Continue to enter your reason codes, one at a time, in the search field in order to generate a list of printable explanations below.
13: Balances on delinquent or derogatory accounts are too high
The total balance is high on your accounts with at least 30 days late payments and/or on which a lender has reported a derogatory status. Late payments are a proven indicator of risk. When credit line balances approach credit limits, risk is further increased because you don’t have much credit available should it be needed, creating a greater chance of becoming overextended.
What you can do:
Paying bills on time every month is important to maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time. Whenever possible, pay down balances on your accounts. Over time these actions will have a positive impact on your score.
A HIGHER LEVEL OF CONFIDENCE
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