Revolving credit ratio is wrong

[dpr73]

On my TransUnion credit report it list my revolving debt ratio as 84%. But after doing the math it only comes up to 60%. Just for the sake of it I added my car loan that i received about 4 months ago in the mix and BAM!!! it comes up to 84%. I sent a email to myFico for a response. Is this normal? Anyone got a comment on it. Thanks

[haulingthescoreup]

Just to be sure, is this 84% ratio on a myFICO TU report, or one from somewhere else?

[dpr73]

yes its on my myFICO Trans report. My car loan is listed as an open account..which still isnt revolving so why are they adding it to the mix. That has to be why. My EQ listed my revolving at 60% which is right and list my car loan as an open account too.

[Anonymous]

If you click on account details what does the account type say? 

I have had car loans show up as revolving accounts but it was an error from the lender not the credit bureau or myfico.  I just had to call lender and they fixed itthe next time they report to credit bureau.

[haulingthescoreup]

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dpr73 wrote:
yes its on my myFICO Trans report. My car loan is listed as an open account..which still isnt revolving so why are they adding it to the mix. That has to be why. My EQ listed my revolving at 60% which is right and list my car loan as an open account too.

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Is your TU score significantly lower than your EQ?

It's not uncommon for there to be display errors in the commentary that goes along with reports, and TU seems especially prone to display errors. But the score is based off of the full report at the bureau, which should have it coded correctly.

[haulingthescoreup]

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dpr73 wrote:
yes its on my myFICO Trans report. My car loan is listed as an open account...

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It sounds like your lender has miscoded the loan. I'd call them and explain that it was hurting my scores, and ask them to recode it as installment.

[dpr73]

Thanks guys for your help...I will contact my bank and see what they have to say.

[dpr73]

I called my credit union and they do have listed as a auto loan but the account type is open, which is neither installment or revolving. I would agree that the my credit union miscoded if not for the fact that EQ has it calculated correctly and has the account listed as open too. So something on TU's end is not right.

[haulingthescoreup]

Maybe EQ's software can read and interpret the word "auto" and know what to do with it, and TU's can't? I know that sounds silly, but so much depends on how things map into data fields, so that they're treated correctly.

Sounds like you're stuck with trying to find someone at TU who will (1) answer the phone, (2) know what you're talking about, and (3) fix it. Good luck!

[marty56]

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@haulingthescoreup wrote:
Maybe EQ's software can read and interpret the word "auto" and know what to do with it, and TU's can't?

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Gives me an idea for credit cards like Auto Bank of Marty Visa card or MC.  Now if I could just hack the FICO score forumla so when it sees my BofA 120 day late it returns null.