topic Re: My fico is contradicting itself. in General Credit Topics

My fico is contradicting itself.

Anonymous — Sat, 06 Sep 2014 06:04:52 GMT

Something is SERIOUSLY WRONG HERE...

These are screen shots, all from the same report.

I've had a installment loan for 2 months now...

One reason why Fico says my score is low..

Re: My fico is contradicting itself.

Anonymous — Sat, 06 Sep 2014 06:14:07 GMT

Now..after doing some research, I found the following.

1. Fico does NOT count installment loans as UTL.

2. AU's are NOT counted as UTL.

3. Closed accounts are NOT counted unless it shows a balance.

Now...agian, all this info is from the same report.

Fico shows I have a revolving credit balance of $446. This is CORRECT, but we will go into detail. Note the wally card is not yet on EX.

Fico shows my UTL is 19 percent!!

Paypal Rewards MC $0/$1500

Amazon $0/$600

QVC $0/$800

Victoria's Secret $0/$350

Fingerhut $0/$300

OCCU $299/$500 (closed, but has a balance)

Discover $147/$300

Total balance: $446 (this checks out with myfico.com)

Total Credit limit: $4,350 (this also checks out fine).

Percentage: 10.25%

NO WHERE NEAR 19!

Even if we remove the closed occu card, we get 3.8%, actually less.

I know this wouldn't make normal people mad, but myfico is not correctly calcuating my UTL!

Re: My fico is contradicting itself.

lhcole77 — Sat, 06 Sep 2014 15:45:28 GMT

Got a screen shot of it saying your UTL is 19%?

OCCU balance owed is counted towards UTL but the CL is not.

Edit: also, your siggy shows more cards and some diff CLs than what you listed in your thread.

Re: My fico is contradicting itself.

TheGardner — Sat, 06 Sep 2014 15:52:12 GMT

Isn't the 4 in the red box representative of the 4th issue?

You won't want to hear this but 45 inq isn't helping. How many over the last 6 months? Aggressive credit speaking damages your fico and profile to creditors.

What baddies are on your reports?

Re: My fico is contradicting itself.

Anonymous — Sun, 07 Sep 2014 14:47:15 GMT

@TheGardner wrote:
Isn't the 4 in the red box representative of the 4th issue?

No, the screenshot the OP posted is a cut and paste from 2 different screens on the MyFico report. The 4 means ithe OP has at least 3 other negative issues. Inquiries is probably another one of them

For instance on my report OP's #4 is my #2 and inquiries is #3 so for OP inquiries could be #5 or higher

Re: My fico is contradicting itself.

lhcole77 — Sun, 07 Sep 2014 16:37:26 GMT

In other words, yes. The 4 in the red box is representative of the 4th issue.

Re: My fico is contradicting itself.

Anonymous — Sun, 07 Sep 2014 22:07:33 GMT

@lhcole77 wrote:
In other words, yes. The 4 in the red box is representative of the 4th issue.

maybe im reading too much into the OP. I think the OP knows there are multiple issues. It's saying the OP needs non-mortgage installment loans but OP has non-mortgage installment loans.

Re: My fico is contradicting itself.

taxi818 — Mon, 08 Sep 2014 12:13:31 GMT

What he is not denying. He just got half those cards. And they are not on report yet. But in his wiggy.

Re: My fico is contradicting itself.

taxi818 — Mon, 08 Sep 2014 12:15:06 GMT

Correction. His siiggy. Maybe he gas had cards a week. Come on op. Everyone at myfico knows you.

Re: My fico is contradicting itself.

PedrokiPR — Thu, 11 Sep 2014 06:41:02 GMT

Wow, 45 credit inquiries O_O I have 17 on my TU, 8 on Exp and 4 on Equifax and I can't wait for all of them to go away, but 45 dude I am sorry but wow hahah.

Re: My fico is contradicting itself.

lonelyisland — Thu, 11 Sep 2014 19:57:14 GMT

@Anonymous wrote:
Something is SERIOUSLY WRONG HERE...

These are screen shots, all from the same report.

I've had a installment loan for 2 months now...

One reason why Fico says my score is low..

Have you made your first payment on the loan and has the payment reported yet?

The message suggests that no activity on a loan may be the issue, as opposed to no loan.

Re: My fico is contradicting itself.

Anonymous — Thu, 11 Sep 2014 20:27:40 GMT

@lonelyisland wrote:
Have you made your first payment on the loan and has the payment reported yet?
The message suggests that no activity on a loan may be the issue, as opposed to no loan.

\I think you got it. Not so much if he had paid yet, but if the CU has REPORTED it paid yet. If it is anything like mine, Alliant, you can pay on day two of the month, but they will only report all accounts on the last day of that month. So there can be a huge delay in reporting.

Re: My fico is contradicting itself.

physicist82 — Sat, 13 Sep 2014 23:59:54 GMT

@lhcole77 wrote:
Got a screen shot of it saying your UTL is 19%?

OCCU balance owed is counted towards UTL but the CL is not.

Edit: also, your siggy shows more cards and some diff CLs than what you listed in your thread.

I just calculated that because I was curious.

Without the OCCU card's limit his limits are $3850.

446/3850 is still only 11.6%.

That's really weird.

Re: My fico is contradicting itself.

Anonymous — Sun, 14 Sep 2014 22:22:51 GMT

45 inquiries just on TU...?

Re: My fico is contradicting itself.

killer_queen229 — Sun, 14 Sep 2014 23:06:57 GMT

@Anonymous wrote:
45 inquiries just on TU...?

45 inquiries too many. If that's only on his TU report I wonder how many he has all together.

Re: My fico is contradicting itself.

PedrokiPR — Mon, 15 Sep 2014 01:49:36 GMT

I wonder if CC companies have closed any of his cards, I mean 45, wow....

Re: My fico is contradicting itself.

Kostya1992 — Mon, 15 Sep 2014 03:45:11 GMT

I remember telling FixMyCredit1992 to garden when they just had that Discover card a while back.. guess they went agressive with it instead. With that many inquiries I would be very afraid and garden until they are all off..

Re: My fico is contradicting itself.

Anonymous — Mon, 15 Sep 2014 08:13:23 GMT

@killer_queen229 wrote:
@Anonymous wrote:
45 inquiries just on TU...?
45 inquiries too many. If that's only on his TU report I wonder how many he has all together.

Maybe 100+ inquiries on all three reports

Re: My fico is contradicting itself.

killer_queen229 — Mon, 15 Sep 2014 15:03:26 GMT

@Anonymous wrote:
@killer_queen229 wrote:
@Anonymous wrote:
45 inquiries just on TU...?
45 inquiries too many. If that's only on his TU report I wonder how many he has all together.
Maybe 100+ inquiries on all three reports

Most likely but hey I don't know many people who would be celebrating majority of the cards or limits he has.. I'm really not trying to be mean I just don't understand. Credit is not about winning.

Re: My fico is contradicting itself.

chalupaman — Tue, 16 Sep 2014 13:22:53 GMT

@taxi818 wrote:
Correction. His siiggy. Maybe he gas had cards a week. Come on op. Everyone at myfico knows you.

Maybe he was busy apping for a Citi Prestige card and CSP and happy that he had a pending status and that he thinks more inquiries will help him build credit. Yeah.........