Tri-Merge report from Lender.

[Anonymous]

Was looking at some things in my report, one of the major thing's that is affecting my score are TU 021(Number of accounts past Due), EQ 018 (Number of accounts with delinquencies)( EX didn't have those listed). And all have listed 09 ( Serious delinquency). The reason I had these negative indicator's was due to having accounts CO 2 years ago. So knowing what is affecting my score's, if I paid off those accounts off instead of paying them monthly would it positively affect my scores?

Well here is a little more detail:

TRANSUNION/FICO CLASSIC (04)

SCORE:

609

039 - SERIOUS DELINQUENCY

013 - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN

018 - NUMBER OF ACCOUNTS WITH DELINQUENCY

021 - AMOUNT PAST DUE ON ACCOUNTS

EXPERIAN/FAIR, ISAAC (VER. 2)

SCORE:

615

38 - SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED ( just got this removed, was not ours)

13 - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN

20 - TIME SINCE DEROGATORY PUBLIC RECORD OR COLLECTION IS TOO SHORT

10 - PROPORTION OF BALANCE TO HIGH CREDIT ON BANK REVOLVING OR ALL REVOLVING ACCOUNTS (down to 22% from 54%)

EQUIFAX/FACTA BEACON 5.0

SCORE:

637

00039 - SERIOUS DELINQUENCY

00013 - TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN

00018 - NUMBER OF ACCOUNTS WITH DELINQUENCY

[llecs]

Your FICO could increase, decrease, or stay the same. 

What kind of account is it?

If this is a CO like a utility, phone, loan, or something along those lines, then paying it off won't increase or decrease. Likely it would stay the same.

If it is like a CC, HELOC, or LOC, and if the account still factors into your CC util (usually), then paying it can cause a change to your score. If it still factors into util, then you'll have to do some match to see if the util on this account helps or hurts your overall util. You see, once you PIF or settle, the balance goes to $0 and it forever is removed from util. So, if the util hurts now in relation to overall util, then paying it will help your overall util and that alone could help your FICO. If you've been paying on it and the balance is lower and the util on that account is helping your overall util, then paying it off can hurt your overall util and thus cancause a score drop.

Now your lender might require oyu to pay it anyway so it may be out of your hands anyway.

[Anonymous]

Both CO are Wells Fargo. One was a installment, the other was a revolving account.  Two days ago I ordered my EQ CR from here, and I can't seem to find where my util is figured?

[llecs]

Sometimes util is listed on pages two or three of your FICO report within the pos/neg reasons that help/hurt your FICO. It depends on your credit. Nonetheless, it's best to calculate it on your own by adding up your revolving balances and dividing that into the sum of your reported CLs, then repeating the process minus that WF CC.

ETA...looks like util is only impacting EX the greatest, with minimal impact on EQ and TU (which is why you don't see on your FICO report). 

[proudnavymom]

Regarding utilization--if a CC is CO and is reporting a 0 balance (because it was sold I gather), but is still reporting a CL is that CL figured into the sum of the reported CL's?

[llecs]

---

@proudnavymom wrote:

Regarding utilization--if a CC is CO and is reporting a 0 balance (because it was sold I gather), but is still reporting a CL is that CL figured into the sum of the reported CL's?

---

No. Once the balance and/or CL report $0, then [both the balance and CL are] forever removed from util.

[Anonymous]

Looking at EX and EQ report again, both showing a CL of 5000 and past due of 1468 on  the WF Revolving account and a Discover Card that's closed showing a CL of 4140 and balance of 2315 (but not past due). So it must be a factor into my overall Util? Sorry to ask soo many question's, just trying to tackle this credit issue and to get the best results.

And also EQ is only factoring my open accounts in the util. (24%) under my revolving accounts.

[llecs]

If a TL is reporting a balance and a CL you have to assume it's factored in.

[Anonymous]

Even if its closed right?

[llecs]

Right, opened or closed. That's why so many are dinged extra for having a charge-off CC. Ding for the baddie and ding for being over the limit (in most cases).