fairclok Tracker

On my CR: What should the Current Status say?

fairclok — Wed, 15 May 2013 00:03:26 GMT

Hi all,

As always thanks for everyone's help in this forum. It has been the main reason I have been able to find success in my rebuilding journey, as you can see by my scores in my signature. I will forever be in debt to those who participate in this forum (Guiness, Shogun, etc).

That said, I was just noticed a Current Status detail on one of my closed credit cards. It was closed in 2008. It had many 30, 60, 90 day lates. I paid it in full in 2008 and closed the account.

Should the Current Status still say 90 Days Past Due? The last delinquency was a 60 Day Late prior to paying in Full. Is this having an impact on my score?

Thanks in advance for your help.

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Tue, 07 May 2013 00:22:05 GMT

They were very specific. Only the balance is included. The high balance is not part of the calculation at all. So if you had 2500 balance on revolving with total CL of 5000 on those cards. Your 1000 Amex balance would be added to the 2500 making your total balances 3500, but your CL would still be 5000 since Amex doesn't have a limit.

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Mon, 06 May 2013 22:34:11 GMT

I spoke with a MyFico representative today. They had to do some research and it seems you guys were correct. They mode the Transunion FICO is based on, on MyFico.com does include Amex (Charge Cards) in utilization. It includes the current balance reported, NOT the highest balance ever reported.

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Fri, 03 May 2013 03:20:39 GMT

Thanks for the informative responses. I will call tomorrow and provide an update. That said I did some research on TU98 vs TU04 and TU08. It seems you guys are correct. TU98 (myfico) DOES include charge card (Amex cards) balances in utilization. The other TU scoring models mentioned above that lenders also use DO NOT include charge card (Amex cards) balances in utilization. I will validate with the call center tomorrow and provide an update.

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Fri, 03 May 2013 00:45:22 GMT

Thanks I will try calling MyFico support.

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Fri, 03 May 2013 00:37:36 GMT

It's from MyFico. Just paid to pull it for the month. Equifax MyFico is calculating correctly but transunion MyFico isn't. Should I call the support line?

Re: Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Fri, 03 May 2013 00:30:54 GMT

It's odd. That was my balance last month. Paid it down to $553. But it's reporting the old balance as if it was another account. Regardless. Amex should t be included In util, right? I'm totally confused.

Same Cards Different Utilization on TU and EQ FICO. Confused

fairclok — Thu, 02 May 2013 23:57:26 GMT

Hi all,

First off thanks in advance for the responses that will come in. I owe everything in my rebuilding journey to the MyFico forums (Shogun, Guiness, etc, etc). You can see in my signature, I've enjoyed the benefits of this community and its support network. There really is nothing like it.

That said, I'm a bit confused on something. See below.

Equifax FICO

Balance/Limit

- Discover Card - $221/$12,700

- Amex Charge Card - $551

Utilization Shows at 1% as I would expect. Amex Charge Card should not be in Utilization

Transunion FICO

- Discover Card - $221/$12,700

- Amex Charge Card - $551

- Amex Charge Card - $3,310

I only have 1 Amex card, but 2 are showing up. Same details under each of the cards so I need to figure this out. Not sure why this is happening.

That said, Utilization is showing as 31% (the 3 above accounts/$12.700)

Why is the TU FICO including the Amex Charge Cards in Utilization? Is this an error?

I have no other revolving or charge card accounts on my report.

Thanks

Re: Comparing FAKOs to FICOs

fairclok — Wed, 24 Apr 2013 19:07:49 GMT

EQ FICO - 707

EQ FAKO - 635

TU FICO - 713

TU FAKO - 725

FICO is the only way!

Re: Amex Authorized User and Backdating question

fairclok — Mon, 08 Apr 2013 22:47:49 GMT

The backdating has already happened. I have the card in my wallet and it says 1996 on it. The orignal card had 2013, but after my call they backdated it to 1996. I'm holding off on new credit, as I am about begin shopping for mortgages.

My question is, should I be benefiting from brothers Amex Account History? As of right now, I'm only benefiting from when the card was issued, Jan 2013.

