I remember reading a neat article it went thru and explained how once your a lower score how factors will keep you there much longer to increase points than someone else who is 780 then went downt o 720..they can jump back up much easier.
Basically if you have bad credit you will always be listed in 600's for years.
I was mid 500's for bunch of collections years ago. There all paid and gone for over 7 years and not on my reports. I have many new loans cna credit cards for 5 years all are perfect. Not a single bad point on my report yet i am only mid 600's. I make wel over 6 figures and util is low but i cant break 700. I got to 690 for awhile then it went back down becuase i paid off my $50k car loan early. That hurts your score..it all is a racket and really is not fair.
Case in point my friend has always been high 700's. He went upside down in a home and stopped making payments and bought another home. He has not made a house payment on the other home that is not foreclosed on yet for 3yrs. So he has 180day lates all over his credit for that loan but his score is still 720.. If i got a 90 day late on my report now it would be back to 400-500 range.. its crazy.
So i hate credit but i know it is a necessity in america now. If you ever want a good job, auto insurance, mortgage then you better have decent credit or be denied.
