Re: Starting to question Myfico
03-03-2013 07:06 PM
Ok, I'm having a hard time understanding and now be leaving in Myfico ..how do I go from a 651 to 626 after paing my utility down from 72% to 30% and getting a 61/2 year old baddie dropped off my report?
This score decrease may be caused by these 4 new reasons:
- You have a short credit history.
- You've made heavy use of your available revolving credit.
- You have not established a long revolving credit history.
- You've recently been looking for credit.
# 1 the past few alerts haven't said this, why all of a sudden does it state short credit history, it's been 5 months since I opened my first 2 cards.
# 2 I just paid it down to 30% from 72%
# 3 it gets longer and longer each month. Granted 5 months ain'tlong but why throw this at me now?
# 4 haven't append for a card in 5 months and that's my only 2 I have.
Again I'm starting to question this site. Can anyone share some info?
Well 5 months is a short time, no matter how you look at it. It possibly didn't show up before because the collection and utility were your primary reasons for a low score. Remember that your FICO score is only a snapshot of how your file looks at a particular moment. Continue paying down your balances and let your cards age and your score will gradually increase.
The score you get from EQ website most likely won't be your FICO score. And if you do pay for your FICO score there, it should match what is here.
Starting Score: 515
Current Score: EQ 677 EX 642 TU 697
Goal Score: 700+
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