@CreditDrama85 wrote:
as far as the score dropping from 700 to 600, it seems that the score will take a harder hit if there have been no sign of late payments in the past, and less of a hit if there have been some late payments..... and i have never understood this.....
This might be a result of bucket assignments. One of the triggers for score buckets is whether or not you have serious (60 days+) lates and other derogs. So if you are in that otherwise pure history bucket, and you suddenly get some lates, you're going to get hit harder than someone who has had a history of lates and is in a bucket with others with spotty payment histories. Those in the first bucket have higher potential scores than those in the second bucket, and they get hit harder, because this is not typical behavior for their credit peer group.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007