@Anonymous wrote:
@Student_Loans_Kill wrote:
AAoA at 11 years hurts my credit ??????(high achieves 6-12)Length of credit history How long you've had credit. Very Good
Don't see how the AAOA is hurting you're credit.
It says "Very Good".
Exactly:
Understanding Your FICO® Score
- Hurting your score
- 1. Serious delinquency
- 2. Bad payment history
- 3. Seeking credit
- 4. Short account history
You have a short credit history.
Your oldest account was opened 22 Years, 5 Months ago Average age of your accounts 11 years
 FICO High Achievers [?]opened their oldest account 19 years ago, on average. |
| Most FICO High Achievers [?]have an average age of accounts between 6 and 12 years. |
Starting Score: 656
@llecs wrote:Again, the 6-12 years is an average across everyone in every scoring bucket who has a score of 760+. This has nothing to do with your scoring bucket. Within your bucket, most of the folks have a higher AAoA and a longer credit history. Yours is lower in comparison. At the #4 slot, I wouldn't worry about it. You will gain more points as it increases, though.
Ok, maybe i get it, but I still think there is a mistake with the program if it can tell my my history is great in one section and its hurting me in another section.
Unless that first section "bucket" is comparing me to everyone with a 760+ score then I can see, but the wording still is horrible, if I fall within their examples.
Question 1:
Same report different information on each section.....Why does the FICO Score section have it Legth of credit History as VERY GOOD
Length of credit historyHow long you've had credit.
and in the Understanding your FICO score section it suggests it "hurting your score" On the same report.
Understanding Your FICO® Score
You have a short credit history.
Understanding Your FICO® Score
664
Question 2:
How does this change in 15 days with the only thing dropped is a Collection?
Understanding Your FICO® Score
659
FICO® Score SummaryLength of credit historyHow long you've had credit.
@Student_Loans_Kill wrote:
@llecs wrote:Again, the 6-12 years is an average across everyone in every scoring bucket who has a score of 760+. This has nothing to do with your scoring bucket. Within your bucket, most of the folks have a higher AAoA and a longer credit history. Yours is lower in comparison. At the #4 slot, I wouldn't worry about it. You will gain more points as it increases, though.
You are missing the point or not answering my question...
Question 1:
Same report different information on each section.....Why does the FICO Score section have it Legth of credit History as VERY GOOD
Length of credit historyHow long you've had credit.
and in the Understanding your FICO score section it suggests it "hurting your score" On the same report.
Understanding Your FICO® Score
Understanding Your FICO® Score
The "Very Good" is not "Great". There's room for improvement with age. It isn't at Great because compared to others within your bucket, your AAoA is low.
I share your loss of faith. I hate those "factors", always so nonsensical. I went back to some mortgage application docs today to gather score info for a post ("What kind of scores are these?") elsewhere on this board, and was reminded of two whoppers from that time.
EQ and EX said "Amount owed on revolving accounts is too high." It was $10, 0.03% of total CL $30K. I had been carefully keeping my balances LOW-but-not-zero, as recommended here.
TU said "Insufficient length of credit history." Oldest account was opened 35 years earlier, AAoA was 17.5 years. If that's insufficient, it's no wonder the credit system froze up.
And I had good scores! If you can't think of anything bad to say about someone, just make something up.
I complained about these comments to one of the LOs I dealt with. She said "They're all like that. I never pay any attention to those."
"Short credit history" could very easily be referring to revolving accounts, despite how long you've had student loans.
Hard to say. I try to ignore a lot of the advice and have been patiently awaiting the next SW alert.