Vantage score of 850? Why?
I just got my credit report and received the following:
Your VantageScore is: 850 on a scale of 501-990.
Your Credit Category is: Prime Plus
Percentile: Your credit rating ranks higher than 73.77% of U.S. consumers.
What factors lower your VantageScore:
Your report does not show any real estate loans, such as a mortgage, with a valid loan amount. Having real estate loans with a valid loan amount as part of your credit history can have a positive impact on your credit score.(52)
The sum of balances on your credit card accounts is too high. Having high balances on your credit card accounts has a negative impact on your credit score.(BN)
Your report shows that the available credit across your open, recently reported revolving accounts, such as a credit card, is too low. Having low available credit amounts on revolving accounts has a negative impact on your credit score.(RL)
Your report shows that the ratio of balances-to-credit-limits across your open credit accounts or loans is too high. Having a high proportion of balances to credit limits on your credit accounts or loans has a negative impact on your credit score.(TQ)
Your report shows one or more inquiries on file. Each time a potential lender pulls your credit report for review, an inquiry is placed on your file. While having inquiries on file does affect your score, the impact is minimal.(Q0)
Now I don’t get this: my credit card utilization is LOW, how how can they say “Your report shows that the ratio of balances-to-credit-limits across your open credit accounts or loans is too high”? How can they say the sum of my balances is high?
I have 2.5k debt with around 60k total credit available. It’s been this way for a while too. I sold my house couple months ago so that got rid of my mortgage. Could this affect it in any way?
Judy, did you even read my question? The whole thing? The end of it? Where I say I have 2.5k debt with 60k credit available?