My Fico went down

[Anonymous]

I payed 700 to a creditcard and that is all that changed on my report it went down 17 points when it updated a lower bal why is that

[haulingthescoreup]

Was this a FICO EQ or TU report?

What were the negatives listed (in order) on the earlier report, and what are they now?

Did you pay the balance down, or completely off?

[Anonymous]

I only have one card with a bal it was 2200 and went to 1500 and then i had a walmart cc that the limit went from 650 to 1500 the only negitiv i have is a payed medical collection that is 4 years old witch im trying to get rid of but that has been on there 4 years so that cant change the score as soon as it went to collections i payed it  thanks ohh fico equifax

Message Edited by XQ28Libra on 11-22-2009 12:06 PM

[llecs]

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XQ28Libra wrote:
I only have one card with a bal it was 2200 and went to 1500 and then i had a walmart cc that the limit went from 650 to 1500 the only negitiv i have is a payed medical collection that is 4 years old witch im trying to get rid of but that has been on there 4 years so that cant change the score as soon as it went to collections i payed it  thanks ohh fico equifax

Message Edited by XQ28Libra on 11-22-2009 12:06 PM

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Looking at pages 2 and 3 of both of your FICO reports (old and new), did anything change per the positive and negative factors?

Did anything about that paid collection change this month? Date changes?

Did anything else change on your EQ FICO report?

Are the $1500 balance CC and the Walmart ($1500 CL) CC the only two CCs you have?

[Anonymous]

No i have these cards and nothing changed on the collection. Nothing change with AAOA except it went up one month to 4 years 3 months and credit history is 16 years

8000 HP Card

10000 Discover 10.99F I think

3000 Sams Club

8000 Sams Club Discover 18.74V

2000 Khols

15000 Capital one 6.9 Fixed Doesent Report Limit

4x AMEX with 10000 Each 11.99-16.99 V

AMEX  12000 17.99

1 Amex Plat charg 20000 a month looking to get Black card

10000 TD BANK 4 Months old but has been on there 4 months

5000 TD BANK 4 Months old but has been there 5 months

4000 TD BANK Over Draft

5000 HP 

7000 Dell 28.99APR

2000 JCP 

1500 Walmart

5000 Walmart Discover 15.99

7000 HSBC 1500BAL Sister used it to pay her cards off and has been paying 700 a month but usualy I alway PIF 9.99V RJ to14.99V

2000 HSBC 9.99V RJ to 16.99V

2000 HSBC 9.99V RJ to 16.99V

1000 HSBC 9.99V RJ to 16.99V

15000 Juniper 7.99 Fixed

8000 Juniper 7.99 Fixed

15000 Juniper Dont Know APR

14000 Norstrums Limit Doesent Report 10.99V

5000 Citi New card 4 montsh old 14.99V drop .25 Apr a month up to 2 point Apr reduction

2000 Citi 14.99V RJ to 19.99V

7000 800 Matteres

49000 Citi Limit Doesent Report 9.24V RJ to 16.99V like this card i had got a 1.99F for the life of the BT and no fee 3 years ago borrowed the whole amount when HSBC Savings was paying 4.5 and payed it off when the intrest went down with the savings account

19000 Citi Limit Doesent Report 7.99V

25000 Citi 10.49V RJ to 16.99V

7500 Citi 14.99V RJ to 19.99V

22750 ATT CITI 9.24V like this card i had got a 1.99F for the life of the BT and no fee 3 years ago borrowed the whole amount when HSBC Savings was paying 4.5 and payed it off when the intrest went down with the savings account

15000 Boa 14.99V

10000 Boa 14.99V

25000 Boa 9.99 Fexd

1000 Boa 19.99

17000 Boa LOC unsecured 32.99

12700 Bloomingdales

11000 Macys

8000 Macys Visa 19.99V

5000 Macys Funiture

10000 Chase Saphire 12.49V 5Month old

15000 Chase Wamu 9.99F RJ to 16.99V

24000 Chase 16.99V

14000 Chase Limit Doesent Report 17.99V

2000 Chase 19.99V

8000 Best Buy Master Card 9.99V

14000 Best Buy Store

5000 Home Depot Store

7000 Kay

10000 PNC 11.99V 4 Months old but has been on there 4 months

12000 PNC 11.99V 4 Months old but has been on there 4 months

2000 Natulis Card

4000 Neiman Marcus

8000 Town North Bank

6000 Bill ME Later

5000 New Egg

7800 Target Visa

140000 Mortage throught Sun Bank I think  4.24 Fixed is 8 months old was 6.25 Country Wide before I only have this because its supose to rais my score just borroed the money and put it in a bank

