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Credit score due to "negatives" that really aren't???

New Visitor

Credit score due to "negatives" that really aren't???

I just received my latest credit score from my bank and the following determinations were listed as factors in my score:
Proportion of balances to credit limits on revolving accts too high
Number of accounts with delinquency
Too many inquiries in last 12 months
Too many accounts opened in last 12 months

I looked up my credit report online with the agency who reported this score and factors and this is what I found:
I have one open revolving account with a balance (1!) - how can I have balances that are too high?
I have one (1!) account that shows one 60-day delinquency from over 6 years ago, that's it (I am disputing that)
I have had three inquiries in the last 12 months and 2 are from my bank on the same day (4 days ago) so should be considered as the same
I have 0 accounts opened in the last 12 months

Does this make any sense to anybody? I have a good credit score (761) but it disturbs me to see these reasons listed as lowering the score when they don't even apply. There is no way to contact the credit agency except in writing.
Message 1 of 5
Regular Contributor

Let's take these reason codes one by one. 1) You don't sa...

Let's take these reason codes one by one.

1) You don't say what the balance is relative to the limit on that card. Lower is better, near zero is ideal. I'm guessing it's pretty high if it outweighs the delinquency as the reason for the decline.

2) Zero is the ideal number of accounts with delinquency.

The third and fourth reason are probably very minor by comparison. Duplicate inquiries aren't counted together unless they're auto or mortgage and correctly coded. You can, however, dispute the inquiry as a duplicate.
Message 2 of 5
New Visitor

Yes, the balance on the one account is high as it is a ho...

Yes, the balance on the one account is high as it is a home equity account but the available credit changes semi-annually, increasing each time. I have about 20 open accounts with no balance so why are they focusing on just this one?

Yes, zero delinquencies would be great but the amount on the one posted was for all of $100 and was paid and I am disputing the delinquency.

As for the credit inquiries, yes they are both from my bank regarding a mortgage loan, so as I understand it that should not be a negative. The third was from an auto dealer even though I paid cash and didn't finance. Why would that be negative?

I really don't understand the last one. I have opened no new accounts in the past year yet that is listed as a reason. Does that make any sense?
Message 3 of 5
Regular Contributor

Ahh, okay, I didn't know you had other open revolving acc...

Ahh, okay, I didn't know you had other open revolving accounts. That does change things, but if they're not being used occasionally, it can be a problem.

Total revolving utilization (total amount on accounts / total credit limit) -- that may be what they were looking at (rather than just that one account).

HELOCs can really do a whammy on the utilization.
Message 4 of 5
New Visitor


Thanks for your help. I don't know that I am any clearer on the reasoning and I guess I shouldn't worry as my score is high. Guess I'm just bugged by the illogic of it all and the need for perfection!
Message 5 of 5
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