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calesta

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I need to know why I have a thin file, I reviewed to reason for it and NONE it applies to me .

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THIN CREDIT

Usually means you haven't sought credit or taken on debt to buy much.  I decided to live "debt free" so had no credit of any kind after I paid off my car loan (bad idea).  My credit score was 570 because I had no open accounts.  Even though I had paid off my car loan without a late or missing payment, it was a CLOSED account, so only contributed to the length of my credit histroy.  65% of your credit score is based on how well you are paying OPEN accounts and credit utilization.  With no open accounts and no recent payment history on any debts, my credit was VERY THIN.

So if you have been told your credit history is "thin", how many OPEN ACCOUNTS do you have?  What is the length of your credit history?  If you have only 1 or two OPEN accounts and have been paying on credit for short amount of time, your CREDIT IS THIN.

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