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Frequent Contributor
LoveGoodCredit
Posts: 342
Registered: ‎07-06-2012
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Derogatory removed! But my score TU score dropped 11 points

Anyone know why it would have dropped?  :smileysad:  Does it initally drop after credit activity like that?



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

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Valued Contributor
Mike_B03
Posts: 1,146
Registered: ‎11-30-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

Was it a pretty old accounts? Do you have other accounts, good or bad, and how old are they?

 

From how I understand it, once a bad account gets old enough, it's not really hurting your score anymore and can even help. The bigger the AAoA (Average Age of Accounts), the better...so if you have a bad account that is 6 years old and a good account that is 1 year old, your AAoA is 3.5 years. If the bad account falls off, now your AAoA is only 1 year, which is not good.

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LoveGoodCredit
Posts: 342
Registered: ‎07-06-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

It was less than two years old.

I have 3 collections left

2 of them are almost 6 yrs old

one that is from this year I have been trying to PFD.

 

some other baddies that are all about to fall off, they are over 6 years old.

 

 



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

Take the FICO Fitness Challenge

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Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: Derogatory removed! But my score TU score dropped 11 points

We see this quite a bit while cleaning CRs.  You will have the rollercoaster effect, up and down.  Don't sweat it, the cleaning of your report will allow those scores to rise.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
LoveGoodCredit
Posts: 342
Registered: ‎07-06-2012
0

Re: Derogatory removed! But my score TU score dropped 11 points

I think I am more shocked!  I was hoping to see it go up  :-/  



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

Take the FICO Fitness Challenge

Established Contributor
jamie123
Posts: 927
Registered: ‎03-22-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

Okay...Refresh my memory LoveGoodCredit.

 

How many credit cards do you have and what are their balances/credit lines?

 

What other positive credit do you have?



Starting Score: EQ 658 6/18/12
Current Score: EQ 690 11/17/14 - EX 687 7/21/14 - TU 701 12/8/14
Goal Score: EQ 720+
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LoveGoodCredit
Posts: 342
Registered: ‎07-06-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

These are what I have:

 

One credit card, almost paid off, 60.00 balance of 300 limit. Never late

One loan, it hasnt reported yet though, it is a secured 500.00 loan from my credit union.  Havnt made a payment just yet. 

One car payment, never late.  going on 7 months.

I have two other accounts that have been paid on time, small loans.

 

Then I have baddies

3 collections left, 2 are almost 6 years.  Those total 700.00 so I am going to need to wait till I have the money and see if I can get them to do something after the first.

1 of the three  is from the beginning of the year  (CSD COLLECTIONS) but they are ignoring all my PFD letters.

The forclosure that is getting ready to fall off next year.

One charge off that falls off next year, it just got changed to a 0.00 balance a few days ago.

Two house loans that are paid off but one of them has a 60.00 late

One student loan that falls off in two years.  It has a 0.00 balance.  I can refi and get that removed but currently I am making payments to a bank.  Going to refi after the year.

 

The Child support that is currently up to the attorney generals office and beauro of consumer protection which they are not reporting any payments but reporting 120 days late on EQ only, is still in dispute.  Everytime I dispute my credit drops 30 points.  I am trying to get them to report my payments and remove the negative remark because it is not late.



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

Take the FICO Fitness Challenge

Established Contributor
jamie123
Posts: 927
Registered: ‎03-22-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

Are you still thinking about getting a mortgage in the near future?



Starting Score: EQ 658 6/18/12
Current Score: EQ 690 11/17/14 - EX 687 7/21/14 - TU 701 12/8/14
Goal Score: EQ 720+
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LoveGoodCredit
Posts: 342
Registered: ‎07-06-2012
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Re: Derogatory removed! But my score TU score dropped 11 points

Yup, that is why I am doing all this.  The lender pulled all my scores and my mid turned up to be a 599.  She told me to pay off my CC and that was when it was 97% util.  I payed it down to 60.00 but it hasnt updated yet. 



Starting Score:
August Equifax 558 TU 600 EX 570
Current Score: Equifax FICO 642 TU FICO662 EX 651 (credit.com) 06/21/2013
Goal Score: 720 All Across

Take the FICO Fitness Challenge

Established Contributor
jamie123
Posts: 927
Registered: ‎03-22-2012
0

Re: Derogatory removed! But my score TU score dropped 11 points

Well...I was going to suggest that you apply for a Walmart card. You really do need more good credit reporting to help get your scores up.

 

The reason your scores could have dropped is because of that maxxed out credit card. $60 reporting is still way too high. That is 20% of your credit line. You need to keep the reporting balance below 9%. You can do that by paying multiple times per month.

 

What mid-score do you need to have to qualify? What are your current scores?



Starting Score: EQ 658 6/18/12
Current Score: EQ 690 11/17/14 - EX 687 7/21/14 - TU 701 12/8/14
Goal Score: EQ 720+
Take the FICO Fitness Challenge


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