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Old negative removed and lost 35 points FREAKING OUT

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jordanmedical
Established Contributor

Old negative removed and lost 35 points FREAKING OUT

Score Watch® alert
April 26, 2013

View details of other recent alerts:

Alert: Your FICO® score has dropped
Score Watch alert/Changes to your FICO® Score

Your FICO® score decreased to 623 on April 26, 2013.
Interest rate alert: Your new score of 623 may qualify you for an interest rate of 4.662%.
Rate as of April 25, 2013 for a 30 year mortgage. See interest rates for all FICO® scores.
This score decrease may be caused by these 3 new reasons:

You opened a new credit account relatively recently.
You have a short credit history.
You’ve recently missed a payment or the date of your most recent missed payment is unknown.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 1 of 6
5 REPLIES 5
Mondavi
Regular Contributor

Re: Old negative removed and lost 35 points FREAKING OUT

What was your AAoA and oldest account before it was removed vs after it was removed your AAoA and oldest account now?

 

Reason I ask is I had some problems with some of my positive closed accounts being removed from EQ way before 10 years. My AAoA went from 9 years down to 5years and oldest account went from 15 years down to I think around 10 years. I lost 30 points because of this.  I eventually got them all put back on and score went back up 31 points.

 

I am guessing that is what might have happened. Was it a C/O or just late payments from the account removed?

Message 2 of 6
jordanmedical
Established Contributor

Re: Old negative removed and lost 35 points FREAKING OUT

EQ deleted my old chase account 2 years early too. Eq is the worst.

The FP acct was an acct that was opened in 2007 and it was a settled charge off. My AAoA before was 3 years because I have a lot of new accts due to rebuilding and consolidating my loans.

I've worked so hard rebuilding my credit and this devastating. I'm worried what it may do to my EX and TU scores. I pray they don't want to do a new credit pull before final approval or closing.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 3 of 6
tooleman694
Valued Contributor

Re: Old negative removed and lost 35 points FREAKING OUT

When my BK fell off I lost 10 points. Still have not recovered those 10 points.

Message 4 of 6
jordanmedical
Established Contributor

Re: Old negative removed and lost 35 points FREAKING OUT

That is so strange, a bankruptcy is the ultimate negative.

I have recovered pulled my final scores to get my final approval today and EQ is now 659. Mostly from removing dispute comments through RR.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Message 5 of 6
foofighter74
Established Contributor

Re: Old negative removed and lost 35 points FREAKING OUT

When a bankruptcy falls off...you get rebucketed and your file is then compared with everyone else who does not have a bankruptcy on their reports.  In other words, among others with an old bankruptcy on their file, you may compare favorably.  But to those without a bankruptcy, your payment history, debt level, utilization, credit mix, AAoA, etc may not stack up as well. 

Message 6 of 6
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