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Posted in Credit Scores
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Question By
bac512

3 Contributions
1 Person Helped
WHY is my credit score so low?!
I've gone through just about every scenario possible on the credit score simulaor, and apparently there is NOTHING I can do to raise my score.
My current situation:
B-credit cards utilization HIGH Impact (37%, 45,000 limit)
A-payment history High Impact (100%. 94 payments on time)
A-age of credit Medium Impact (28 yrs, 13 average)
D-total accounts Low impact (7, 4 open 3 closed)
B-credit inquires Low impact (2 hard)
B-Derogatory Marks Hgh impact (1)

But my credit score is showing as a D, like 631 I think?
my open accounts are 3 credit cards (1 just opened, that raised my credit score by 17 points), and 1 mortgage. The score simulator shows either drop in my score, or my score remaining the same, no matter what I do !

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You should be working on 2 things

*)  "B-credit cards utilization HIGH Impact (37%, 45,000 limit)" - Get your Utilization under 20% and keep it there,  Better yet get it make that under 10%.

*) "B-Derogatory Marks Hgh impact (1)" -  Work on getting this off your Credit Report,  if you can't get it off you will have to wait for it fall off.

Reply by
bac512

3 Contributions
1 Person Helped

Right, I understand those are not perfect.  But still, a D because of 2 B's?  The Derogatory Mark was years ago, will probably be falling off soon, and the credit utilization isn't THAT bad, plus,  own several house free and clear, but because of the D, I can't refinace them and pay my credit down!  Credit scores should take assets into consideration too.

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Helpful to 0 out of 1 people

I'm not sure if you're talking about your actual credit report or the credit score analyzer tool on the website. For the actual credit reports see above answers. For the info as to why your score will not change on the credit analyzer tool.... The tool is broken and doesn't work. Hope that I helped in some way :)

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