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Valued Contributor
Repo-ed
Posts: 2,953
Registered: ‎02-09-2012
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Re: Paying on time- expected Credit score increases?


Duncanrr wrote:
Is the two year point evaluated on an account my account basis or is it for my entire credit report profile? I have three late accounts. One of the will be two years no late in November and the other 2 years late in January. Should I get a bump at that point?

It is entirely possible, but I wouldn't hold my breath for something significant.

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golo
Posts: 364
Registered: ‎04-04-2012
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Re: Paying on time- expected Credit score increases?

It's mess up,you can never win with this people....ugh

Read and read...and then....read some more....


Starting Score: 603 myfico EQ,648 myfico TU april 2012
Current Score: 608 myfico EQ
Goal Score: 660 myfico EQ july 2012??


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rckstrscott
Posts: 2,659
Registered: ‎04-25-2011
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Re: Paying on time- expected Credit score increases?


Duncanrr wrote:
Is the two year point evaluated on an account my account basis or is it for my entire credit report profile? I have three late accounts. One of the will be two years no late in November and the other 2 years late in January. Should I get a bump at that point?

FICO scores work off snapshots. The score will be dictated on what is in your report. So if you have negative payment history over the last two years, then yes, it will factor that fairly heavily...

 

I would surmise you will get a small bump in Nov, and another slightly larger bump in Jan ----YMMV however

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
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
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Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
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LionLaw
Posts: 258
Registered: ‎06-10-2012
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Re: Paying on time- expected Credit score increases?

I am in the same boat as you.  I've got lates on my CR from 2011 and before, and all I can do is wait for them to age off.  I'm also looking to add another CC or two to help my credit mix, and to get some additional TLs reporting positively; it might not help much in the short term, but I'm hoping it will benefit me long-term.


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

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jcstarkey8826
Posts: 704
Registered: ‎06-01-2012
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Re: Paying on time- expected Credit score increases?

[ Edited ]

June-December 2010 I was reported as late on 2 student loans (same company/bill) I have 7 consecutive lates on both accounts total for the past two years (it was in forebearance)

 

So starting this month and for the next seven months going forward myfico score simulator has my score jumping a minimum 30pts, not for paying on-time, but because those lates are hitting the over 2 year mark. each month one falls beyond that and causes my score to increase. Still trying to GW them though.

 

Try using the simulator. I use the lowest provided number they simulate, just so I dont expect a lot.

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Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012
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Re: Paying on time- expected Credit score increases?


LionLaw wrote:

I am in the same boat as you.  I've got lates on my CR from 2011 and before, and all I can do is wait for them to age off.  I'm also looking to add another CC or two to help my credit mix, and to get some additional TLs reporting positively; it might not help much in the short term, but I'm hoping it will benefit me long-term.


Im still waiting on some things to be removed from EQ and TU.  I also have my second CC to start reporting (Cap1).  When these things clear, I hope to be around 670.  I plan on adding two cards in my mix in the next 2-3 months and then I will just garden.  If I'm lucky and get a GW to be successful then maybe I'll break 700 this year....no telling as the ones I have left to GW are some of the most difficult ones out there (Verizon, Sallie Mae and Cap1). 



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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