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[goodguy]

I went to an expensive school and took many student loans. I have kept them all current over the past 11 years, but I can't even get a Visa because my credit report shows the ORIGINAL BALANCE of the loan as 'revolving credit'.

Example - a loan taken for $16,000.00 in 1995 that has been paid timely shows as a $16,000.00 credit account.

Is there any way to get these balances updated so I don't look like I'm extended 139% past my means? Basicly what I want to do is have the ammount owed displayed as a loan, not have the original ammount displayed as credit that I can go out and use.

I have gotten an auto loan (paid in full, timely over 4 years) from a small credit union but I need to build some credit.

Any help would be appreciated!

[Joe Chromy, Jr]

Hi everyone... I've been MIA for a while... Don't know how long I will be back

:|>I went to an expensive school and took many student loans. I have kept
:|>them all current over the past 11 years, but I can't even get a Visa
:|>because my credit report shows the ORIGINAL BALANCE of the loan as
:|>'revolving credit'.

Original Balance is required under the Metro II reporting format. You may want to call your creditor to see if your student loan type can be changed
from a revolving credit to installment loan. I believe that it should be listed as an installment loan trade line.

:|>Example - a loan taken for $16,000.00 in 1995 that has been paid
:|>timely shows as a $16,000.00 credit account.
:|>
:|>Is there any way to get these balances updated so I don't look like
:|>I'm extended 139% past my means? Basicly what I want to do is have
:|>the ammount owed displayed as a loan, not have the original ammount
:|>displayed as credit that I can go out and use.

Creditors are required to report the current date and the date of last payment. Also, they are required to report your payment history for the most
recent 24 months... All should appear on your credit file by the credit reporting agency.

:|>I have gotten an auto loan (paid in full, timely over 4 years) from a
:|>small credit union but I need to build some credit.
:|>
:|>Any help would be appreciated!

What is your current FICO Score? What is the rating given to each student loan? What are the reasons for being turned down for credit? There are
several reasons why a credit grantor can deny you credit... having the reason in hand - you can get a complete copy of your credit report for free.

You can reply via private email for the discussion of more personal information.

Bravejoe

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