Forum
|
|
Forum
|
     | Saturday, February 03, 2001 - 11:38 am  WHen calculating credit scores, is the balance to limt ratio determined on each revovling account or just the total of all balances and limits?
|
| | Saturday, February 03, 2001 - 02:13 pm I *think* it's the total of all accounts in a certain category, i.e. revolving bank cards or installment.
|
| | Saturday, February 03, 2001 - 03:01 pm Thomas: I believe that parts of credit scores are affected by the balance/limits across a category, like Christine said. Other parts of credit scores could look at the number of accounts that are above a certain balance/limit ratio. I wouldn't be surprised if Fico looks at both.
|
| | Saturday, February 03, 2001 - 08:00 pm Is there an authoritative list of adverse reason codes? Like from Fair, Isaac or a CRA? The list that seems most accurate to me, of all the ones I've seen, is: http://www.bestinservice.com/Resources/ReasonCodes/reasoncodes.html Reason 10: "Proportion of balances to credit limits is too high on bank revolving or other revolving accounts." Reason 33: "Proportion of loan balances to loan amounts is too high" Reason 44: (apparently never given) "Proportion of balances to loan amounts on mortgage loans is too high" To guess at your question, I think it's the total of all revolving (bank and anything else marked revolving including both open and closed accounts) balances against the total of all revolving (bank and anything else marked revolving including both open and closed accounts) limits. Anybody have any idea what reason code #1 means? "Amount owed on account is too high" What the hell is too high? I'm serious by the way. Is this something that always changes like factoring in inflation and the average salary or something? Or is this really another ratio? Like too high compared to your limit? Does anybody have any idea?
|
| | Saturday, February 03, 2001 - 09:27 pm Is there an authoritative list of adverse reason codes? Like from Fair, Isaac or a CRA? Erik, funny you should ask. http://www.bayhouse.com/FairIsaac-FICO-risk-factors.shtml The bestinservice link seems to be accurate and is much easier to read. Much appreciate that link, saved me some typing! For the record, I posted the Fair Isaac "original" fax. Anybody have any idea what reason code #1 means? "Amount owed on account is too high" What the hell is too high? I have the exact same question.
|
| | Saturday, February 03, 2001 - 10:13 pm Thanks for posting your fax! Saves me some confusion. Some other links show the codes with abbreviated wordings...
|
| | Sunday, February 04, 2001 - 08:31 am If you want to throw NextGen reason codes into the mix, you might want to check out http://168.230.129.57/servlet/SiteDriver/Content/1701/NextGenClassic1pgr.pdf (Adobe Acrobat reader required).
|
| | Sunday, February 04, 2001 - 11:00 am Thanks, I printed it out. And, as expected, I see Code A5 "Amount owed on collection filed."
|
Credit Forum CreditCourt Forum 2003 Credit Suit CreditFactors Order Credit Reports |