New Visitor
youtoo
Posts: 4
Registered: ‎01-30-2013
my trans union credit report and score

I checked my free report at annualcredit.com and then decided to look at my score. For the $10 you pay trans union, I got a non-start score of 894 out of 990 which put me just below A and in the 84% of the country. All of my debts were list as ok. I don't understand the knocks against. its wierd.

 

So is this what this means?

 

1. open more credit cards. Just don't spend any money on them?

2. I refinanced my mortgage to a lower rate 3 years ago. So get this one. I guess my credit score goes up as my mortgage premium goes down? I don't pay points or any extra premium. Interest rates are so low I make more money investing.

3. oldest revolving credit is too recent? Where do I get this? I have 1 credit card that I opened over 20 years ago. I believe I had a few credit cards that have closed from amazon and such cause they gave me $25 off. I never activated them. Is that what this means? These have NEVER been used or even activated.

4. So I need to buy a bigger house with a bigger mortgage? Can someone explain the reasoning of this to me?

 

I do have a car payment. Surprised that wasn't listed here.

What would I need to do to get to the A range. Is there any value in doing? I'm lost. There is nothing I plan to buy right now.

 

 

1.The available credit on your open revolving credit accounts is too low.
Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders usually like to see that consumers have a large amount of credit available to them.
2.The amount paid on your open real estate accounts is too low.
Having little paid down on some accounts may be considered by lenders to be a negative factor when determining creditworthiness.
3.Your oldest revolving credit account was opened too recently.
Time is an important factor for a healthy credit score. Giving the accounts time to mature may allow creditors to better understand how you pay your debts.
4.Your average credit amount on open real estate accounts is too low.
Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders usually like to see that consumers have a large amount of credit available to them.

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