I'm really confused. My EX score is as high as it's ever been, possibly bc I only have one---yes ONE credit card reporting. The bal is less than $2,000. Util is 3%. I have 13 CCs, a student loan, and an auto loan. I saw the "accts w bal" reason for my EX FICO 2 Auto score. It also says that my report may show a bal even if paid in full each month. What? Please explain.
Also, for full disclosure, the student loan bal is higher than the original loan amt, but that's listed as a diff "reason for score". But, could that somehow be part of the reason for that "accts w bal" factor?
I'm guessing they're referring to the fact that if you pay after the statement cuts, you will still see the balance reporting until the next month where it would normally update to zero.
They could also be referring to the residual interest that gets charged to the account even when you PIF (to account for the days between statement generation and the day you paid).
When it says credit accounts. Least it isnt credit card acounts. So its taking in all of your accounts. They have to put some reason in there. Your AZEO, least you posted you are, got loans, and the overdraft SL may have triggered it. I would take it as a grain of salt. Who gets its all perfect reasons and no fluff stuff. None.
If you took a poll. I bet everyone will have some type of comment from the sites who give scores. Even folks in the 800's.
Unless I am at 850 on Fico 08, I'm usually presented with some negative factors. To be fair, the reasons given are probably correct in that they are why my score is not 850. For the "too many accounts with balances", I personally received that remark when 50% or more of my open accounts (all accounts, not just credit cards) had a balance no matter how small the dollar amount.
I view these reason codes similarly to the poorly translated instructions you get with cheaper products: There is often a lot that is lost in the translation.
These codes are shorthand for factors used in the algorithm which is used in determining your score. Over time you start figuring out what they may actually mean in your case, but you can be sure you are missing something.
The take away is that they mean something, but not necessarily what they seem to explicitly state. Learn the best practices described on these forums and use them to frame the comments. That often helps them make some sense.
Good luck and try not to stress too much over them.
