Credit report questions

[vass0922]

Recently had a little problem with one of my credit cards lowering my credit limit due to a "problem" on my credit report. Said I could order a free copy of my credit report from equifax to find the problem.

Well it seems I can't find any problems.
All status are said to be "Pays as Agreed"
I've made no major purchases on credit in quite some time.

Date first major delinquency reported is blank on every one.

I thought maybe it was because I kinda screwed up with my school loans a bit ago, but got those cleared up with a consolidation loan. Those all look cleared and previous accounts closed as they should be, except Sallie Mae which says "Account too new to rate" considering I've had them for 3 years I find that hard to believe *shrug* (accounts are also closed as they should be)

I have a few accounts that aren't closed, but are a number of years old like 6 or 7 (I think one bank doesn't even exist anymore!) but balance is zero as they should be.

Questions:
1. Do those old unclosed zero balance accounts count against me?
2. Is there something else I should look for to show me the light?

I'll be calling the credit company in the morning to see what I can do. I don't really care about the credit limit much, but I don't want it on my credit that they lowered it due to bad credit.

I don't see any "anomalies" that would kill me either.

[osprey4]

The credit card company is obligated to provide you in writing the reasons for changing your credit rating.

That said, there are plenty of other companies that would be more than happy to give you a card, transfer your balance, etc.

[rubyred]

I sometimes get cards like at penneys just for the 10% discount and then never use them, once my limit went down to 250.00. which was enough to purchase a diamond wrap for a ring draboo bought me. anyway that was why my limit went down, no use on the card. I guess the limit only goes up if you use them.

[sao95]

if you look at your credit report, below a credit listing there are usually three sets of numbers, those numbers are what count against you as they mean times late payment for 30 days 60 days et cetera..

[MTAtech]

Me too ruby. Over the years I've accumulated lots of these. Currently, the biggest advantage is the 0% offers. I just took out a $55,000 cash advance at 0% not due until Sept 2004. Until then, the money is going to be in the bank earning interest.

I suggest vass0, you ask the bank to be more specific about what on the credit report made them decide what they did.

[osprey4]

Smart money, MTAtech. I might do some looking around myself. Where did you find that deal?

Think of all the toasters you could get?

[vass0922]

I tried calling them at the number they provided
Didn't tell me anything except to tell me to talk to the credit agency to dispute stuff cause they won't help me

I'll try their normal customer service number tomorrow
Its either that or I gotta write a letter to request written information about the problem
hate that written stuff.. why can't I just email!?
(rhetorical question btw)

[Gomer]

Missing payments is not the only thing that hurts your rating.

Too much debt/too much available credit will bring your FICO score down. That FICO score is what they base your credit rating on.

Your FICO score takes into account how much of your total credit line is being used on credit cards and other revolving credit accounts. Someone who is closer to “maxing out” on many credit cards or has large amounts of outstanding debt may have trouble making payments in the future, and this risk is reflected in the FICO score calculation.

applying for more credit will cause your FICO score to drop:

Applications for credit show up as inquiries on your credit report, indicating to lenders that you may be taking on new debt. You may want to use the credit you already have to prove your ongoing ability to manage credit responsibly.

If you do have negative information on your credit report, such as late payments, a public record item (e.g., bankruptcy), or too many inquiries, you may want to pay your bills and wait. Time is often your best ally in improving credit.

One common question that many consumers have regarding their credit score involves understanding how very specific actions will affect their credit score. For example, someone might ask if closing two of his/her installment accounts would improve his/her credit score. While this question may appear to be easy to answer, there are many factors to consider. A credit score is based entirely on the information found on an individual’s credit report.

Any change to the credit report could affect the individual’s score. Simply closing two accounts not only lower the number of open installment accounts (which generally will improve your score) but it also lowers the total number of all open accounts (which generally lowers your score). Furthermore, such an action will affect the average age of all accounts that could either raise or lower your score. As you can see, one seemingly simple change actually affects a large number of items on the credit report. Therefore, it is impossible to provide a completely 100% accurate assessment of how one specific action will affect a person’s credit score.