I bit the bullet

[Anonymous]

I bit the bullet and bought a 1 year 3 Bureau subscription. The results of my scores (all FICO-8) are in my sig line (I hope).  Here is what is expected to happen in the next 180 days:

EFX - all 4 derogs age off

TU - 5 of 6 Derogs age off

EXP - all 3 Derogs age off.

When this happens I will have nothingt but paid satis lines (Installment, Car Loan, Mortgage and Credit Card) with 14 years of history but only 18 months of current debt (an auto loan) and a 6 month small limit Cap1 secured card. The car loan will be down to 50% in 6 months and the card is never over 9%. The score projector tells me that if I pay $1500 a month for 2 years and pay off my baddies, my EFX could hit 800, with the others in the low to mid 700's. I take that with a grain of salt.

Question - should I expect to see the same effect if I didn't pay the baddies and instead they simply aged off? FICO seems to have a memory for baddies removed. In the late 1990's I had an erroneous charge off from a retailer put on my credit reports and lost 60 points immediately. After some serious threats by me to sue the s*hit out of them, the retailer removed the TL within a week, but I only got 20 of those points back.

Anyone who knows more than I do about the workings of FICO want to place bets on what my scores will look like after the baddies age off in May and June? That shouldn't eliminate very many people from the betting pool.

[Anonymous]

You threw your money away. It's pretty common knowledge on here to go to creditchecktotal.com and get all three reports and scores on a 9 day trial for $1. Call in and cancel and you can keep signing up for the $1 trial whenever you need it.

[elim]

Congrats on being clean soon!

Your EX and EQ scores will explode when your last baddies fall off (I got 60ish points each). Your TU will still suffer but after your scores improve, you can add some more quality lines to your profile and it will rise also. My TU holds my only negative so we will be in the same boat, lol.

I would just let the baddies age off, keeping the $ to PIF your positive revolving lines while stocking up on cash or travel rewards (whichever works for you). Some have had luck with calling the big 3 and getting them "early excluded".

As far as the myFICO subscription, It is a solid product. I ran both CCT (paid version) and MF side by side for a year and ended up keeping MF (3 years now). It offers much more in the way of scores and keeps me in touch with the forums which has made a huge difference. In no way would I describe it as "throwing money away".

Best of luck on the rebuild... check in often and it will work.

[rmduhon]

CCT is good, but they don't provide mortgage or auto scores, or various other Fico versions, just Fico 08 scores.

[Anonymous]

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@Anonymous wrote:

You threw your money away. It's pretty common knowledge on here to go to creditchecktotal.com and get all three reports and scores on a 9 day trial for $1. Call in and cancel and you can keep signing up for the $1 trial whenever you need it.

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I considered that and I got the trial at cheditchecktotal, but several more experienced members made a convincing argument that I should bite the bullet. I am buying a house in 18 months so the stakes are pretty high so I reasoned that I might as well get the scores from their source. FICO is the more expensive alternative but I reasoned it is probably the more authoratative. I have 18 months to add 100+ points to all 3 scores.

[rmduhon]

I'm using MyFico because I'd like to either refinance my truck or get hubby one. Or both. I quite often suggest CCT to get an idea of scores because it does make more sense (usually) to spend $1 than pay for MyFico at that point.