More hilarity from TU 'Understanding your Score'

[Anonymous]

So, I got Chase to do an intercycle update on my balance, got my utilization down from 16% to 6%, only a 5 point jump.

I check the 'Understanding your Score', in the neg column it says;

'You have made high usage of your credit lines'
6%
On average, high-scores use 7% of their credit-line.

Que pasa?

[MidnightVoice]

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=9508&view=by_date_asc...

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MidnightVoice wrote:

Good stuff from my EQ report - What’s helping your FICO score

You have an established credit history.

Your oldest account was opened 20 years ago

Most FICO High Achievers opened their oldest account 19 years ago, on average.

Average age of your accounts 8 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

Bad stuff from DW's EQ report - What’s hurting your FICO score

You have a short credit history.

Your oldest account was opened 20 years ago

Most FICO High Achievers  opened their oldest account 19 years ago, on average.

Average age of your accounts 8 years

Most FICO High Achievers have an average age of accounts between 6 and 12 years

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[Anonymous]

yep, yep..........I get the oldest (helping) and shortest (hurting) credit history note also. My oldest account is 30 years, 10 months. And I have 2 of them.

[jbh]

If you listen carefully, you can hear the engineering at work re: the TU score explanation. It's faint, but if you listen carefully it sounds something like this:

(put index finger on top lip and move it up and down both lips quickly)

Explains a lot, actually.

[fused]

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cobra19 wrote:

yep, yep..........I get the oldest (helping) and shortest (hurting) credit history note also. My oldest account is 30 years, 10 months. And I have 2 of them.

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One more TU point for you, and you'll never see any messages about what's hurting your score.

[Anonymous]

I'm guessing they have to have "something" on the negative side. Can't all be positives or else you'd have no reason for your FICO to go up. The history in years is probably the most basic, least important negative they could throw at you. Take me for example. I have 1 credit card. Paid in full since day 1. They listed a negative against me as "I haven't been paying off debt from enough credit cards."

[haulingthescoreup]

DH has 0 negatives on any of his reports, even though he has a newish card, and a 4-year-old 30 on EX, which is also a derog, as it was our last payment when closing the card. The long-term goal in my siggy was copy/pasted from his reports. Nauseating, huh?

[Anonymous]

The funniest thing is my report has Age of credit as BOTH a Positive and a Negative with the exact same wording.

[haulingthescoreup]

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@Anonymous wrote:
The funniest thing is my report has Age of credit as BOTH a Positive and a Negative with the exact same wording.

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Mine, too. Positive for longest account, negative for AAoA. You'd think that they could tweak that a bit, lol.