May 2007: 778
Dec 2007: 786
Apr 2008: 698
Aug 2008: 836
I think it helps that the Chase mortgage shows closed but the BECU mortgage doesn't show up at all yet. Let's see...
Factors that most affect your score (listed in order of impact):
1. The available credit on your open revolving credit accounts is too low:
Having credit available to you is a sign that you are able to manage your finances responsibly. Lenders usually like to see that consumers have a large amount of credit available to them.
I think the AmEx is throwing this off. My personal credit card is about half full on it's $3k limit, and I'm paying it off at $500/mo right now.
The AmEx has a stupidly high limit and is mostly full. It's going to start seeing the benefits of that $500/mo as soon as my personal card is finished. At least part of it.
2. None of your real estate accounts show a credit amount:
Lenders may be able to better evaluate your creditworthiness if there is more information about your accounts on your credit report.
Eh? They all have numbers. Most of them are zero, because they're closed.
I think they're confused because the current mortgage doesn't exist to them yet.
3. Your oldest revolving credit account was opened too recently:
Time is an important factor for a healthy credit score. Giving the accounts time to mature may allow creditors to better understand how you pay your debts.
Pff. I got rid of all my credit cards and only got a new one a bit over a year ago, and we just refi'd the house and closed all the secondary loans against it. We're consolidating debt and I'm avoiding credit card debt, and this hurts me. Awesome.
4. You have too many bank credit card accounts with high utilization:
It is a good idea to use your accounts regularly, but remember to keep your balances low in comparison to your available credit limits. Too many accounts with high utilization will impact your score.
Again, one is at 50% and will be paid off in 3 months (could do it faster, but I like having /something/ left to play with), and the other is mostly full.
I really like, however, that they want you to have a lot of old accounts with high limits but not actually use them. It makes total sense.
If this credit report thing wasn't free, I would totally not bother. I think I may stop buying the credit score add-on. Cheap tho it is, it mainly just serves to remind me of how completely head-up-ass broken our whole economic system is.