Question re: Credit Report

[Anonymous]

Hello, I subscribe to ScoreWatch, and I recently received an alert stating that my score went up 7 points but there wasn't any reason to this that was listed.  Is this accurate? 

Also, I recently purchased two of my scores (Equifax and Transunion).  On the Transunion report which was showing on my CreditKeeper (which I also have to monitor all 3) it states that my length of credit history is hurting my score.  It is listed as only 2 yrs of credit history, when in fact I have had my oldest account for at least 8 yrs.  On the report itself, it shows that my old accounts are reporting.  Is this a mistake?  On my Equifax and Experian, they are reporting 8 yrs, which is accurate.

[Anonymous]

Hi asyiasmami. Your monitoring service gives you more info than mine. I use EXP's Triple Advantage monitoring service, and all I get is "something has changed on your cr". Nothing else. From an inquiry, new account, etc.

Regarding the credit history, they are probably talking about average of your all credit cards combined. A new card can drop the average age of accounts significantly.

I have 4 cards that are 8 years old, yet due to all the new cc's, I've dropped the ave. age to only 2 years. Which is a score dropper unto itself. Bummer.

Hope that helps.

[Anonymous]

Dang Sylvia - I thought I was bad dropping to 4 years avg age.

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@Anonymous wrote:
Hi asyiasmami. Your monitoring service gives you more info than mine. I use EXP's Triple Advantage monitoring service, and all I get is "something has changed on your cr". Nothing else. From an inquiry, new account, etc.

Regarding the credit history, they are probably talking about average of your all credit cards combined. A new card can drop the average age of accounts significantly.

I have 4 cards that are 8 years old, yet due to all the new cc's, I've dropped the ave. age to only 2 years. Which is a score dropper unto itself. Bummer.

Hope that helps.

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[Anonymous]

Well Timothy(may I call you Timmy? it'd be my pet nickname for you.), I went into a credit apping frenzy in November. That's why. Added 7 new TL's. Shame Sylvia, shame on you.

[Anonymous]

asy.....all else being equal, the 7 point jump is probably attributable to the natural aging of your accounts. Like us, they're all another month older.

[jackg]

ASY

I too am a score watch subscriber for about a year, and it's my experience that everytime they tell me a change has occured, it's correct.

Others have responded with possible reasons for changes, but I wonder if you have any installment loans, say, a car for example, if so you need to remember that each month when you make a payment you are paying down the balance due and FICO responds to that.

Just an idea. Good Luck

[positronicshell]

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@Anonymous wrote:
Added 7 new TL's.

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Sylv,

how did the 7 new TL effect your scores?
i only got 2 new TL + i took sucha dive
to the SLEIGH CENTER WITH US!

3 xoxox jane

[Anonymous]

jane, the score dropped about 50 points with EXP, according to my monitoring service

I haven't had the courage to pull all 3 reports just yet. I want to make sure all cc's are reporting, my newest being Macy's just last week.

But I was prepared for it, and accept it fully.

[Anonymous]

Timmy is my son- Sorry

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@Anonymous wrote:
Well Timothy(may I call you Timmy? it'd be my pet nickname for you.), I went into a credit apping frenzy in November. That's why. Added 7 new TL's. Shame Sylvia, shame on you.

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[Anonymous]

okay dokie, Mr. Timothy. Lucky boy. ty Timothy it is.