I'm an AU on another card of his and the history goes back 15 years on my credit report.

Amex Authorized User and Backdating question

fairclok — Mon, 08 Apr 2013 22:29:22 GMT

Hi all,

I recently became an Authorized User on my brothers Amex Plat in Jan 2013 which he has had since 1994. No bad marks on his account

I called Amex and without hesitation they backdated my card to 1996 from when I was an Amex Card holder.

That said, should the card be reporting as of Jan 2013? or am I supposed to get my brothers account history when it shows on my credit report.

Currently my report is only showing/reporting from Jan '13 through today.

Thanks in advance for your replies.

Re: Satisfied Judgement. When does it fall off?

fairclok — Wed, 03 Apr 2013 20:27:58 GMT

Thanks for the responses.

1.) I will calculate from the date the court filed the judgement.

2.) RobertEG. What do you mean by "Just hope the CRAs exclude prior to the full 7 years. They often will do so in order to avoid going into violation of the max period."

Satisfied Judgement. When does it fall off?

fairclok — Wed, 03 Apr 2013 19:20:40 GMT

HI all,

I have a satified judgement from 2006 in New Jersey.

Date Filed - June 2006

Date Satisfied - November 2006

1.) Which of the above dates do I calculate the 7 years for it to fall off my CR from?

2.) Regardless of which date above, will it fall off automatically? or do I need to dispute it when it is supposed to fall off?

I'm also educating myself on vacating a judgement in NJ.

Thanks in advance for your help.

Re: Lexington Law-Need success stories

fairclok — Fri, 22 Mar 2013 00:26:49 GMT

I'm like many people on here. I used their services until I was able to educate myself enough to create a plan of my own. They served their purpose for 3 months. They successfully had a number of items removed. Once I got a handle on how to do it myself through these forums, I cancelled and now do it all myself.

Re: School Loan Balance Higher Than Original Balance - Hurting Score?

fairclok — Thu, 07 Mar 2013 00:16:25 GMT

thanks for the response.

my next question would be.

If this is my only debt and have no other baddies on my credit report. If I were to pay $10k of the $15 loan tomorrow, I should see a score increase of some sort they next time my loan reports.....correct?

Re: Virtuoso Sourcing Verbal PFD

fairclok — Wed, 06 Mar 2013 23:46:26 GMT

I recently did a verbal PFD with a differenct collection agency because they wouldn't put anything in writing before. They promised to delete and send a letter confirming they would delete the account. They lived up to their word and I received the letter. Still waiting on the Credit Bs to remove the account.

Re: School Loan Balance Higher Than Original Balance - Hurting Score?

fairclok — Wed, 06 Mar 2013 23:40:39 GMT

Thanks Shogun. And thanks for your help with my rebuilding effort. I read all of your responses to other's posts, which I use to educate myself on my situation.

School Loan Balance Higher Than Original Balance - Hurting Score?

fairclok — Wed, 06 Mar 2013 23:36:14 GMT

Hi all,

I've been rebuilding my credit for the past 6 months with much success thanks to these forums.

I have a school loan that was in forbearance, but no longer.

Current Balance: $15k

Original Balance: $13.5k

My reports are showing both numbers. Are my FICO scores being severely impacted by this? I was told no, but wanted to be sure by asking the forum. Is this the same as having the same balances on a Credit Card and having a +100% utilization rate?

Thanks in advance?

Re: orchid bank reporting

fairclok — Sat, 16 Feb 2013 01:24:01 GMT

Not sure what my due date is. I focus on when the statement is cut. Whatever information is on your statement when it is cut is what gets reported to the credit reporting agencies. For example. I just did an online payment for the balance on my card today. Should post by the 19th. Statement gets cut on 20th. It will report to credit agencies on the 20th or 21st showing I have no balance. Utilization stays low and I'm paid on time. If you do carry a balance make sure you pay what is due so you don't get a 30day late

Re: orchid bank reporting

fairclok — Sat, 16 Feb 2013 00:14:56 GMT

they report on either the 20th or 21st of every month. depending on what day the statement is actually cut that month. i usually have it paid by the 19th, then wait to use it until i see it post on my cr