Score is so low..Is this why

I have 1 Collection account place 9/98 closed 11/98 which was for a 93 dollar medical bill which is now paid, and about a total of 5 late payments. None over 30 days from back in 1999 and 1998 on a total of three charge cards.

I do have several Charge accounts very small ranging from 300 to 2k. All of which are just about maxed with a few exceptions. I also have several recent inquieries went looking for a new car at several places over a couple weeks , and I totalled about 15 new inquiries. Credit History goes to 1995 on a couple good standing store credit accounts when I was 18 which have been closed. Current accounts go back about 2 to 3 years. with 3 new accounts being opened this year. Total credit card debit is about 4500 which I am paying all of it off with this years tax return.

Things I have recently done, Gotten a repo taken off of my credit reports from all three agencies. Have had about 4 accounts with lates switched to Paid/Never late. and my score doesnt really move Low 600's we are talking like 620 tops

I just closed on a home in Jan of 2002, 198,000 was pretty simple being a first time buyer and single lots of programs in my area, got a rate of 6.5 no points.. 30 years.. But the downside is that the mortgage company doesnt report the loan unless you are late. Which of course I have never been. Some say it is good, meaning it will allow for me to get the car I would like without having to disclose my monthly payment on my home, others say it is horrible, cause mortgage payments can really help.. Who knows I talked to them, and they will not report good standing accounts to the credit MOBSTERS... ;)

The concern with my credit score is due to the fact I have been paying on a 2001 Grand Am for 26 months at 19% interest.. Need i say more... :(

Still cant get a rate Below 10% which still isnt worth picking up a new loan for in my opinion since I am finally getting to the principal on this car. Question is will paying my credit cards off and not having anymore inquiries for at least 6 months improve my score a great deal. Right now I am about 85% to 90% maxed on all my credit cards.. Perhaps 6 or 7 totaling 4500. But after reading this board for several months, I have seen people with leins and several collections & late payments have alot better scores then I do. I know my credit history is short due to my age 26.. cant do much about that.. But is the negative I listed that horrible ..

Thanks all in advance.. This site has been a godsent

Thought this might help..


Your Credit Report as of 12/25/2002
This Credit Report is available for you to view for 30 days. If you would like a current Credit Report, you may order another from MyEquifax.

FICO Score is 621




Personal Data



Employment History
Employment Date: Verified Date:
Public Records


No Public Record Information on file.
No bankruptcies on file

No liens on file

No judgements on file

No garnishments on file

No secured loans on file

No marital statuses on file

No financial counseling on file

No foreclosures on file

No non-responsibility entries on file

Collection Accounts

Client: Assoc in Famil Account Number: Qx1XXXX Date Reported: 07/2002 Amount: 93 Balance: 0 Balance Date: 07/2002 Last Activity:09/1998 Date Assigned: 11/1998 Collection Status: PAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Certified Services
128 Madison
Waukegan,IL 60085-4389
Status Date: 07/2002 Note: CONSUMER DISPUTES-REINVESTIGATION IN PROCESS



Credit Information

Company Name Account Number Date Last Type of Account High Items as of Date Reported Date
and Whose Acount Opened Activity and Status Credit Terms Balance Past Due Reported


Bank One 1xxxxxxxXXXX
INDIVIDUAL ACCOUNT 11/1998 03/2002 Revolving
PAYS AS AGREED $1052 10 $0 07/2002
Prior Paying History

CONSUMER DISPUTES-REINVESTIGATION IN PROCESS


--------------------------------------------------------------------------------

Capital One 41xxxxxxxxxXXXX
INDIVIDUAL ACCOUNT 03/2000 12/2002 Revolving
PAYS AS AGREED $484 13 $458 12/2002
Prior Paying History

CREDIT CARD


--------------------------------------------------------------------------------

Capital One 52xxxxxxxxXXXX
INDIVIDUAL ACCOUNT 02/2001 11/2002 Revolving
PAYS AS AGREED $330 10 $254 11/2002
Prior Paying History

CREDIT CARD


--------------------------------------------------------------------------------

Conseco Finance Corp. 6xxxxxxxxXXXX
INDIVIDUAL ACCOUNT 05/2002 11/2002 Revolving
PAYS AS AGREED $2000 49 $1885 11/2002
Prior Paying History

CHARGE
AMOUNT IN H/C COLUMN IS CREDIT LIMIT

--------------------------------------------------------------------------------

Customized Auto Credit xxxxxxxxx
INDIVIDUAL ACCOUNT 11/2000 12/2002 Installment
PAYS AS AGREED $26933 408 $17139 12/2002
Prior Paying History




