Regular Contributor
Posts: 203
Registered: ‎07-20-2012
HELP! Credit scoring question! Please everyone chime in!

Experian Credit Score 530

Score Rank4.14%
Risk LevelVery High
Last Month’s Score530

Factors Contributing to your Score:

  •  1. You have no installment loans.
  •  2. You have two or more open credit cards.
  •  3. You do not have any Public Records.
  •  4. You have one or more missed payments.
  •  5. Your average age of accounts is less than 5 years and 11 months.
  •  6. You have one or more credit cards maxed out.
  •  7. Your credit-to-debt ratio is more than 51%.
  •  8. Your average credit card limit is less than $2,000.

Ok, the above snapshot is directly from USAA credit monitoring as you all probably guessed, and is a FAKO obviously. I will be examining very closely these factors above as well as others to get a better understanding of credit scoring. This snapshot was from last month, now this month my FAKO Experian score went up to 587, and currently is actually 606! There have only been 2-3 changes that contributed that I know of, that I will discuss later. But for now, my question is about the negatives 4-8 listed above. I know about #4 and #6 above but have never seen or been advised that your score increases from an average credit limit amount greater than $2k or that apparently 6 years AAoA or more is ideal. Please advise from your experience, has anyone gone from having any of these negatives, to NOT having them and saw increases to their scores? In particular 2, 4, 7, & 8. Thank you for reading and/or responding.  

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012