Some questions about my credit...Any input is appreciated

[Anonymous]

Hey guys,

I'm just going to apologize in advance for this long post.

Some background information:

19 y/o college student (See scores in signature)

AAoA: 7.2 | Total CU: 11% (Factors in AU accounts) | Zero delinquent/derogatory marks (Including AU accounts)

Individual Revolving:

1. BofA Bankamericard Cash Rewards Plat. Plus: $700 limit 

2. Macy's Retail: $900 limit

Authorized User:

3. Discover: $9100 limit

4. AMEX Gold...CLOSED, still on reports

Student Loans: (All deferred, and yes, I know my student loan debt is absurd)

5. Perkins Loan: $6,000 (NOT reported on EX/EQ)

6. Federal Loans: $8750

7. Private State Loan: $19,800 + $8500 (NOT reported on EX/EQ)

Questions:

1. I know FAKO scores arent supposed to be accurate, but is there a reason for the 85 point variation? My CK shows that my FAKO TU score is 639 while Credit.com shows that my FAKO EX score is 725.

• It may be because I am at ~90% utilization on my BofA card right now (I usually PIF on all cards but I have 0% APR right now so I'm not really worried) but I checked all 3 reports and they are all reporting the same utilization for that card
• The only differences in my credit reports are: 1. My perkins and private state loan reports ONLY to Experian; 2. I have 5 reported inquries with TU and 7 with EX/EQ

2. If the score variation is due to the lenders not reporting my student loans to TU and EQ, and thus affecting my total # of accounts, should I ask the lenders to report the loans to all CRAs? Are there any advantages/disadvantages to this?

3. I have been making interest-only payments for all of my student loans to show consistent payments, even though they are still in deferment. Is this doing anything to help my credit score?

4. In comparison to other college students, how does my credit history/score rank? 

5. When underwriters make credit decisions, do they completely ignore AU accounts when generating scores?

6. Other than paying down my BofA card, what else can I do to increase my score? Should I try and get a small personal loan? Apply for another CC (risky?) or retail card? Add more AU accounts? 

[myjourney]

---

@Anonymous wrote:

Hey guys,

I'm just going to apologize in advance for this long post.

Some background information:

19 y/o college student (See scores in signature)

AAoA: 7.2 | Total CU: 11% (Factors in AU accounts) | Zero delinquent/derogatory marks (Including AU accounts)

Individual Revolving:

1. BofA Bankamericard Cash Rewards Plat. Plus: $700 limit 

2. Macy's Retail: $900 limit

Authorized User:

3. Discover: $9100 limit

4. AMEX Gold...CLOSED, still on reports

Student Loans: (All deferred, and yes, I know my student loan debt is absurd)

5. Perkins Loan: $6,000 (NOT reported on EX/EQ)

6. Federal Loans: $8750

7. Private State Loan: $19,800 + $8500 (NOT reported on EX/EQ)

Questions:

1. I know FAKO scores arent supposed to be accurate, but is there a reason for the 85 point variation? My CK shows that my FAKO TU score is 639 while Credit.com shows that my FAKO EX score is 725. Credit karma & Credit com have different algorithms which explains the differences and believe neither score to be true

• It may be because I am at ~90% utilization on my BofA card right now (I usually PIF on all cards but I have 0% APR right now so I'm not really worried) but I checked all 3 reports and they are all reporting the same utilization for that card
• The only differences in my credit reports are: 1. My perkins and private state loan reports ONLY to Experian; 2. I have 5 reported inquries with TU and 7 with EX/EQ

2. If the score variation is due to the lenders not reporting my student loans to TU and EQ, and thus affecting my total # of accounts, should I ask the lenders to report the loans to all CRAs? Are there any advantages/disadvantages to this? Look on CR's to confirm who's reporting but again the scores aren't real on the 2 above mentioned sites. You can always ask for a TL to be reported but they are under no obligation to report 

3. I have been making interest-only payments for all of my student loans to show consistent payments, even though they are still in deferment. Is this doing anything to help my credit score? Post in student loan for better results and answers 

4. In comparison to other college students, how does my credit history/score rank? See above 

5. When underwriters make credit decisions, do they completely ignore AU accounts when generating scores? Most include AU's history except Chase 

6. Other than paying down my BofA card, what else can I do to increase my score? Should I try and get a small personal loan? Apply for another CC (risky?) or retail card? Add more AU accounts? Time increases scores 

Credit is a marathon not a sprint. Pay on time and in your cases get UTL down while increasing AAoA, Aging any INQ's and scores will naturally rebound 

Another TL is always an option but it will also drop AAoA, scores so that's a decision you have to make.

With high UTL it also makes approval odds decline 

---

[RobertEG]

My view....

The bulk of your credit limit is on the AU account.

Thus, while your overall % util looks good, if the AU were not included, it would be high.

Underwriters know the AU game, and if you are applying for relatively high amounts of credit, such as a mortage or auto loan, they are apt to do a manual review.

If they wish to see your FICO risk analysis based only on your own personal credit history, they cannot do so with an AU in your scoring.

They cannot back out single accounts and genreate their own FICO score.

Thus, in my opinion, creditor view may depend upon the amount of new credit you are seeking.  With an AU contributing substantailly to your scoring of util of credit, they may either discount the value of your score in their determiation, or ask that the AU be removed.

AUs are a great building/rebuilding tool when securng lower levels of credit that are less likely to involve a manual review, but can raise questions as you move up the credit ladder.