New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

AndySoCal,

 

Just to be clear, my 7 month old Equifax reported the CC account  last activity as  December, 2010. The new Eqifax CR dated August 30, 2012 reports that accounts last activity as August, 2012. I detailed it all in the above comments. I have one CC, one revolving account and a mortgage.

New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

UPDATE:  I called and asked for a manager at My Fico. He told me a comment under the CC which I disputed more then 5 years ago was hurting my score. The comment: " Consumer disputes this account information credit card." This is the CC that was showing no activity in the scoring formula, yet I was showing activity for 7 months in a row. I called my CC holder that the account was not in dispute and was settled many years ago. They agreed to send all 4 credit bureaus a request to remove the comment. I pulled the same Fico Eqifax CC today, October 4, 2012 and indeed, the comment has been removed and my score jumped 12 points in 1 month 5 days!

 

That's great.

 

Now what perplexes me even more, today's report pulled 35 days after the last one, downgraded my credit history from great to very good!  The 35 day old Fico Equifax report reported my credit history as great, "your oldest account was opened 20 years 3 months ago" today's new report has it a 20 years 5 months. The old 35 day report says "average age of your accounts 10 years, the new report today has it 11 years.

 

How can this be?!  Why was my credit history downgraded from great to very good?  Today's report clearly shows 2 more months of history and 1 year longer on the average age of my accounts!  ON TODAY'S CC, MY CREDIT HISTORY IS LISTED AS A NEGATIVE FOR THE FIRST TIME!  Stating " You have a short credit history" I just can't understand this. Makes no sense to me.

 

Also, today's CC shows as a positive " You've shown recent use of credit cards"  That was what I was disputing when I opened this tread, since I have now had 8 straight months of activity on this card and the 35 day old report stated as a negative that I was not showing activity on the card. So My Fico at least corrected this and I'm happy about the 12 point score increase.

 

Can anyone offer a reasonable rationale as to why my 20 year, 5 month old credit history was downgraded from great to very good when in fact I now have 2 more months added on as compared to the 35 day old Fico Equifax CC? and also now listed as a negative when it was listed as a positive only 35 days ago? Should I report this?

 

 

Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: Fico Score did not improve after 7 month credit card activity

Was the category that changed "Length of Credit History" or "Payment History"?

 

Did the rankings of the pos/neg items on your CR change (pages 2 & 3)? 

New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity
[ Edited ]

Length of credit history changed from great to very good.

 

yes, as explained above, length of credit   history was a positive , now a negative, "You have a short credit history" New report adds as a positive, "you show recent  use of credit Card." No other change.

 

No accounts dropped off, total of 17.

New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity
[ Edited ]
 
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007
Re: Fico Score did not improve after 7 month credit card activity

If the pos/neg items were shaken up, then you were likely rebucketed. You'll see whacky changeups like #3 becomes #1 or #2 negative turns into a positive or something crazy like that. In comparison to everyone else within your bucket, your history is younger.

New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

What are you saying? Bucket, rebucket? Wacky changeups? What this mean? I'm a newbie.

New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

Sorry, please explain in plain english. 

Established Contributor
jamie123
Posts: 739
Registered: ‎03-22-2012
Re: Fico Score did not improve after 7 month credit card activity

Okay...I'm going to jump in here.

 

Just what are your scores? You always talk about them not moving and then you said they went up 12 points. Up 12 points to what?

 

Another observation if I may....

 

You are trying to maximize your scores with a very thin file. Having 3 accounts reporting every month, your mortgage, your installment and your 1 credit card is VERY minimal activity for FICO to work with. You are expecting fast results without having much activity inside your report every month.

 

You really need to do this, and I know you don't want to hear it but you need to get 2 more credit cards to maximize your scores. If you look around these forums you will find that it is generally agreed that you need 3 credit cards to maximize your scores. Can you do it with 1 card? Maybe, but it will take a while for sure.

 

There are very easy ways to manage 3 cards. Just carry one card in your wallet and use it for three months then put it in your sock drawer and use another card for three months. It really isn't too difficult.

 

If you get a Walmart card and sign up for electronic bill pay you get a free TU08 FICO score every month and they are very generous with credit line increases.

 

Is the credit card you now have provided by a national lender?



Starting Score: EQ 658 6/18/12
Current Score: EQ 665 7/21/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
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New Contributor
fico64
Posts: 61
Registered: ‎09-19-2010
Re: Fico Score did not improve after 7 month credit card activity

Dear Jamie 123,

 

I very much appreciate your comments and your help. Before you jump in, please, if you will, take the time to read my opening comment in this thread and all subsequent replies. I have explained in great detail my concerns  and detailed information.

 

Having said that, I would appreciate a reply in plain English from the moderator who is trying to help with my questions. BTW, my scores are private, I do not wish to publish my private information. Thank you.

 

You have provided constructive comments and yes, Wells Fargo.