My Debt Blog

I decided to take a peak at my credit reports, and score for the fun of it. First off my credit score didn’t really change much, it’s at 700 as of today, although that doesn’t really matter much. What I was looking for was what was in my actual credit report.

Mortgages shows I have two which I do. According to the area that I could improve my score if I got more mortgages that would help. Not sure how that makes sense but I guess that is what the models suggest.

Revolving accounts (credit cards) I have 18 in total. There are 10 of them that are closed, or should be closed because they are not used or their history really has no actual value. I don’t want to close everything all at once because I think that might look bad. Some interesting stuff I found was I have an Old Navy store card I don’t remember opening or using from years ago. It has no balance but did have a high balance of $39 at one point. The other interesting one was a Sears card with a $7500 limit opened in 1996. I’m not sure how a 14 year old kid could open a credit card like that with a line that large. There’s only four cards with balances which I fully disclose their balances and limit every month.

Installment accounts there are 12 of these. Now 8 of these are either closed or need to be reported closed by all three bureaus. Two of those are closed car loans, the remaining are student loans that were consolidated/transferred but not properly reported as closed. The remaining 4 are my student loans and for some reason my gas company reports to TransUnion that I pay my gas bill. I have never seen anything like that before on a credit report.

Every account is current and there are no 30/60/90 days late. There are no other accounts or collections, nothing flagging a negative account.

Inquiries there are still a ton of them from when I shopped around for mortgages at the time I bought my house. The latest was from my bank in April when I opened up my emergency fund account to hide 1k cash from myself.

I need to draft some letters to contact the bureaus to have them update the status on some of these accounts. One reports something closed and the others think it’s open. There is stuff that is open on all three but I neither use nor need, so I will try to close those accounts myself. It takes a month or few to get these things resolved so I will revisit my credit report at a later time to make sure everything is cleaned up.

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