How can all this stuff be wrong with me in my credit report and yet my scores are good?

[Squisher]

Got back all three of the reports from the credit reporting agencies after I pre-qualified for a mortgage and they all had this stuff in there:

TOO MANY ESTABLISHED ACCOUNTS
TOO MANY ACCOUNTS WITH BALANCES
AMOUNTS OWED ON REVOLVING ACCOUNTS IS TOO HIGH
INSUFFICIENT LENGTH OF CREDIT HISTORY

Yet, I got scores of 808, 829, & 796

And the bank approved me for a loan the size of a small country's budget.

?

 

[StageLeft]

That's because the reports also offer the reason why your score(s) is/are less than perfect, so you could raise them by fixing those issues.

 

[MiniDoom]

because you make the banks alot of money with high intrest rates.

 

[PricklyPete]

Originally posted by: Skoorb
That's because the reports also offer the reason why your score(s) is/are less than perfect, so you could raise them by fixing those issues.

What he said.

 

[Squisher]

Originally posted by: rdubbz420
because you make the banks alot of money with high intrest rates.

I haven't paid interest on my revolving accounts in 5 years.

My present mortgage is a 5.5%, and my one car loan is 0%

 

[Squisher]

Originally posted by: Skoorb
That's because the reports also offer the reason why your score(s) is/are less than perfect, so you could raise them by fixing those issues.

About the only thing I could fix is looking at all the cc accounts I have and close all the ones I don't use. I bet I have 20 cc accounts. I only use maybe 4.


The balances are needed for wife's work, where she charges business expenses and then gets a check for them once a month. I pay off all balances every month.