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Why is my FICO score not higher!!

Member

Re: Why is my FICO score not higher!!

No red flags.   Plus they didn't use the A - B ratings on the myFICO.  I didn't have the copy for it on me.  But I was able to pull up another one.  But the MyFICO is the same.  Nothing negative what so ever.   Doesn't even hint that I could be doing something better. 

Message 21 of 38
Member

Re: Why is my FICO score not higher!!

Yeah , those scores I pay no attention to.   But FICO its close on all major bureaus around 670-685

Message 22 of 38
Frequent Contributor

Re: Why is my FICO score not higher!!

Not sure if you mentioned but, when are you paying off your cards? Before statement cut or after? 



Last HP 8/29/14

Message 23 of 38
Member

Re: Why is my FICO score not higher!!

It depends, not always do I pay them off totally.  If I make a big purchase like $500 or more.  I will make 2 payments to pay them off.  Sometimes 3.     But always on-time and no more than 6-7 months to pay off anything. 

Message 24 of 38
Valued Contributor

Re: Why is my FICO score not higher!!


derodge wrote:

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?  



This total you show of $45k that is what you have in "REVOLVING" Credit? 

*8/10/13
Message 25 of 38
Established Contributor

Re: Why is my FICO score not higher!!

Maybe it's a bucketing issue. Maybe something in his file is keeping him at the low end of his bucket.

 

Can someone please step in and explain more about buckets? I'm pretty sure I won't do a good job of it.


Starting Score: 515
Current Score: EQ08 711 EX08 731 TU08 735
Goal Score: 740+

Amex BCP $25k | Discover IT $15.7k | Cap 1 QS $10k | PSECU $10k | Citi DC $9300 | Citi DP $6800 | Barclay Ring $6500 | PayPal Extras MC $5045 | DCU $5000 | Chase Slate $5000 | Barclays AA $4100 | Chase Freedom $4000 | Union Plus $1000 | Target $500
Message 26 of 38
Valued Contributor

Re: Why is my FICO score not higher!!

It is possible that it is the "buckets" Hopefully someone with more knowledge will jump in. But my understanding is this........

If you have a "history" of late payments or BK

High UTL

Low AAoA

Then you can be put in a "bucket" where FICO just will not let your score go up much.

And the only why to overcome that is just time, time of good UTL and no late pays while your accounts are aging. 

*8/10/13
Message 27 of 38
Member

Re: Why is my FICO score not higher!!

maybe too many credit cards? Even thought they dont have balances. Will having to many hurt. One card has a 15k limit. I have plenty. Of credit I don't need. I just want my score to be higher

Message 28 of 38
Moderator Emeritus

Re: Why is my FICO score not higher!!

Something isn't adding up here.  There has to be more to it.  The score is not matching up here.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 29 of 38
Member

Re: Why is my FICO score not higher!!

Yeah, tell me about.  Plus, its not like I can talk to someone.   What can you do?   I haven't had to buy anything big in quite a while.   So this hadn't been an issue.  I have all the revolving credit I need.  But now,  I want to buy a new car.  The time last I bought one my rate was 4.5% which was 4 yrs ago my FICO was 685.   Now rates are 2.5% I should get that rate.   I wish I can show someone my report from the 3 bureaus have them explain to me why score isn't higher.   What in they criteria that makes my rating not as high as I believe it should be.   But again no such thing exist.  You are force to take whatever rating they feel you deserve. 

Message 30 of 38