Transunion is now suggesting I get a mortgage…

Sep 182010
 

I’ve been working on credit building for a year or so. I lurk the boards pretty frequently. However my problems are mostly due to my astronomical debt, rather than actual baddies.

 

I was part of the class action for TUs True Credit, so I have access to my report there until November for free (I plan on moving to SW after that, but that belongs in another post)

 

Today I went in to see how everything’s going, make sure everyone is reporting correctly (I’m in a DMP and my suggestion to those that plan on using one is keeping a close eye on every account, what creditors are reporting, balances, etc) In the explanation section, TU is helpfully suggesting that: There are not enough mortgage accounts on your credit report. [TransUnion] A healthy balance of credit and loan accounts is key to achieving a high credit score. It is important to build a record of responsible credit use over time with different types of accounts. Consider opening a new account to strengthen your credit report.

 

Very cute given the fact that I am TRYING to get a mortgage next year…

Related Blogs

  • Related Blogs on Transunion is now suggesting I get a mortgage…

Question about verification

Jul 262010
 

I sent a PFD request to a CA, because the CA placed a collection on my CR.  The CA responded in writing as if it were a validation request.  The writing contained the OC, a file number, amount and that it was applied by the health insurance carrier as a deductible (doesn’t sound right, but that part seems irrelevant).  The letter concludes that a copy of the explanation of benefits from the OC was requested and when it is received, the CA will forward it to me.

 

Since then I contacted the CA with regard to the PFD request and he seems to be dragging his feet.  Although he won’t conclusively refuse to sign the PFD, I do not expect him to at this point.

 

My question relates to the verification request.  Since the CA took it as a validation request originally, is he still required to provide validation within a specific period of time (30 days IIRC)?  Does the original letter contain the requisite information?  And, If not, can I have this removed from my CR if he fails to validate? 

 

I received this letter on July 13.

 

Any input is appreciated.  Thanks in advance.

Score watch increase

Mar 102010
 

Just got notification my score raised 7 points to 661. Wish it told me exactly why it went up. this is the explanation it gives me:

 

 

 

 

Your FICO® score has gone up to 661 on March 10, 2010.  Interest rate alert: Your new score of 661 may qualify you for an interest rate of 5.207%.
Rate as of March 10, 2010 for a 30 year mortgage. See interest rates for all FICO® scores.
Your FICO score may have gone up because the following 4 factors are not hurting your FICO score as much as before:

  • You have a public record or collection in addition to a serious delinquency on your credit report.
  • You have multiple accounts showing missed payments or derogatory descriptions.
  • You have a short credit history.
  • You have a consumer finance account on your credit report.