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Member
JeffS
Posts: 15
Registered: ‎12-17-2011
0

MY credit scores have flatlined....??????

Hi,

 I really need a new hobby...lol ! Watching and waiting for my scores to climb is like watching a tree grow or paint to dry! Fico simulator claims in 24 mons. I'll be in the 700's but it's already been roughly 5 month's with one increase of 4 pts. Wow! I really don't understand it. Everythings been paid on time, old collection have long been paid and still won't budge. My cc and installment loan has already reported for the month and nothing. Even the LO said he thought my score would be higher by now. Is Fico sure they didn't mean 24 yrs? Lol. Any thoughts??

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llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: MY credit scores have flatlined....??????

Keep sending GWs to the collection. When is it slated to fall off? I'm not too familiar with the simulator. Maybe it's hedging a bet that they'll delete inside of two years? I dunno.

 

How is the CC util?

 

 

 

 

Frequent Contributor
bridgetkaryn
Posts: 429
Registered: ‎05-07-2008
0

Re: MY credit scores have flatlined....??????

I would keep working on getting those collections removed... that will boost your score... GW's do wonders...

Starting Score: 06/2010- EQ 464
01/2012-EQ 512
April Score: EQ 679 4/12TU- 677 EX- 699 (FAKO)
Current Score: 05/2012-EQ 691 4/12TU- 706 EX- 720(FAKO)
Goal Score: 700 by 05/2012- MADE IT!!!!


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Established Contributor
jimbo831
Posts: 977
Registered: ‎02-08-2012
0

Re: MY credit scores have flatlined....??????

They will clime slowly, but steadily over time.  However, the real jump will be when your last baddie falls off.  Then you get rebucketed and the ceiling is the limit on your scores.  Just keep at those GWs.  Good luck!

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012


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Frequent Contributor
bridgetkaryn
Posts: 429
Registered: ‎05-07-2008
0

Re: MY credit scores have flatlined....??????

@Jimbo- What is the rebucketing and how does it work??

Starting Score: 06/2010- EQ 464
01/2012-EQ 512
April Score: EQ 679 4/12TU- 677 EX- 699 (FAKO)
Current Score: 05/2012-EQ 691 4/12TU- 706 EX- 720(FAKO)
Goal Score: 700 by 05/2012- MADE IT!!!!


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Established Contributor
jimbo831
Posts: 977
Registered: ‎02-08-2012
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Re: MY credit scores have flatlined....??????


bridgetkaryn wrote:

@Jimbo- What is the rebucketing and how does it work??


FICO doesn't use one scoring formula for everyone.  They have tons of different "buckets" that they group people in to.  Some buckets might be for people with no revolvers, buckets for people with/without mortgages, etc, etc.  This allows them to score you relative to others with similar credit situations.  One bucket they use is for people with major derogatories on their report (charge offs, forclosures, etc).  If you have a charge off, but otherwise stellar credit history, you will have one of the best scores in your bucket.  However, you will never compete with superprime scores until you get rebucketed with other superprime type people.

 

This is why people see the biggest score changes when major changes happen to their credit file.  If you dump your last charge off, your score skyrockets as you go into the clean bucket.  If you get a new charge off, you go out of the clean bucket and get grouped with others who have derogs, seeing a huge drop in score.  If you add your first credit card, your score will go way up, despite having a new INQ and a new account.  This is because you get put in a bucket with people who have revolvers.  Others may know more details than me, but that is the jist of it.

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012


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Frequent Contributor
bridgetkaryn
Posts: 429
Registered: ‎05-07-2008
0

Re: MY credit scores have flatlined....??????

Oh interesting!!

 

Good to know and extra motivation to get the CO off my CR's!

Starting Score: 06/2010- EQ 464
01/2012-EQ 512
April Score: EQ 679 4/12TU- 677 EX- 699 (FAKO)
Current Score: 05/2012-EQ 691 4/12TU- 706 EX- 720(FAKO)
Goal Score: 700 by 05/2012- MADE IT!!!!


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Frequent Contributor
mtrsprt
Posts: 335
Registered: ‎07-27-2011
0

Re: MY credit scores have flatlined....??????

5 months is short, and not any milestone.   I bet you get another 5-8 point jump at the true 6 month mark.  After a solid year, possibly another 8-13 points, and so on.


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 748 EQ, 766 EX on 11/13/2014
Goal Score: 720-740 Across the board


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Regular Contributor
honky
Posts: 160
Registered: ‎01-28-2012
0

Re: MY credit scores have flatlined....??????

I did not know how the buckets work...this has me very excited for may when my last THREE baddies fall off! thanks for the post and knowledgeable replies
Starting Score: 580 2/03/12
Current Score: 810 EQ // 829 TU(Walmart)
Goal Score: Achieved!

Wallet: Citi Forward(13.5k), Ink plus(18k), CSP(13.5k), Freedom(6k), BoA123(13k), Alliant CU(5k), Walmart(2k), Kohls(1.4k), QuickSIlver(7.5k) Amex Simplycash Business(46.5k)
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: MY credit scores have flatlined....??????

Remember remember remember...

 

FICO is designed to show the probability of defaulting on loans/obligation in the next 2 years. Thats the whole point.. it is used as a predictor.. often times, it is mistaken that the higher your score, the higher the probability you will pay on time, but the truth is they are only looking for percentage of people who will default..

 

So you really need to work of a continually moving sliding 2 years scale.. the further your baddies move from 2 years at present, the better the score.. which is why nothing much changes on your reports, you see small incremental up ticks..

 

Payments and positives are essentially a wash. You are expected, as a consumer, to make payments..

 

Once you learn your sweet spot, you can kind of massage your bucket. I stopped goodwilling away my last three collections, because they are 5 years old .. if I got rid of them, as crazy as ths sounds, my FICO may go down.. because I will be put into the bucket with all the Fico High Achievers, and I would pale in comparison with no installment loans and no mortgages.. but in  my current bucket, with a high of 722, I look like Mother Teresa :smileyhappy: -- once I get my mortgage, I am going to resume goodwilling those collections..

 

I may have near topped out in my bucket. I still have a public record, and 3 collections showing..

 

-scott

 

 

 

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX

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