See my attached image below. I have 9 open accounts, 1 which is an installment loan (so it has to have a balance) and 8 credit cards. When at AZEO (1 CC with a balance) I'm really at 2 of 9 accounts with a balance. This is the state my profile is in for the attached image below.
If I were to take my 1 revolver with a balance to $0, I'd be hit with the penalty associate with no revolving credit. If I paid off my only installment loan, I'd take the penalty associated with a less than ideal credit mix (no open installment loan). Without question the penalty here associated with "too many accounts with balances" is less than that of the other 2 penalties I just mentioned.
My question then is whether or not it's possible to eliminate all of these 3 negative reason statements at the same time? It seems to me that it really isn't, unless I'm overooking something obvious. Perhaps the number of accounts with a balance does also take into account percentage of accounts? Maybe if I had (say) 15-20 open accounts instead of 9 and only had balances on two of them like I do that reason statement could go away?
I don't think it is, though the accounts with balances one might be able to be eliminated, I think virtually everyone will get the length of history one.
It's one that cannot be argued with / sued over, and they generally have to provide something. I do know you can drop below 4 even in the derogatory scorecards, but I don't know if you can ever truly get rid of all of them... I'm still annoyed as hell that MF supresses reason codes above a certain threshold but my complaints didn't hold weight compared to their reason for doing so apparently.
