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Hi,
Just got my TransUnion credit report and noticed that my "amount of debt" is rated "very good", not great even though I'm not carrying any balances.
I borrowed a wrench from my neighbor last night to break-free crankshaft bolt on my car, do you guys think that FICO system is holding that against me?? Oh, and I also borrowed my brother's car last night. Will that too hurt my credit score?
Anybody got any leads?
credit score
Hi Eran,
I don't think these borrowings are going to get listed on your credit report. Only if you fail to pay them any money they may owe, and if they hand this over to a collection agency can these get listed on your credit report which in turn can hurt your credit score.
Thanks,
Aaron
your amount of debt =0 is good. the ratio between your balances and your available credit is important to your school.
credit score
Eran, I think you can try getting more details on credit report and credit score. You need to know how to read your report and what can get listed on your credit report.
For details refer http://www.creditmagic.org/report.html and http://www.creditmagic.org/knowledgebank/credit-scoring.html .
Thanks,
Aaron