Code 1 on credit report

[Anonymous]

Just received a copy of our credit report pulled by a mortgage lender,  could you please tell me how in the world when we have credit score of 825 - 837 that the code 1 (amount owed on accounts is too high) could even be on there.  We have no debt anywhere.  What's up with that?

[fused]

What source did your lender pull your scores and reports from? Which CRA did this code show up on?

EX: 01 current with balances

EQ:0001 amount owed on accounts to high

TU: 001 amount owed on accounts to high

Message Edited by fused on 11-09-2007 03:50 PM

[Anonymous]

Nice scores BTW

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@Anonymous wrote:

Just received a copy of our credit report pulled by a mortgage lender, could you please tell me how in the world when we have credit score of 825 - 837 that the code 1 (amount owed on accounts is too high) could even be on there. We have no debt anywhere. What's up with that?

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[Anonymous]

Once your score gets that high, the software that evaluates the scores and comes up with reasons why your score isn't higher gets a little loopy.

[Anonymous]

This was from Experian/Fair Isaac Score.    And as to closing credit cards,we have 4 and we didn't close any, so can't imagine that could be an issue.   And we never keep a balance on these cards.....would I get anywhere if I called the credit reporting agency?

[Anonymous]

Code 1 on EX is fine.
You have nothing to worry about.

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@Anonymous wrote:

This was from Experian/Fair Isaac Score. And as to closing credit cards,we have 4 and we didn't close any, so can't imagine that could be an issue. And we never keep a balance on these cards.....would I get anywhere if I called the credit reporting agency?

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[Anonymous]

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TheNewWorldMan wrote:
Once your score gets that high, the software that evaluates the scores and comes up with reasons why your score isn't higher gets a little loopy.

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So true.  I pull at least 15-20 CBRs a day on random people I see above 800 just to see the risk reasons.  And some of them are "too many inqs" on people with ZERO inqs.  I also see "too many  accounts with balances" when there's zero debt-credit.  It basically makes up reasons as far as I can tell the higher your score is.