Mortgage Balance / Credit Card Limit relationship?

[Anonymous]

On a True Credit report there is an entry under Here's where you can improve;  "Your mortgage account balances are too high in comparison with your credit limits".  Does FICO have a similar criteria which compares mortgage balance to cc limit?

[Tuscani]

No. TrueCredit is on crack. Only pay attention to the recommendations from a myfico.com report. And even some of those are debatable.

[SoulSmilen]

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Captain_Marvel wrote:

On a True Credit report there is an entry under Here's where you can improve;  "Your mortgage account balances are too high in comparison with your credit limits".  Does FICO have a similar criteria which compares mortgage balance to cc limit?

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That message pertains to the mortgage balance ratio.

[Anonymous]

What is the definition of mortgage balance ratio?

[SoulSmilen]

The balance of your mortgage. It's how much is owed on the original mortgage.

Example: 90K left owed on a 100K mortgage.

What Tuscani said was true, though; don't put too much stock in the comments on reports.

I just recently had a tradeline removed (my own fault) from my CR on TU; when I had it there were 7 open tradelines and I never had comments about the number of accounts. When that tradeline got deleted, the updated report told me I had too many accounts and that I should consider closing some.

Pfffft.. obviously just words to make people feel like they're getting more for their money.

[MidnightVoice]

My favorite TC suggestion:

1.  You have too many accounts

2.  You do not have enough credit

[fused]

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MidnightVoice wrote:

My favorite TC suggestion:

1.  You have too many accounts

2.  You do not have enough credit

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I might add:

1.) Too few premium bank cards (even though you have CITI, Amex, Chase, Discover and BOA TLs).