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Lack of recent bank revolving information

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Roch
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Subject: Lack of recent bank revolving information
 
Posted on Fri Sep 17, 2010 4:17 am  

Hello,

During the course of home shopping a bank pulled my three credit scores for a pre-approval. My scores were not as high as I prefer, but I understand why they weren't.

I have three credit cards which I lightly use every month, and pay in full. Both TransUnion and Experian cite a "Lack of recent bank revolving information" as one of the reasons those two scores weren't higher.

Does anyone have any thoughts?

Thanks
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: lack of recent bank revolving information
 
Posted on Fri Sep 17, 2010 8:30 am  

Hi Roch,

Actually you need to use your cards to make purchases from time to time and then make on-time payments on it. Also, maintain low balance on your credit cards. Some banks do penalize the consumer for zero balances on your revolving accounts.

Thanks,

Aaron
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Roxette
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Subject: lack of recent bank revolving information
 
Posted on Fri Sep 17, 2010 10:30 am  

I think you can get a co-signer to get a home loan. You should also try to use your existing credit cards to make small purchases and then make on-time payments on these cards.

Thanks.

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