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Established Member
preemiemama
Posts: 10
Registered: ‎09-16-2012

No change yet. Hate the waiting game...

I'm still waiting on my latest rounds of disputes to come back. In the mean time, I managed to pay off our television. It's supposed to be reported out as paid within 30-45 days. Yesterday I got a score watch alert and when I checked it, I freaked out. My score plummeted to 477. The problem was my one and only credit card, cap 1 with a max credit line of $ 300.00 showed a balance of $ 269.00. I have never missed a payment but it showed high utilization and I think that is what drained my score. So I went ahead today and paid the balance in full. I can only hope at some point here those two positive things help raise my FICO score.

 

We are really trying to buy a home in spring/summer but at this rate with this score I don't see that happening. Seems like one step forward and 3 back right now. I hope those things help and I can only hope the latest round of disputes come back in my favor. Just hard to wait it out! Thanks for listening. I just don't know what else to do right now.

Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011

Re: No change yet. Hate the waiting game...


preemiemama wrote:

I'm still waiting on my latest rounds of disputes to come back. In the mean time, I managed to pay off our television. It's supposed to be reported out as paid within 30-45 days. Yesterday I got a score watch alert and when I checked it, I freaked out. My score plummeted to 477. The problem was my one and only credit card, cap 1 with a max credit line of $ 300.00 showed a balance of $ 269.00. I have never missed a payment but it showed high utilization and I think that is what drained my score. So I went ahead today and paid the balance in full. I can only hope at some point here those two positive things help raise my FICO score.

 

We are really trying to buy a home in spring/summer but at this rate with this score I don't see that happening. Seems like one step forward and 3 back right now. I hope those things help and I can only hope the latest round of disputes come back in my favor. Just hard to wait it out! Thanks for listening. I just don't know what else to do right now.


So what was your score before the drop?  You used the term "plummeted" so that means that your score was much much higher than the 477.  With Cap1 being your only CC and with only a 300 CL it seems odd that even with high utilization that your score would plummet.  Go down yes, but plummet I'm not sure of.  I guess I'm wondering if its a combination between the high utilization and something else.

 

What disputes are you waiting on now?

 

As for the reporting of the $269 balance, you need to find out when your statement cut off date is and pay by, but preferrably before that date.  It is a shock to see your score tank but once your utilization hits back to zero you should be at least back to where you were.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Established Member
preemiemama
Posts: 10
Registered: ‎09-16-2012

Re: No change yet. Hate the waiting game...

Hi. Well my score was already low at 496. It dropped to the lower number. I checked the score watch and it was the cap 1 showing the high utilization. The bill was not due until October 21 but I paid it in full today. The latest round of disputes are all collection accounts. The first round TU and Experian deleted most of them but Equifax did not. So I re disputed them and enclosed a copy of where TU deleted alot when they could not be verified. I am also in the process of rehabbing my student loans to get them out of default status and sent letters to the Dept of Education.

 

All I can do right now is wait it out and see how things go and work on raising that score so we can buy a house. I don't know if enclosing the copy where TU deleted alot of stuff will help or not but I figured it was worth a shot at this point.

Moderator
Shogun
Posts: 12,875
Registered: ‎04-15-2011

Re: No change yet. Hate the waiting game...

Don't worry about rather fine tuning right now.  You're going to yoyo a bit.  Keep on getting those baddies off, scores will go up.


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
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Valued Member
lecorps4fun
Posts: 40
Registered: ‎03-25-2008

Re: No change yet. Hate the waiting game...

I agree... don't get discourage.  It may take some time, and a few errors.  As you noticed, using your card close to the max is a very bad idea.  Going over your limit is even worse.  If this was me I would do the following:

 

1. Dispute/Validate all the accounts - even if they're yours.

2. Review the accounts for inaccurancy, and if they are any - dispute.

3. PFD





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