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Q: Credit Report - Lots of addresses ( Answered 5 out of 5 stars,   1 Comment )
Subject: Credit Report - Lots of addresses
Category: Business and Money > Finance
Asked by: artsyfartsygyrl-ga
List Price: $2.00
Posted: 17 Aug 2005 16:29 PDT
Expires: 16 Sep 2005 16:29 PDT
Question ID: 556970
I have approximately 12 different addresses on my credit report for
the last 7 years. Does having a lot of addresses bring down your
credit score or adversely affect your credit rating?
Subject: Re: Credit Report - Lots of addresses
Answered By: wengland-ga on 17 Aug 2005 17:41 PDT
Rated:5 out of 5 stars
There are five factors that impact your credit score (FICO score),
which is now used nearly exclusively for credit decisions by the
majority of lenders.

1. Your payment history: what is your track record? (approximately 35%
of your score)
2. Amounts that you owe: how much is too much? (30%)
3. Length of your credit history: how established is it? (15%)
4. New credit: are you taking on more debt? (10%)
5. Types of credit in use: is it a "healthy" mix? (10%)

Your address history is not considred in building your FICO or credit score.

Where you live is expressly excluded from your FICO score.

However, if you had someone manually reviewing your credit report,
they may find 12 addresses in 7 years questionable.  I would be
prepared to explain the situation to them.  I doubt this will occur
except in situations where the credit decision is not already clear. 
Generally, smaller businesses that handle their own financing would be
the only situation that would manually review your credit.

If you require clarification, please ask before rating this question.


Factors That Affect Your Score, Wells Fargo Credit Center

What is Not In Your Score,

Search Strategy:

factors that affect your credit score
artsyfartsygyrl-ga rated this answer:5 out of 5 stars and gave an additional tip of: $2.00
Thank you for your thorough response!

Subject: Re: Credit Report - Lots of addresses
From: monic_b-ga on 17 Aug 2005 19:08 PDT
Very VEry VERy VERY Good Info

Keep it UP !

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