topic Re: Hilarious Helpful comments from EQ reports from MyFICO in Understanding FICO® Scoring

Hilarious Helpful comments from EQ reports from MyFICO

MidnightVoice — Thu, 13 Sep 2007 13:21:14 GMT

Good stuff from my EQ report - What’s helping your FICO score

You have an established credit history.

Your oldest account was opened 20 years ago

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

Average age of your accounts 8 years

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

Bad stuff from DW's EQ report - What’s hurting your FICO score

You have a short credit history.

Your oldest account was opened 20 years ago

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

Average age of your accounts 8 years

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

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Thu, 13 Sep 2007 13:23:37 GMT

MidnightVoice wrote:
Good stuff from my EQ report - What’s helping your FICO score
You have an established credit history.
Your oldest account was opened 20 years ago
Most FICO High Achievers opened their oldest account 19 years ago, on average.
Average age of your accounts 8 years
Most FICO High Achievers have an average age of accounts between 6 and 12 years

Bad stuff from DW's EQ report - What’s hurting your FICO score
You have a short credit history.
Your oldest account was opened 20 years ago
Most FICO High Achievers opened their oldest account 19 years ago, on average.
Average age of your accounts 8 years
Most FICO High Achievers have an average age of accounts between 6 and 12 years

LOL!

Well...I assume your FICO is well over 700? At that point they have to give some sort of "bad" reasons since you're not exactly at 850...which no one is.

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Thu, 13 Sep 2007 13:43:13 GMT

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Thu, 13 Sep 2007 15:21:40 GMT

Oh jeez!

Re: Hilarious Helpful comments from EQ reports from MyFICO

MidnightVoice — Thu, 13 Sep 2007 15:24:25 GMT

Joe77 wrote:

LOL!

Well...I assume your FICO is well over 700? At that point they have to give some sort of "bad" reasons since you're not exactly at 850...which no one is.

Both are over 700, but mine is over 40 points higher -

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Fri, 14 Sep 2007 01:57:06 GMT

I wonder...does the proportion of your actual age vs. the age of your oldest account come into play here? I mean, yours states the "good thing" contributing to your report is that your oldest account is 20 years, which would be great if you were, let's say 36 years old. Maybe if your wife is like 89, then it would be bad that her accounts were *only* opened 20 years ago:

20 to 36=good

20 to 89=bad

Although, I'm sure your wife is not 89 years old.

Or if she is, tell her to reopen her oldest credit card

Haha, jk.

Re: Hilarious Helpful comments from EQ reports from MyFICO

MidnightVoice — Fri, 14 Sep 2007 12:08:44 GMT

MeganML84 wrote:
I wonder...does the proportion of your actual age vs. the age of your oldest account come into play here? I mean, yours states the "good thing" contributing to your report is that your oldest account is 20 years, which would be great if you were, let's say 36 years old. Maybe if your wife is like 89, then it would be bad that her accounts were *only* opened 20 years ago:

20 to 36=good
20 to 89=bad

Although, I'm sure your wife is not 89 years old.

Or if she is, tell her to reopen her oldest credit card

Haha, jk.

Well, my DW and I are similar vintage, and we moved back to the states at about the same time (and got a joint credit card). Hence we are as similar as we could be in that respect

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Fri, 14 Sep 2007 19:06:27 GMT

Joseph Heller would have loved that one.

Re: Hilarious Helpful comments from EQ reports from MyFICO

MidnightVoice — Tue, 18 Sep 2007 20:24:42 GMT

TheNewWorldMan wrote:
Joseph Heller would have loved that one.

Nice one.

Yes. it is somewhat of a classic IMHO

Message Edited by MidnightVoice on 09-18-2007 03:24 PM

Re: Hilarious Helpful comments from EQ reports from MyFICO

MidnightVoice — Thu, 20 Sep 2007 20:46:10 GMT

Bringing it back for pizza!!

Re: Hilarious Helpful comments from EQ reports from MyFICO

Anonymous — Thu, 20 Sep 2007 22:21:50 GMT