3. You have a short credit history.

[Anonymous]

Your oldest account was opened
12 Years, 1 Month ago

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

Could all of you with 19 year old accounts do me a favor and please close them? I'd truly appreciate it.

[haulingthescoreup]

ROFLMAO

Of course, we'd also have to get all of them deleted from our reports...

What's your AAoA (average age of accounts)?

[Anonymous]

Average is 6 years. My average is about to drop, though. A few months after I get my mortgage (next month), I'm going to boost my CC collection. All I have right now is one MC and two store cards. 

I think FiCO is running out of things to complain about on my report so they're attacking my history.

[Anonymous]

Question for those who obviously know more than me. On my Equifax (only) it says that one of my reason codes is 5 (not old enough) and on average 19 years bluh bluh but what I don't understand is my history says 15 years, how the hell is that considered short? Its actually more like 17 but hey I am not arguing over 2 years but still short?

I don't get it, what do we have to do: 1) wish more people with older credit would die? (being sarcastic), 2) encourage people to close their old accounts?, 3) hack the mainframe and change it to 25 (that means I got my credit when I was 7, will they believe it?). All jokes aside, seriously how is this working?

[smallfry]

How is this risk model working? Oh I don't know why don't you ask Countrywide?

[demi]

I have to wonder, do they just have to have something negative to say?  Is there anyone who only has positives in their comments ?  Seriously, 17 years not being enough time?

[haulingthescoreup]

The history messages can refer to either longest or average, although it's usually the one that they post, so it still doesn't make a lot of sense.

DH's only comment is the one in my siggy below. ("What’s hurting your FICO® score: There are no negative reasons significantly affecting your FICO® Score.") On all three reports.

Kinda nauseating, huh.

[Anonymous]

I agree. I always thought if the person doesn't have any lates, collections, or other bad stuff, why must they still try and find something negative about you. I know people who are in the top 1% of scores and had credits for 30+ years in good standing and they STILL have negative reason codes like "no mortgage" or some bull like that, I mean come on, isn't the 800+ score enough to get you off our collective asses?

[haulingthescoreup]

You'd think so, wouldn't you?

I just updated DH's scores, and this time he does have one whole negative on TU (not on the others), and this is definitely a new one on me:

There are no recent balances on your revolving credit accounts.

Your credit report shows no recent balances on your revolving accounts [?]. Your FICO score was hurt because you are not currently demonstrating active revolving credit management.

What to do about this: You might consider moderate and responsible use of your credit cards (such as charging low balances and repaying them on time).

I've never seen this exact negative before. He does use his cards, and that ought to be enough, but not for TU. They want an actual balance to report, unlike EQ and EX. I think it's been about 5-6 months since he had a balance post.

As a result, his TU plummeted to 795. EQ is 809, EX is 807.

Message Edited by haulingthescoreup on 09-16-2008 04:54 PM

[GFer]

Dinged if ya do...and dinged if ya don't!