300000 Mortgage LOC forget apr but i got for mix of credit

40000 4.99F PNC Auto loan thas has been on my credit report 12Months pay 3 payments a month only got for mix of credit

25000 3.99F PNC Auto loan that has been on my credit 4 months pay 3 payments a month but that has been there 4 months so i dont think that has anything to do with it only got for mix of credit

I had to send in fincials to BOA,Chase and Amex to get the cards but the otheres i got without sending in bank statments plus i let my mom charg about 15000 a moth on my cc and she PIF that is how i was able to gro so fast

Im a card addict i have a busness card holder that is full of them

These are all open accounts i have others that i closed 2 years ago i started 5 years ago with nothing and and a score of 500 and this is ware i am today i went all the way up to voer 800 fico but am 750is now and with the drop i pissed did fico change somthing with scoring as to how mutch credit you have that is the only thing i think that would have done it. I dont want to change anything the only people to rj me was citi from 9.24 to 16.99 with the if you charge 500 we will waive 10 percent of intrest with the new law when wll they not be able to RJ

Message Edited by XQ28Libra on 11-23-2009 08:06 PM

[llecs]

*regains composure*

Wow. So, to clarify, at least one carried a balance when the new FICO report was pulled and all others reported $0? Util certainly didn't change for you, that's for sure.

[llecs]

Also meant to ask....do you see any red flags on this new FICO report that wasn't there on the previous FICO report? Yes, you certainly have a flag for the # of accounts, but aside from that, any others? (They would be visible on the Accounts page and on the Credit-At-a-Glance page).

BTW....I spend 1 hour once a week updating DW's and my accounts (25 or so). How do you juggle so many? *he asks in awe*

Message Edited by llecs on 11-23-2009 11:21 PM

[Anonymous]

No nothing change but walmart limit going up and bal going down on hsbc I use 3 cards a month and then rotate to the next page and use 3 more and non of the banks will let me consilodate them and nothing is red so what should i do close some of the accounts i dont need them all but 4 or 5 years ago when credit was easy to get i was listining to my mother who has way more card and she said that you need alot of cards so i have them and i log into them at least once a week i became very addicted to managing my credit but i think i went a little over bord .

Thanks

[haulingthescoreup]

My advice: If it ain't broke, don't fix it.

What you might want to do is pull either your EQ or TU FICO from www.myfico.com/12. This site will list the top 4 negatives on that report. On the regular site, they show fewer and fewer negatives as your scores rise over certain points. The slant-12 report won't tell you your positives, and sometimes you even get a brief message about your credit being in dire shape (ignore this, it should go away.) But the four negatives listed are the top four negatives seen by your lenders, and they are the top four negative factors influencing your scores.

If there is anything in that list of negatives that you are interested in correcting, and you do so, that should help your scores.

As to closing accounts, I wouldn't do this to make the FICO gods happy. But if it's making you a little crazy staying on top of everything, that's a perfectly valid reason to unload a few, or a few dozen.

Please, please, please read fused's "Closing Credit Cards" (linked in my siggy below) first!!! Closed cards will stay on your reports for 10 years, so you'll still be staring at them for a long time to come. For other members who have balances on multiple accounts, closing unused accounts can hurt scores by increasing the proportion of revolving accounts with balances. In other words, there are all sorts of little tricks and pitfalls that you want to be aware of before slashing away.

I would first determine my AAoA (average age of accounts), and then possibly target cards that are YOUNGER than that figure. Your AAoA won't change as long as the now-closed accounts continue to show up (ten years after closing), but once they do fall off, your AAoA will increase. That's way on down the road, though,