topic Re: Negative factors? in Understanding FICO® Scoring

Negative factors?

Anonymous — Tue, 06 Jan 2009 15:26:04 GMT

I just got my FICO scores & reports, & it says something about the amount owed on revolving accounts is too high. I know this can't be the case, as I always keep the ratio 10% - 20% of my credit limits. Can I dispute this w/ the credit bureau?

Re: Negative factors?

llecs — Tue, 06 Jan 2009 15:58:22 GMT

bucket851 wrote:
I just got my FICO scores & reports, & it says something about the amount owed on revolving accounts is too high. I know this can't be the case, as I always keep the ratio 10% - 20% of my credit limits. Can I dispute this w/ the credit bureau?

Where is it saying this and what is the utilization percent listed (on TU or EQ only, EX lacks numbers)?

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 16:06:39 GMT

Have you had an CLD's? Many vendors are lowering limits - and this would shoot up ut. You could dispute an account as incomplete or inaccurate data.

Before disputing anything, I'd go over each account carefully and verify all tradelines.

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 19:21:05 GMT

This was on my XPN report. I double-checked to make sure my credit limit wasn't lowered. I just got off the phone w/ someone who told me that it's because I have a high score (789). Is this some type of technical problem?

Re: Negative factors?

Junejer — Tue, 06 Jan 2009 19:31:17 GMT

When your scores are high, they start spewing nonsensical things at you, because there's not enough to carp at you about. I would not worry too much about it, unless you can get the uti to under 10%, then it should go away.

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 19:42:21 GMT

@Junejer wrote:
When your scores are high, they start spewing nonsensical things at you, because there's not enough to carp at you about. I would not worry too much about it, unless you can get the uti to under 10%, then it should go away.

That was my understanding from the conversation w/ customer support. Then I was just reading a similar thread ("Experian FICO S**ks") & now I'm wondering if it works the same way w/ TU and EQFX (i.e., even though they base the descriptions on items that are actually on your report)?

Re: Negative factors?

jackg — Tue, 06 Jan 2009 20:17:08 GMT

bucket851,

Don't forget what FICO says in reference to revolving accounts utilization. To attain the most possible points in this segment yor ratio needs to be 1% to 9%. NOT zero %, not 10%.

Good Luck

Re: Negative factors?

jackg — Tue, 06 Jan 2009 20:18:59 GMT

What is "XPN"?

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 20:30:15 GMT

@jackg wrote:
bucket851,

Don't forget what FICO says in reference to revolving accounts utilization. To attain the most possible points in this segment yor ratio needs to be 1% to 9%. NOT zero %, not 10%.

Good Luck

Thanks

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 20:30:37 GMT

@jackg wrote:
What is "XPN"?

Experian

Re: Negative factors?

Anonymous — Tue, 06 Jan 2009 20:32:06 GMT

You guys have been really helpful. I really appreciate the quick responses!