Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
BonnieKay

0 Contributions
0 People Helped
paying on time,not going over limit,have no mortgage or car loan why is my credit not improving?
I have not been late on my credit, paying on time, not going over my limits. I have no mortgage own my home outright, have no car payment anymore paid that off. I cannot understand why my credit score is not improving.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
0 People Helped

Improving Score

Excellent question!  Unfortunately, for regulatory purposes, Congress still has not taken any measurable steps to reign-in the credit scoring cartel by requiring them to explain in a transparent way just how they calculate consumer scores.  In the eyes of the law, it's still the untamed 1800's in the wild west:  Credit reporting/scoring cartels can do what they want without any oversight or regulation.

Your score is based upon a secret-formula(s) of many things, only a few of which are directly related to the simple question: Does this consumer pay their bills on time, yes or no.  The zip code in which you dwell could be taken into consideration for all we know....  i.e., "Does this consumer fit the profile of someone living in a minority neighborhood?", "Is this one of those people on that side of that town....?", etc....  without the credit cartel being forced by law to show how they score individuals, you'll never know what truly makes your score go up, down, or remain in place.

All you can do is bug and pester your US House of Representatives member, and your two US Senators.  Perhaps one day Congress will awaken and address this issue that impacts such a disproportionately-high amount of our lives.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.