Captain_Marvel wrote: On a True Credit report there is an entry under Here's where you can improve;  "Your mortgage account balances are too high in comparison with your credit limits".  Does FICO have a similar criteria which compares mortgage balance to cc limit? That message pertains to the mortgage balance ratio. ... View more

@Anonymous wrote: @posterbob wrote: I pulled the score from this web site. I also acquired a copy from a mortgage broker who pulled it a day later. Nothing had changed. This is fact I saw it with my own 2 eyes. I am not trying to ascertain what happened at that very moment. That would be impossible. If you like I can post quotes from others who have had the same thing happen to them. I know where to get a few thousand. It Several possibilities come to mind. First, something may have changed. Second, maybe you and the mortgage broker pulled from different CRAs. Third, you may have pulled FICO while the broker pulled FAKO (or visa-versa if you didn't pull from Fair-Isaac). Also, there are different FICO scoring models used for different lenders - the choice is theirs to use the 'standard' FICO or an enhanced score. CC enhanced score for CCs, auto enhanced for auto loans, etc.   It's not a conspiracy, have no fear!  :) ... View more

masdeocho wrote: TheNewWorldMan wrote: When I first came here, I wasn't exactly calm, cool and collected myself. The FICO system was enough to make me blow that proverbial 50-amp fuse. I remember the good ol' days ... TNWM has mellowed out for sure, man.  Heh... He used to be something other than mellow??? Nooooo, say it ain't so! ... View more

I've never thought of this circumstance, but I can see where it would be a thorn. While the older accounts are still there and counting, every 'new' account added shortens the overall history length... if you only have 2 accounts and they are 20 years old, the average age is reduced considerably by the appearance of 5 new accounts.   Example:   Account 1: 20 years Account 2: 20 years Account 3: 5 years Account 4: 4 years Account 5: 3 years Account 6: 2 years Account 7: 1 year   Those 2 old and faithful accounts don't mean a hill of beans now - average age has been reduced to just under 8 years old. Ouch! ... View more

lowermyrate wrote: I'm about to get married in one month, and my soon to be wife credit score is worst than mine. I doing everything possible to raise it. I'm  at 580. And started goodwill letters and disputes on my own. We her score effect mine once we are married. We have no joint accounts together No, it won't affect your score; you each have seperate credit files. If, and when, you have joint accounts, only those accounts will report on both files. ... View more

Porscheturboman wrote: Just to be on the safe side, I checked with Equifax directly.  They informed me that an inquiry by an insurance company counts the same as any credit inquiry. For the record, I've never had a hard pull from any insurance company - always a soft pull that doesn't affect the score. If in doubt, ask the insurance company, they'll tell you!   Maybe someone from the insurance biz will chime in here, but there is no reason for them to check credit with a hard inquiry; they're not actually extending credit, they're only checking for predictive claim probabilities. ... View more

You have a point on the good faith to new folks, so to that I say, "Yes Daddy, I'll behave." LOL (Dang, I hate it when parents are right!)   I will say that I think mentioning the warning letter and the 15 point drop were deliberate though - what kind of warning letter could he have gotten from FICO? Rubbish! Unless of course the letter referred to was an email with the alert, then I could see how it COULD have been construed that way... kinda sorta maybe in a small way.   Either way, I'll try to behave in the future. :( ... View more

There is no difference in your FICO score between a secured CC or unsecured. Be careful of inaccurate information   Not true - unsecured cards are issued by some of the largest banks in the world. Be careful of inaccurate information   The credit ratio - difference between balance and Hi limit is the most important factor. Be careful of inaccurate information  No one said there was a difference between secured and unsecured CC reporting - the discussion was joint accounts and Authorized Users.   No one said unsecured cards weren't issued by large banks.   Yes, the credit ratio is the most important factor in FICO scoring for CCs, but no one said it wasn't; again, the question and discussion were about joint accounts and then AUs. And just because I'm being difficult lately, I'll point out that the ratio isn't the difference between balance and hi limit. The difference would be the available credit. If you're going to explain the ratio, please explain it correctly.   Please read more carefully before disagreeing with accurate posts and do be careful of inaccurate information.  :) ... View more

alixwooten wrote: Errr... I'm a little confused why some of the posters with experience and who have posted helpful information previously and on other threads chose to belittle and make fun of this person's questions even if they are apparent misconceptions?  Not to be rude to the OP but from reading the original post it seems that there is a language barrier.  Maybe s/he didn't know how to quite phrase the question or concern regarding how race and religion may affect our FICO score?  I know when I first started reading this website it took me a while to find that information.  Considering that so many things in our lives are affected by race or religion - at least de facto, even if not de jure - it's not surprising that someone could believe that it would be the same in the realm of credit scores.  Anyone who contributes to this forum might consider probing for understanding and then educating first, leaving dismissive and biting humor for it's appropriate venue. I don't see any evidence of a language barrier at all, not sure why you think that.   But c'mon... insinuating that his score dropped 15 points after receiving a warning letter for the post? LOL.. FICO is a scoring system, not the Mafia! ... View more

FICO_Guy wrote: I just got an email worning. My Fico just dropped by 16 point since the first post. Okay I get the massage. I'll stop posting   LMAOOOOOO So now you're going to try and make us believe your score changed because of your unfounded and outrageous 'expose'?   I think you should consider seeing a psychologist for paranoia. Message Edited by SoulSmilen on 07-04-2007 02:26 PM ... View more

bobkelly wrote: As the originator of this thread, I'd like to clear up a few assumptions about myself and the assumptions made by many posters so far.   First off, I can't belive how many people get so upset here when one believes in a more conservative, or alternative way of thinking about debt.  I currently have no debt except my home mortgage.  I am 34 years old with a wife and one child.  I am a Catholic, not a born-again Christian , so my religious beliefs have some similarities with the radio host and author, Dave Ramsey, but I don't agree in many of the religious ideas of Born Again Christians, but this is not pertinant to a financial discussion whatsoever.    I make over $90,000 a year, and my wife makes $30,000.   Like most couples, we used to fight alot about money, so we decided to pay off all of our credit cards and student loans QUICKLY (within 2 years).  We made it in less than that.  I also have a total of just over $100,000 in our 401K's and IRA's. Our home in Illinois has about $60,000 in equity.    If those who are doing as well as, or better than my family, and at a similar age to myself, I say great job.   To others whose net worth is much lower, I say, try to have a more open attitute to those like myself, who are taking a more fiscally conservative approach to personal finance.    Signed, Bob   Bob,   This post is much more amenable than all of your others put together. If you'd approached this subject with this post to begin with, you would have been congratulated and welcomed with open arms.   I do say congrats on the fiscal responsibility, sincerely. I don't, however, understand why you bashed mortages so badly when you are a homeowner yourself. Do you see why people reacted the way we did? ... View more

JemiBlue wrote: What is Vantage scoring? http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=18521&jump=true ... View more

Yes, it's legit - a last resort for many in getting financed.   They use Vantage scoring; if you have derogs and lates, it'll be tough. ... View more