@Anonymous wrote:
Just realized something. My highest FICO score with Experian has the HELOC listed as revolving. My lowest, TU, has it listed as mortgage debt. Now that doesn't make sense at all.....sigh
On my reports, my current and previous HELOCs are listed in several different ways. However, it does not appear that the overall balance of the HELOC or the utilization percentage of the HELOC is included in the revolving credit numbers. On my EQ report (purchased directly from the EQ site), my exact revolving credit balance and exact revolving utilization percentage are mentioned in the positive and negative factors section. The balance and percentage numbers EQ cites only include my credit card and charge card totals.
It appears to me that, even if a HELOC is listed in the revolving credit section of a report, as long as it's not being classified as a credit card or charge account, it is not factored into the revolving credit numbers and not dragging down the score. Of course, YMMV.
How much lower is the TU score than the EX score? I'd bet the difference is caused by something completely unrelated to the HELOC. Unless the interest rate for the HELOC is excessively high, I'd leave it alone and pay it down as you are able.