--------------------------------------------------------------------------------

Dayton Hudson Operations Ctr 3xxxxxxXXXX
INDIVIDUAL ACCOUNT 06/2002 11/2002 Revolving
PAYS AS AGREED $53 10 $53 11/2002
Prior Paying History

CHARGE


--------------------------------------------------------------------------------

First National Bank 4xxxxxxxxXXXX
INDIVIDUAL ACCOUNT 03/1999 06/2001 Revolving
PAYS AS AGREED $400 $0 06/2001
Prior Paying History

ACCOUNT CLOSED AT CONSUMER'S REQUEST.
PAID ACCOUNT/ZERO BALANCE

--------------------------------------------------------------------------------

First National CC Cmc 44xxxxxxxxXXXX
INDIVIDUAL ACCOUNT 08/1998 03/2002 Revolving
PAYS AS AGREED $250 $0 04/2002
Prior Paying History
30 days past due 01 times; 60 days past due 00 times; 90 + days past due 00 times;
ACCOUNT CLOSED AT CONSUMER'S REQUEST.
PAID ACCOUNT/ZERO BALANCE

--------------------------------------------------------------------------------

Hhld Bank/Bestbuy xxxxxxxxxxxxxxxxx
INDIVIDUAL ACCOUNT 10/2002 12/2002 Revolving
PAYS AS AGREED $2000 38 $1368 12/2002
Prior Paying History

CHARGE


--------------------------------------------------------------------------------

Household Bank 54xxxxxxxXXXX
INDIVIDUAL ACCOUNT 11/2002 11/2002 Revolving
PAYS AS AGREED $800 $74 11/2002
Prior Paying History

CREDIT CARD
AMOUNT IN H/C COLUMN IS CREDIT LIMIT

--------------------------------------------------------------------------------

Household Bank 5xxxxxxxXXXX
INDIVIDUAL ACCOUNT 01/2002 11/2002 Revolving
PAYS AS AGREED $700 $655 11/2002
Prior Paying History

CREDIT CARD
AMOUNT IN H/C COLUMN IS CREDIT LIMIT

--------------------------------------------------------------------------------

Household Bank 4xxxxxxxXXXX
INDIVIDUAL ACCOUNT 07/1996 02/2002 Revolving
PAYS AS AGREED $245 $0 07/2002
Prior Paying History

PAID ACCOUNT/ZERO BALANCE


--------------------------------------------------------------------------------

J.B. Robinson xxxx-xxxxxXXXX
JOINT ACCOUNT 07/1995 10/1999 Revolving
PAYS AS AGREED $2026 120 $0 08/2002
Prior Paying History
30 days past due 01 times; 60 days past due 00 times; 90 + days past due 00 times;
ACCOUNT CLOSED BY CONSUMER


--------------------------------------------------------------------------------

Nationwide Loan 4xXXXX
INDIVIDUAL ACCOUNT 02/1998 12/1998 Installment
PAYS AS AGREED $1334 111 $0 07/2002
Prior Paying History

PAID ACCOUNT/ZERO BALANCE


--------------------------------------------------------------------------------

Orchard Bank 47xxxxxxxxxXXXX
07/1996 02/1998 Unknown
LOST OR STOLEN CARD 03/1999
Prior Paying History

AMOUNT IN H/C COLUMN IS CREDIT LIMIT


--------------------------------------------------------------------------------

Providian/Card Works 5xxxxXXXX
INDIVIDUAL ACCOUNT 01/2001 12/2002 Revolving
PAYS AS AGREED $600 18 $598 12/2002
Prior Paying History

ACCOUNT CLOSED AT CONSUMER'S REQUEST.
CREDIT CARD

--------------------------------------------------------------------------------

Sears 1xxxxXXXX
INDIVIDUAL ACCOUNT 11/2000 12/2002 Revolving
PAYS AS AGREED $537 $199 12/2002
Prior Paying History

CHARGE
AMOUNT IN H/C COLUMN IS CREDIT LIMIT

--------------------------------------------------------------------------------

Additional Information

Companies that Requested your Credit File

12/24/2002 Equifax - Disclosure

12/22/2002 Equifax - Disclosure

12/15/2002 PRM-Percision List Services

12/06/2002 PRM-First Premier Bank Promo

11/30/2002 PRM-Citifinancial

11/27/2002 PRM-Town & Country

11/23/2002 AR-Capital One

11/21/2002 PRM-At&T Wireless

11/18/2002 AR-Household Bank

11/15/2002 Equifax - Disclosure

11/14/2002 Household Bank

10/30/2002 Household Credit Services

10/28/2002 Home Depot/MBGA Credit Ctr

10/24/2002 AR-Household Bank

10/17/2002 PRM-Western SIERRA Acceptance

10/08/2002 PRM-Direct Lending Source Inc

10/03/2002 PRM-DM Services, Inc.

