Reply
Valued Contributor
Posts: 2,982
Registered: ‎02-09-2012
0

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.

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Frequent Contributor
Posts: 364
Registered: ‎04-04-2012
0

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??


Take the FICO Fitness Challenge

Valued Contributor
Posts: 2,661
Registered: ‎04-25-2011
0

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): 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
Frequent Contributor
Posts: 258
Registered: ‎06-10-2012
0

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

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Established Contributor
Posts: 710
Registered: ‎06-01-2012
0

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.

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
0

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

Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.