--good credit mix, low CC balances, no new accounts, few inquiries, no late payments, no public records, no negatives of any kind--it seems like your score should be considerably higher than the 680s. Something is not adding up here. I don't really know what to tell you.

Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Message 17 of 38
Moderator Emeritus

Re: Why is my FICO score not higher!!

A 'B' in credit history? That scoring system is a non-FICO (called VantageScore). Definitely don't rely on those scores or even advice. You can be in the mid 600s with those scores and still have FICOs in the mid to high 700s at the same time.

 

Why did they list that as a "B" though? If you purchased a report via myFICO look on the Accounts page. Look for any red flags. That'll be a good indicator of any specific accounts that are viewed as a negative.

Message 18 of 38
Member

Re: Why is my FICO score not higher!!

Yeah, This has consfued me for years.  Now i am ready to buy a new car.  i should get the best rate. in fact the lowest.   What can I do? 

Message 19 of 38
Member

Re: Why is my FICO score not higher!!

 
Message 20 of 38