Banks used to be entities that could be respected. In the present financial situation many small ones are being gobbled up by the big ones that got us here. They are doing any thing they can get away with to make bucks. Some of the things they do are illegal but get under the radar till a class action contest brings them to light. The commercials you see for credit reports may have very small print disclaimers saying that you are signing up for a daily, weekly or monthly report that will cost on a regular basis. That is why the bad "rock" band is no longer blaring at is. Check to see if there is a fine print agreement to consistently charge for regular credit reports. I think looking for a small local bank or a credit union is the best move to make at this time. Why use the ones that messed up the economy?

Hi SoftballMom, From your post, I can't tell many of the important things. I realize that this seems like Greek to the common-man, and the analysis is counter-intutive to most folks... Have you CLOSED your revolving accounts, or merely paid them down (closing them eliminates the facility, and makes it appear you are less trustworthy since there are obviously fewer banks willing to lend you funds, or who have perhaps refused to continue lending you funds.) Open, but unused, revolving credit makes it obvious that ou are indeed credit worthy, and responsible with your credit management to boot. RECENTLY opened credit makes it appear you are "reaching" and not so strong. LONG STANDING OPEN credit looks like you are well-established and stable. NEXT; what is your current real-market home value? What loan-to-value are you proposing? NEXT: What is your proposed debt-to-income ratio, after the consolidations? Currently the general target is 38-45% or less of your gross (pre-tax gross) income can be alotted toward the combined total of minimum consumer debt payments, mortgage payments, monthly property taxes & insurance (and condo dues, if applicable.) If you're solid in these aspects, then the loan officer is probably not seeing your numbers accurately. Hope that's helpful. Dave Donhoff Leverage Planner

"It just looks weird for the report to say "too many inquiries," "debt too high," and so on as the reason for our credit rating being lowered when those things have nothing to do with how we handle debt. " Huh? Of course those things matter - on average. That is what credit scores are - the average risk of people who display certain behaviors. People who apply for a lot of credit in a short period of time are bigger risks to lend to on average. People who use a lot of their credit lines are obviously bigger risks than people who only use a little - on average. Sure, you may intend to pay it off every month, but if you suddenly lose your job, the credit companies are a lot safer if you only have a small balance outstanding then if you had a large balance. If you want to manipulate the credit scoring system, it really isn't that hard. Just adopt the patterns of people who they judge to be the lowest risks. If your score is currently good enough to get everything you need, why bother though?

It's easy to imagine a high error rate in a database that collects information about hundreds of millions of people. The files get populated automatically, and the filing of info tidbits with the wrong person (for a variety of reasons) happens daily. Credit grantors checking in for a potential customer transaction know this and most certainly accommodate error correction. Probably nothing to be concerned about. Most people don't have regular borrowing activity, periodic check-ins aren't really necessary. I've never checked mine. I bought a car a few months ago. The dealership was holding my check for the purchase price but ran a credit check before allowing me to drive away with their car on the weekend. The "finance" guy walked away with the signed papers and then came back in a few minutes and said "Thanks again, everything is fine". If they had my job wrong or showed me married to my dog, it didn't matter.