topic Re: If this is true, we're all doomed.. in Credit Cards

If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 21:47:44 GMT

Don't you love the negatives on the Fico report?

Does anyone else get this with a pretty decent acct age? I'm finished opening accts for awhile, but sheesh!

You have a short credit history.

Your oldest account was opened
17 Years, 8 Months ago

FICO High Achievers opened their oldest account 19 years ago, on average.

Average age of your accounts
5 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

Re: If this is true, we're all doomed..

unknown_entity — Tue, 15 Apr 2008 22:25:33 GMT

LOL, you're lucky it dont look like this:

Your oldest account was opened
3 Years, 9 Months ago

FICO High Achievers opened their oldest account 19 years ago, on average.

Average age of your accounts
11 months

Most FICO High Achievers have an average age of accounts between 6 and 12 years.

I just added 4 accounts that haven't reported yet either.... Good LAWD!!!!

spell edit

Message Edited by unknown_entity on 04-15-2008 06:25 PM

Re: If this is true, we're all doomed..

ficonovice — Tue, 15 Apr 2008 22:30:03 GMT

Hey peas. I think TU just flipped another switch in their reporting. I too just received those 2 items as my only negative factors. My average age is 6 years!!

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:31:03 GMT

LOL - but it makes me wonder when it will catch up with itself and realize that my history really isn't that short! Maybe when it hits 19 years and 6 average it will perk up, but sheesh! and double sheesh!

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:33:51 GMT

ficonovice wrote:
Hey peas. I think TU just flipped another switch in their reporting. I too just received those 2 items as my only negative factors. My average age is 6 years!!

Yup, this was on TU report. However I'm thinking it was on EQ as well...

ETA: This was also on my EQ report, but it's the #2 reason instead of #3! Hoot!

You have a short credit history.

Your oldest account was opened
17 Years, 8 Months ago

FICO High Achievers opened their oldest account 19 years ago, on average.

Average age of your accounts
5 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

Message Edited by WhirledPeasPlease on 04-15-2008 06:33 PM

Message Edited by WhirledPeasPlease on 04-15-2008 06:33 PM

Re: If this is true, we're all doomed..

ficonovice — Tue, 15 Apr 2008 22:34:37 GMT

My EQ report had the same age and history and listed them both as POSITIVE factors in my score. Go figure!!

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:37:36 GMT

Hey Peas,

What color do you get for 5 years? Is it listed as short because of the average age? At least yours doesnot look like this.

Your oldest account was opened
2 Years agoFICO High Achievers [?] opened their oldest account 19 years ago, on average. Average age of your accounts
11 monthsMost FICO High Achievers [?] have an average age of accounts between 6 and 12 years.

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:37:41 GMT

I hope this just means they're grasping at straws. Really.

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:41:50 GMT

felixfly2000 wrote:
Hey Peas,

What color do you get for 5 years? Is it listed as short because of the average age? At least yours doesnot look like this.

It's their pretty light green color for 'very good'. (Same as the range-o-meter thingie.)

Re: If this is true, we're all doomed..

unknown_entity — Tue, 15 Apr 2008 22:47:45 GMT

It's just a computer program that spits out what's put in it. Actually those are awesome numbers for credit scores. I talked with a B of A specialist today and he said, that is their most primary concern when it comes to issuing credit, they want people with long credit histories. Hence the reason they sent me the 99/500 plan...lol.

Message Edited by unknown_entity on 04-15-2008 06:47 PM

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 22:52:35 GMT

unknown_entity wrote:
It's just a computer program that spits out what's put in it. Actually those are awesome numbers for credit scores. I talked with a B of A specialist today and he said, that is their most primary concern when it comes to issuing credit, they want people with long credit histories. Hence the reason they sent me the 99/500 plan...lol.

Message Edited by unknown_entity on 04-15-2008 06:47 PM

I'm at 672, 672 and 658 - yes, I have some things that I'm waiting to fall off. My util reports at 9%. My 5 new accts this year will have their 6 month anniversaries before I do my final pulls for my next mortgage(s). Well, BofA might be really close, but we'll see. They gave me 2k on the Amex even though they sort of flinched at the 120 and 90 day lates from Sallie Mae in 2001. (The 120s just fell off, yay! One set of 90s to go!) My average age could drop at any time b/c of a few older, closed cards from the late 90s. I'm anchored a bit w/ cards from 1990 and 1993.

