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Key factors affected my scores?

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westo12
Established Contributor

Re: Key factors affected my scores?

AH gotcha.  Thanks for sharing all of that detailed info.  Going to read your link now!

Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 11 of 16
Anonymous
Not applicable

Re: Key factors affected my scores?

Thanks for the great information. So if I paid these these two accounts off that reference 'Number of accounts with delinquency', would I get any kind of boost to my scores?

Message 12 of 16
llecs
Moderator Emeritus

Re: Key factors affected my scores?

If I had to guess, the gains would be very significant.

Message 13 of 16
Anonymous
Not applicable

Re: Key factors affected my scores?

Thanks again. I just assume that from reading around these boards, paying  off a CO would not do anything for the scores?

Message 14 of 16
llecs
Moderator Emeritus

Re: Key factors affected my scores?

Paying off a CO like a loan, utility, phone, etc. could very well have zero impact on your FICO. There's a slight chance for a decrease depending on when the TL last updated.

 

Paying off a CC CO like a CC, LOC, or HELOC can improve your FICO a great deal if the CC still is being factored into util. So, paying a maxed out CC can greatly improve util and remove an account from reporting over the limit. DW was over 300% util on a CapOne CC. After multiple PFD attempts, CapOne sold the debt and they updated to $0. Insta-score increase by over 30.

Message 15 of 16
Anonymous
Not applicable

Re: Key factors affected my scores?

I see, well look's like the two CO's I have are not affecting my util. at this time. So paying off other items first will be my goal.

 

Thanks for your help

Message 16 of 16
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