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My fico is contradicting itself.

FixMyCredit1992
Established Contributor

My fico is contradicting itself.

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..

 

Farm and Fleet $3,000 (AU) Paypal Extras MC $1,500
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
TU Fico 626



Message 1 of 21
20 REPLIES 20
FixMyCredit1992
Established Contributor

Re: My fico is contradicting itself.

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!

 

 

Farm and Fleet $3,000 (AU) Paypal Extras MC $1,500
Barclay's Apple Visa $1,200 QVC Qcard $800
Amazon Store Card $600 Discover $500
Walmart MC $400 Victoria's Secret $350
Credit One $300 Fingerhut $200
TU Fico 626



Message 2 of 21
lhcole77
Valued Contributor

Re: My fico is contradicting itself.

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.

Message 3 of 21
TheGardner
Valued Contributor

Re: My fico is contradicting itself.

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?

If anyone needs me I will be In The Garden. Goal Score: 760 for all in 2015.
Current FICO Scores EX: 715 EQ: 756 TU: 762
Last APP April 21, 2015.
Victim of The great AMEX HP heist of Dec 1st, 2nd and 3rd of 2014.
Message 4 of 21
KnowlIsPower
Regular Contributor

Re: My fico is contradicting itself.


@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

Message 5 of 21
lhcole77
Valued Contributor

Re: My fico is contradicting itself.

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

Message 6 of 21
KnowlIsPower
Regular Contributor

Re: My fico is contradicting itself.


@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. 

Message 7 of 21
taxi818
Super Contributor

Re: My fico is contradicting itself.

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

Message 8 of 21
taxi818
Super Contributor

Re: My fico is contradicting itself.

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

Message 9 of 21
PedrokiPR
Valued Member

Re: My fico is contradicting itself.

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.

Message 10 of 21
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