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 23:05:45 GMT

TU is weirding out on me too. I got a red zone for having TOTAL credit card and non-mortgage installment (i.e., car loan) balances over $1,200. Meanwhile my util is 3%.

Re: If this is true, we're all doomed..

unknown_entity — Tue, 15 Apr 2008 23:07:26 GMT

I'm still waiting on a recon from WaMu. I sent them a 677 EX report with the recon request. If that doesn't satisfy them I'm gonna have my Mom add me as an AU on her WaMu for a while and see if that helps...lol. It's a 6025 limit with a 0 balance. I know it will help my util and I think she's had it for decades. That might be a good plan if they report the opening date as hers. Anyone know how that works with WaMu?

Re: If this is true, we're all doomed..

Anonymous — Tue, 15 Apr 2008 23:13:39 GMT

unknown_entity wrote:

I'm still waiting on a recon from WaMu. I sent them a 677 EX report with the recon request. If that doesn't satisfy them I'm gonna have my Mom add me as an AU on her WaMu for a while and see if that helps...lol. It's a 6025 limit with a 0 balance. I know it will help my util and I think she's had it for decades. That might be a good plan if they report the opening date as hers. Anyone know how that works with WaMu?

Yep, I've been AU on DF's $9K WaMu card for a while, and I think that may have helped in getting my own (they gave me $15K when I got my own). They will not report her opening date on your card.

Re: If this is true, we're all doomed..

unknown_entity — Tue, 15 Apr 2008 23:30:20 GMT

Thanks Cheddar! I'm not surprised about them not reporting the opening date as hers though. That would be almost scandalous...lol. I'm still hoping for a recon approval, although, if I get denied, I may try the AU approach before the next app in 90 days.

Re: If this is true, we're all doomed..

Anonymous — Wed, 16 Apr 2008 00:41:27 GMT

unknown_entity wrote:

Thanks Cheddar! I'm not surprised about them not reporting the opening date as hers though. That would be almost scandalous...lol. I'm still hoping for a recon approval, although, if I get denied, I may try the AU approach before the next app in 90 days.

I'm not sure how scandalous it would be, because that's exactly what Amex does. But you probably knew that.

Re: If this is true, we're all doomed..

Anonymous — Wed, 16 Apr 2008 02:41:41 GMT

But I have a long credit history with BofA. Hows come they won't have anything to do with me?

unknown_entity wrote:
It's just a computer program that spits out what's put in it. Actually those are awesome numbers for credit scores. I talked with a B of A specialist today and he said, that is their most primary concern when it comes to issuing credit, they want people with long credit histories. Hence the reason they sent me the 99/500 plan...lol.

Message Edited by unknown_entity on 04-15-2008 06:47 PM

Re: If this is true, we're all doomed..

unknown_entity — Wed, 16 Apr 2008 03:06:03 GMT

beenthere wrote:
But I have a long credit history with BofA. Hows come they won't have anything to do with me?

Assuming that a long credit history means a good, long credit history....lol. I'd call them up and ask why you aren't getting any love. In the age of computers, numbers, formulas and everything else technical, a human intervention may be the answer. I have never called and gotten the same person at any CCC twice. If one doesn't give you what you want, call back and talk to someone else. You'll eventually get someone that will help.

Re: If this is true, we're all doomed..

Junejer — Wed, 16 Apr 2008 03:44:13 GMT

I was just scratching my head about this tonight.

Here is EQ:

You have an established credit history.
Here is TU:
You have an established credit history.
Here is EX:
You have a short credit history.

Avg of 6 yrs on both EQ & EX, 5 yrs on TU

ETA: How is it possible that I am getting both love and hate for the same thing?

Message Edited by ByrdMan on 04-15-2008 10:44 PM

Re: If this is true, we're all doomed..

unknown_entity — Wed, 16 Apr 2008 04:10:29 GMT

I'd say you are drinking from different wells with different smells...lol.