09/27/2002 AR-Capital One

09/25/2002 PRM-Direct Lending Source Inc

09/24/2002 AR-Household Bank

09/12/2002 PRM-First Premier Bank Promo

09/03/2002 PRM-CB&T

08/15/2002 AR-Household Bank

08/14/2002 PRM-CB&T

08/07/2002 PRM-Western SIERRA Acceptance

08/01/2002 AR-Capital One

08/01/2002 Equifax - Disclosure

07/31/2002 Norwest Financial Services

07/22/2002 PRM-Western SIERRA Acceptance

07/18/2002 Equifax-Auto MTNC Update

07/17/2002 AR-Household Bank

07/16/2002 AR-Customized Auto Credit Service

07/15/2002 AR-Capital One

07/08/2002 PRM-First Premier Bank Promo

07/05/2002 Conseco Finance Corp

06/21/2002 Equifax - Disclosure

06/21/2002 Retailers Natl Bank M Fields

06/19/2002 AR-Household Bank

06/13/2002 Equifax - Disclosure

06/07/2002 PRM-Western SIERRA Acceptance

06/06/2002 PRM-American Express

05/31/2002 Retailers Natl Bank M Fields

05/28/2002 ID-FNANB

05/24/2002 AR-Capital One

05/23/2002 PRM-Hamilton Capital Group

05/22/2002 AR-Household Bank

05/08/2002 At&T Wireless Services

05/07/2002 PRM-First Premier Bank Promo

04/29/2002 AR-Household Bank

04/28/2002 AR-Capital One

04/17/2002 PRM-Bar None Consumer Finance

04/04/2002 PRM-Worldcom Wireless

03/26/2002 PRM-First Premier Bank Promo

03/22/2002 AR-Capital One

03/20/2002 AR-Household Bank

03/11/2002 Household Bank

02/28/2002 PRM-MCI Worldcomm/Market Touch

02/25/2002 PRM-Percision List Services

02/22/2002 AR-Capital One

02/21/2002 AR-Household Bank

02/21/2002 PRM-MCI Worldcomm/Market Touch

02/18/2002 PRM-CB&T

02/08/2002 PRM-Western SIERRA Acceptance

01/31/2002 PRM-MCI Worldcomm/Market Touch

01/28/2002 AR-Capital One

01/25/2002 EU-Choicepoint, Inc

01/25/2002 AR-Household Bank

01/19/2002 AR-Capital One

01/15/2002 Household Bank

12/05/2001 EU-Information Network

12/04/2001 EU-First American Credco

10/31/2001 Gecccc

06/19/2001 Equifax Consumer Services

06/08/2001 CD-Consumerinfo.Com

05/10/2001 At&T Wireless Services

01/16/2001 Capital One



THE FOLLOWING INQUIRIES ARE NOT REPORTED TO BUSINESSES:
PRM - This is a promotional inquiry in which only your name and address were given to a credit grantor so you could be solicited with an offer such as a credit card. (PRM inquiries remain on file for 12 months.)
AM or AR - These inquiries indicate a periodic review of your credit history by one of your creditors (AM and AR inquiries remain on file for 12 months.)
EQUIFAX, ACIS or UPDATE - These inquiries indicate Equifax's activity in response to your contact with us for either a copy of your credit file or a request for research.
PRM, AM, AR, INQ, EQUIFAX, ACIS and UPDATE inquiries do not show on credit files that businesses receive, only on copies provided to you.

Did your score go up when you disputed the collection? It doesn't look like you got the unlimited reports, but that would show you.

And why are you disputing Bank One?

You say the lates are from 99, so they don't make much of a difference.

Why not LOOK at the reasons for your low scores? You should have at least two. What are they?

And what are the positive factors?

Looks to me like your B/L ratio is really high.

... and nobody is allowed to know why scores goes up or down-- it's arbitrary, and not even lenders are told the secret. models we are all judged by seem to operate on some form of bell curve, so everyone gets a score as much dependent upon what others are doing with their finances as what you or i are doing with ours. all of our lives and financial futures are dictated by an assemblage of governmentally secretized computer programs which may or may not function properly at any given point in time. a perfect creditor profile doesn't translate to a pefect score, or even an acceptable one, as the computer software producing the scores is PATENTLY DEFECTIVE.

the federal government, appropriately "lobbied," has written the scores into law, by which lenders, and now insurers, have a carte blanche to price-gouge [legally steal from] every consumer who has a mortgage on their home, drives a car, and/or insures these activities.

