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Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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SW Alert: +16 points...sort of disappointing..

I just received an SW alert saying that there was a score change and account change..so I pull it up, and it's reporting the 3 disputes to First Premier, Capital One and Verizon. The score increased 16 points...is that because temporarily the new reporting balance is zero? Or was this an aging increase or something and it's also informing me of the account changes?

 

If it's the former, it's depressing because the First Premier and Capital One were over $1,400 in UTILIZATION that is maybe "temporarily" reporting as zero, and if I only got 16 points for going from 110% utilization down to below 9% then what a huge bummer lol. I'll take the 16 points, no doubt, but if I paid nearly $800 for 16 points, I'd like a refund :/



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: SW Alert: +16 points...sort of disappointing..

Under a dispute, FICO will ignore certain aspects of OC accounts only. These include the balance, the CL (in the case of a CC), and the payment history. 

 

What are the reported CLs of those two CC?

Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: SW Alert: +16 points...sort of disappointing..

The reported credit lines were $800 and $300, the balances were $901 and $518. If they ignored the balance of $1,400 and I only received 16 points that is such a blow to my hopes of what I would get for decreasing my utilization. Like I said before, this $1,400 was playing into Utilization, which with my 4 cards is $1,200, so even if all the cards are at zero, I am over 100% utilization. "Ignoring" these technically makes my utilization ~9%..and to only see 16 points was rough.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


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Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: SW Alert: +16 points...sort of disappointing..

Looking at your FICO report, is util listed as a negative reason? If in the #1 slot, then you stand to see the biggest gains. If not listed, then the gains are less. Where these the only three TLs disputed?

Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: SW Alert: +16 points...sort of disappointing..

Yeah only three disputed. Utility isn't even listed on my credit report...I know it was on TU but it isn't on my EQ.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


Take the FICO Fitness Challenge
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: SW Alert: +16 points...sort of disappointing..

[ Edited ]

sphinx313 wrote:

Yeah only three disputed. Utility isn't even listed on my credit report...I know it was on TU but it isn't on my EQ.


That could explain the lack of points. FICO ranks the negative items in order from worst to least.

 

ETA....it also means that it'll set you up with some larger gains as baddies come off provided util remains in check.

Established Contributor
sphinx313
Posts: 567
Registered: ‎02-12-2011
0

Re: SW Alert: +16 points...sort of disappointing..

I'm actually pretty upset that I paid $750 with the mindset that 100% difference in util was going to be huge and it turned out to be the finale firework killing a cage full of baby unicorns. Ah well, the debts gone and it's one step closer to an FHA loan.



Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700


Take the FICO Fitness Challenge

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