@MH2 wrote:I just checked my equifax free score through their own site, and I am scratching my head at the reasons helping and hurting my credit:
- Helping your credit score
The balances on your accounts are not too high compared to loan limits
None of your accounts have a severe delinquency or a derogatory status
Few or no installment accounts with delinquent or derogatory payment status
Few or no bankcard or credit card accounts with delinquent/derogatory status
- Hurting your credit score
The date you opened your oldest bankcard or credit card account is too recent (My oldest cc is from 2004)
The balances on your accounts are too high compared to loan amounts (May be an auto loan from 2022, currently about 75% (possibilty)of original loan, but directly contradicts point one above)
You have too many delinquent or derogatory accounts (?? I have none. Most of the helping points are that I have none!)
Balances on bankcard or credit card accounts too high compared to credit limits (My highest credit card balance is a Home Depot used for kitchen reno, currently 60% utilization(possiblility). Other cards either 0 or under 25% utilization)---
Do I just ignore all this?
Welcome @MH2
Honestly. I ignore them. I like where my scores are at no matter what the pros and cons are. The cards and auto loan are just fine with me that I have. Wouldnt change a thing. I read them and move on. Its a computer talking. Finances over FICO we say here. I say Scores over Comments. Thats what leads to approvals when seeking credit. Not comments. Almost everyone has a comment that doesnt make any sense. Some dont even have comments. Thats the high achievers as they say. JMO of course. Bigger things to worry about.
Welcome @MH2 and that's a great question. Those comments can cause alot of confusion for anyone, even folks who research daily... so it's not just you. I agree with @FireMedic1 that for most people, those comments really are just automated computer footnotes to "try" and explain score changes for particular models although... sometimes the comment doesn't seem to match the data and is just triggered by a simple score change, even if it's a score change of one point.
Remember, clean reports are ALWAYS better than higher scores.