consumer rights and recourse are no more-- under the law, there is no means to challenge or dispute the arbitrarily assigned FICO score. no one, not even lenders themselves, is allowed to know what comprises these scores, or how to advise clients to improve them.

five years of research, five years of the best legal advise money can buy here in boston, and i'm up at 7am babbling through one more liter of booze.

perhaps i deserve to be sent to the moronic poster section, as do we all. in today's financial world, FICO is GOD-- i did the research when i was at harvard; my master's thesis was to be nostredame but i got into real estate before going for a double major in french language and history of science.

we all know the problem, but nobody has a solution. a series of faulty computer programs has been delegated control over every aspect of the lending industry, that which constitutes the basis of the federal reserve itself, and it's all one big secret. we lost the gold standard in 1933, and the silver standard in 1965-- today, all the cash you can carry is backed by only one thing:-- faith in uncle sam. the entire construct of the US money supply is based upon borrowing, and it has held up strongly through government support even though it is now backed only by promissory notes. fannie & freddie are now carrying a portfolio greater than the entire national debt, and guess who is controlling the viability of all of that promissory liability? you guessed it-- {UN}fair isaac. if their secret quackware stops carrying the weight, somebody else has to step in. $3 trillion in debt-- do you think congress is going to pick up the tab in this economy, with an iraqi war looming on the horizon?? think again, folks. guess where the stock market's going to go-- hell. the bond market collapses, and guess where interest rates will go-- to heaven. our backed-by-nothing currency has an equally joyous ride to ramble about with. the real estate sector is the last leg our economy has to stand on, and FICO has been delegated complete control, bleeding consumers dry based upon a global application of its largely arbitrary and incapacitant borrower modeling programs. any consumer market environment can withstand only a certain amount of abuse before suffering a total breakdown, and while it appears that this threshold has not yet been reached via constraints the federal government imposes upon the free market enterprise of consumer lending, mortgages in particular. FICO scoring has eliminated free market enterprise in this sector entirely, usurping the availability of federal funds at considerable discount, and offering this money to consumers at a graduated scale of interest rates based upon how applicants may attain scores based upon criterion neither the borrower nor the lender are allowed to understand, much less consider. the loans are collatoralized with real property; large or small, the secretive score determines all terms and conditions, regardless of loan to value ratios, borrower income, and/or past history of responsible repayment of debts and financial management.

a sophisticated legal construct has been formulated in advance such that no consumer may dispute or even question the score he/she receives from the secret software controlling their lives. what the computer spits out is law, and destiny. it cannot be challenged or presented to an impartial judicial body, even a bank president or judge.

FICO says, lenders/insurers DO control everything you can DO.
revelation 13: 16-18.
this is only the beginning--:confused:

did you know that 30% of your score is amount of revolving credit used. My 80/20 loan hit. The 20% part hit as a revolving line of credit. I lost 84 points because of course 20% of a house is huge and my total available credit is only 6% now. Also, your score takes into affect how many cards you have are 50% or over usage. You are losing like double points. I would bet if you paid your cards down you will find yourself over 700 score.

Thanks guys, yeah the reason code on my report was Balance to limit ratio.. Which I have improved by buying then returning some Merchandise with the Capital One and Marshall Fields accounts.. and then since this is my first year as a homeowner, and I will be getting back some decent money from my Mortgage Interest which is 6.5% on $198.000 I will be paying the Majority of my credit cards pretty much off.. The other one was Time of credit history.. Hey only so much I can do, I am 26 , and hey.. what can ya do.. Along with the final code.. I opened two new accounts... Got a best Buy card, and then Household who owns the best buy account, sent me a mastercard from them.. So I opened both of them.. So those two accounts didnt help.. But owe well.. I will have I am hoping above 680 in about 6 months when I try and get a lease on a new car...

Want to thank everyone for taking the time to answer my questions..

Hey one thing that is going for me, is that my Mortgage Company Which is LHI Mortgage.. Does not report thier loans to the CRA's unless you default or are over 60 days late on a payment.. Sure it might hurt the score.. but my Debit to income ratio looks AWESOM when I go to get the New Hummer H2 ..lol Just lie and say I live with my folks.. I really dont care, if the Dealer thinks I am a bum, buying a 52k car and living with his folks...

Once again thansk for all the help, this place has really helped me out alot.. Got alot of late pays off, Along with a Repo from back in 97/98. Damn Trans Am... Drove a 26000 car off the lot, and it droped to 16000.. Be warned youngsters.. Dont make the same mistake I did.. oh why bother.. People told me the same thing, and I still went and got the car.. Thanks again all

Not to be hyper-critical or anything, but why would you buy a $50K car while carrying $4500 in cc debt?