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Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
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Re: credit balance

[ Edited ]
Article on balances reporting wouldn't post.

Message Edited by smallfry on 08-11-2007 03:55 PM
Moderator Emeritus
fused
Posts: 16,374
Registered: ‎03-12-2007
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Re: credit balance

[ Edited ]


smallfry wrote:
Fused tell you what. Let every tradeline you have report a balance and pull a report and see if you don't get the too many accounts with balances is hurting your score message.


I have the same message and my scores went up months ago! TU up 7, EX up 4 and EQ up 4. I think these messages are created because they can't find any negative items on some of our reports 


Message Edited by fused111 on 08-11-2007 10:03 AM
Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
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Re: credit balance



fused111 wrote:


smallfry wrote:
Fused tell you what. Let every tradeline you have report a balance and pull a report and see if you don't get the too many accounts with balances is hurting your score message.


I have the same message and my scores went up months ago! TU up 7, EX up 4 and EQ up 4. I think these messages are created because they can't find any negative items on some of our reports


Message Edited by fused111 on 08-11-2007 10:03 AM


Maybe it is 4 or less balances including non-mortgage installments? Perhaps if you have 4 cc's and 1 auto installments that might count as 5 balances. Try limiting to just 4 accounts and just for this test if you have a mortgage include that in your total 4 open balances. See if you don't get a score jump. Please share with us your results when updated if you can do this. I currently only have credit card debt so when I tested this I only had 4 accounts open. Perhaps if I had an installment that would have brought me to 5 accounts and I would have needed to pay off another cc to reduce it to 4 accounts. :smileyhappy:
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: credit balance

Mortgages and car loans count against the total. Like fused said we're talking peanuts here but under no circumstances do I buy the let 10 or so accounts report. That's bs. Everything I read says that under 3-4 reporting is best and I have seen some 830+ FICO profiles where only one or two TL's report monthly and the utilization is under 1%. As with EVERYTHING CREDIT, YMMV.

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