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Hi,
I have had several things update on my reports over the past year or so.... length of several oldest accounts is over 12 years. not showing any collecitons or missed payments on any bureaus. My question is WHY does it show on all three bureaus that the negative factors affectng my score are 1.derogatory/collection/recent missed payment history, and 2. short credit history.... to me, 12 years is not short (mortgage, and 2 credit cards over 12 years), and ZERO late or missed payments on history and no collections.... Is there a way to have this updated? Why is it there?
What's your AAoA and AoYA? Either of those can trigger short credit history factors.
Any chargeoffs or tax liens or judgments? Foreclosures or BKs?
Negative reason statements are only suggesting that you aren't receiving maximum scoring benefit from the area they are referencing. If one mentions length of credit history, it just means that your age of accounts aren't at the best point yet for maximum scoring. While 12 years AoOA is pretty good, FICO I think gives max points around 17-20 years, meaning that you still have some opportunity there. AAoA looks for 7.6 years or more, so if you're below that it would mean you're still leaving some points on the table and thus the negative reason code can come.
A negative reason code makes people think that their scores are being supressed significantly; these codes could be pointing to something holding you back 100 points, or it could be only a few points.
As for the negative information code, that's something you're going to want to address immediately by obtaining a copy of your credit report and looking for any negative information. If you're seeing that negative reason statement, it's getting that from seeing negative information on your report. If it's inaccurate, that's something you'll want to dispute and get removed.
What is your Score? Some people near 800 report having very silly negative reasons. After you reach 800 or 820, or something like that, they stop giving negative codes.
It could be that your scores are high enough that they are scraping the barrel looking for negatives to advise you one.
@Anonymous wrote:
728, 713, 708
What is your utilization currently?
If your aggregate utilization is low (8.9% or less) and you have an aged file, which your 12 year AoOA suggests, your scores are suggestive of some sort of negative information being present. Without any negative information, low utilization and a reasonably aged file I would expect your scores to be at least mid 700's, possibly upper 700's. Those with aged baddies usually report scores more in the range you gave above. I would pull hard copy credit reports (not credit monitoring service versions) and comb them for any negatives.
Are you letting the small fast food charges report on all credit cards at statement cut? ie, 5 credit cards, 5 balances, $6, $8, $7, $3, $5 ? Or might you be charging and immediately paying in full on all credit cards so they report zero balances across your reports?