topic Re: "Comments" under scores? in Understanding FICO® Scoring

"Comments" under scores?

Anonymous — Mon, 30 Sep 2013 04:57:18 GMT

Re: "Comments" under scores?

Anonymous — Tue, 21 Aug 2007 09:53:17 GMT

I would think (would hope) that with your scores you don't have anything to worry about, but I would like to know the answer to your question also. Why, when someone has what looks like a great report do you always see "reasons your score may be low". I think you're right in that those are simply things keeping you from perfect. In your case nothing to worry about, but keeping you from 850 none-the-less.

Re: "Comments" under scores?

Anonymous — Tue, 21 Aug 2007 10:55:58 GMT

With scores like that, I wouldn't worry too much about the "comments" except the one about revolving balances being too high. If it were me, I'd try to pay those down. I don't know how much of a score increase you would get with scores in the mid-700's - I've never been there - YET. From what I've read the higher your scores are, the slower the increases but, at any rate, high revolving debt balances don't look good.

Re: "Comments" under scores?

Tuscani — Tue, 21 Aug 2007 12:26:13 GMT

Welcome.. Please read the Scoring 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

Re: "Comments" under scores?

Anonymous — Mon, 30 Sep 2013 04:58:01 GMT

Re: "Comments" under scores?

Tuscani — Tue, 21 Aug 2007 20:51:55 GMT

canadiyank wrote:
Thanks for the help, everyone. Tuscani, I did read that thread and a bunch of the other FAQ's threads...very helpful, thank you! I'm such a newbie to this. I didn't see my particular question answered (although I may have missed it, obviously) so that's why I posted. Hope I'm not asking an irritating question that gets asked every 2 days or something...sorry if it is!

We are paying down those high balances...I think *most* of the reason it says that is b/c of dh's student loans ($35000+). We pay about $100/mo. more than the minimum but it's still going to take us many years to pay off. We do have some cc debt we are paring down, and from what I can gather from here, paying that down as much as possible (to get into that 1-9% debt ration thingy...) is going to be the most helpful thing to do in the next couple years before we get a "real" mortgage/building loan/whatever it is. Thanks for your help...still waiting to hear if we're approved for the loan or not, but I feel much calmer.

Message Edited by canadiyank on 08-21-2007 01:37 PM

The 1-9% really only applies to revolving credit. In terms of scoring, your util on an installment account (like student loans) means little.

Re: "Comments" under scores?

Anonymous — Mon, 30 Sep 2013 04:58:22 GMT

Re: "Comments" under scores?

Tuscani — Tue, 21 Aug 2007 21:28:14 GMT

Your scores are great. What's the rate and balance on that card? You should be able to open a new 0% BT card with ease.

Re: "Comments" under scores?

Anonymous — Thu, 23 Aug 2007 18:54:34 GMT

canadiyank wrote:
There are, however, all these "comments" below them..."too many accts" "not long enough history" "revolving balances too hight" etc. All those "comments" make me feel very nervous. I read on one of the other posts that said those comments will appear b/c they have to have *something* on there since we don't have perfect scores. Is that what it's about? I'm feeling a little scared that we won't get approved for this loan b/c those comments make us sound so inept! Ugh! So, something to worry about? Good, bad, or indifferent? Thanks!

The comments are for your purposes only so you can determine how to improve your score. The comments do not appear on the reports that the lenders see. Presumably they can look at a report and understand what's going on.

Re: "Comments" under scores?

Anonymous — Mon, 30 Sep 2013 04:58:42 GMT