Overall it was a “good” score, but the possible reasons why my credit score might be lower than “perfect” are completely counter intuitive to me:
Your report does not show any recently opened credit accounts or loans with a credit rating. Having recently opened credit accounts or loans with good credit ratings as part of your credit history can have a positive impact on your credit score. (Apparently in order to manage your credit properly you need to constantly open up more credit, thus making sure your able to rack-up as much possible debt!)
Your report does not show any usable/valid real estate loans, such as a mortgage. Having valid real estate loans with good payment history as part of your credit history can have a positive impact on your credit score.
(In order to have good credit you need a house, but in order to get a house, one needs good credit)
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.
(This one is the most troubling, by not asking for high amounts of credit limits simply because there’s no need to increase the amounts is a bad thing!? I have three credit cards, of which I only use one on a monthly basis and the total credit line across all three is roughly 15-20% of what my gross yearly salary - close to 40% of what I take home!)
Your report shows that the time since your oldest revolving account, such as a credit card, was opened is too short. Having revolving accounts open for a longer period of time can have a positive impact on your credit score.
(I’ve had a credit card since I’ve been in highschool…)
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. (I have no control over who pulls my credit score! The fact that this affects it at all is bullshit!)
The way what the credit system works in the US is asinine! This is why I prefer to deal in cash!
