Why is my credit usage inaccurate on my credit score?

When I check my credit score it says my credit usage is far higher than my actual account records indicate. I have recently taken out a car loan, but wasn't under the impression that counted against my credit utilization as it is an installment loan.


1 person found this helpful

That data comes directly from the credit agency, in this case Equifax.

If you don't already use Credit Karma, I suggest you sign up there.  You'll be able to get an updated credit score as often as once per week, and you'll be able to see the full credit reports from TransUnion and from Equifax.  The full credit reports show you exactly what and when each balance was reported and the actual category that each debt belongs in.

Was this answer helpful? Yes No
Default user avatars original
1 additional answer

No answers have been posted

More Actions

People come to Mint for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach: