Well, I heard back from the FCU today and they were making the change as I was speaking to them on the phone. It hasn't hit the CRA's yet, but I'm sure it will in a few weeks, if not sooner. I ran another FICO just now and allowed them to simulate a solution. The one score that has been staying down is EQ. That's where this revolving account is reporting. I was glad to see what they came up with (see below).
"Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months
How you manage your revolving accounts (credit cards, department store credit cards, revolving lines of credit) is heavily weighted in the FICO® score. FICO® scores evaluate your revolving accounts in a variety of ways, including comparing your balance to your available credit, as well as looking at the number of accounts with a balance. A general rule to remember: consistently carrying lower balances on your revolving trade lines will generate positive points for your score.
This simulation was based on your paying down 90%-100% of your overall credit card balances over a period of 24 months. In general, your score will be helped as your credit history lengthens and you establish FICO® healthy behavior. So this score simulation took into account both your lower balances and the aging of your credit history."
As soon as this loan gets switched to an installment type loan, my percentage should drop from 89% down to 1-2%. My EQ score today with this loan reporting incorrectly is 645. The simulation put me at 715 by paying down my revolving credit. Hopefully I'll see that when the change finally posts. I'll keep you posted when it does.
Score changes from 10/20/08 to today:
EQ - 10/20/08 - 635
10/31/08 - 645
TU - 10/20/08 - 665
10/31/08 - 689
EX - 10/20/08 - 681
10/31/08 - 695
700 CLUB IS GETTING MORE AND MORE VISIBLE....
Thunderseven.....TU-8 740 (05/22/2025) EQ-8 777 (05/22/2025) EX-8 763 (05/22/2025)
