which of these made my score drop 17 pts?

[Anonymous]

My score dropped 17 points since I last looked and the following three transactions/changes were the only ones that took place: 1) credit card reported (ontime payment) 28% balance 2) two significant debts were removed (11,000 and 19,000) both in derogatory standing, apprx seven years old 3) Four inactive "neutral" accounts were updated, ages of these four accounts (no transactions, data) were 8-12 years of age I would have thought that #1 and #2 would result in a positive increase for my score and that #3 would have no bearing.... yet my score still went down! :-(

[happy0510]

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@Anonymous wrote:
My score dropped 17 points since I last looked and the following three transactions/changes were the only ones that took place: 1) credit card reported (ontime payment) 28% balance 2) two significant debts were removed (11,000 and 19,000) both in derogatory standing, apprx seven years old 3) Four inactive "neutral" accounts were updated, ages of these four accounts (no transactions, data) were 8-12 years of age I would have thought that #1 and #2 would result in a positive increase for my score and that #3 would have no bearing.... yet my score still went down! :-(

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What kind of accounts were these? Need more details.

[Anonymous]

Hi there,

Sorry there are six accounts not four that they updated:

They are:

1) two Student Loan/installement Accounts both had zero dollar (no monies taken from/nor owed.  no rating, listed as closed).  These two are 14 yrs old

2) installement account type, 10 yrs old, , $0, no rating,listed as closed

3) three open account types, 12 yrs old $0, no rating, listed as closed

I don't even know what an "open account type" is :-(

[guiness56]

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@Anonymous wrote:

Hi there,

Sorry there are six accounts not four that they updated:

They are:

1) two Student Loan/installement Accounts both had zero dollar (no monies taken from/nor owed.  no rating, listed as closed).  These two are 14 yrs old

2) installement account type, 10 yrs old, , $0, no rating,listed as closed

3) three open account types, 12 yrs old $0, no rating, listed as closed

I don't even know what an "open account type" is :-(

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An open account is one that you use actively.  With that said, all of the above are closed accounts and should have no activity on them at all.

[Anonymous]

Hi Jped,

 It's still a little hard to decipher based on the info we have so far.  I'm going in, but apologize in advance if I've misunderstood your post and responded in error.

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Jped wrote:
My score dropped 17 points since I last looked and the following three transactions/changes were the only ones that took place:

1) credit card reported (ontime payment) 28% balance  If this was a new account, or an account that previously had a lower balance, that 28% utilization is enough to knock your score 17 points.  (See my response to your other post today:  Available credit, does a higher $ value mean more ... ).  Getting your utilization below 9% on this card will be helpful FICO score-wise.

2) two significant debts were removed (11,000 and 19,000) both in derogatory standing, apprx seven years old   If these were your only two derogatories, then you've been rebucketed, which often knocks your score initially but is good in the long run.

3) Four inactive "neutral" accounts were updated, ages of these four accounts (no transactions, data) were 8-12 years of age

I would have thought that #1 and #2 would result in a positive increase for my score and that #3 would have no bearing.... yet my score still went down! :-(

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In addition, there are other factors on your CR that are harder to see.  AAofA can affect your credit scores as well.  Aging of new accounts or inquiries can do the same.  Hope there's some info that applies to you and is helpful in some way!

[Anonymous]

Hi again! 28% is a significant decrease as my utilization was always 90% or higher (Up until a month agao, I always thought it was timely payments, not utilzation that impacted your score)

There were no new inquiries or any other changes (other than what I posted) so I was confused how any of those could actually result in a lower score

Forgive my ignorance but what does "rebucketed" mean?  lol

Thanks!

[MarineVietVet]

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@Anonymous wrote:

Hi again! 28% is a significant decrease as my utilization was always 90% or higher (Up until a month agao, I always thought it was timely payments, not utilzation that impacted your score)

There were no new inquiries or any other changes (other than what I posted) so I was confused how any of those could actually result in a lower score

Forgive my ignorance but what does "rebucketed" mean?  lol

Thanks!

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Those are the two most critical areas of scoring. Payment history is 35% of your score and CC utilization is 30%.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[RobertEG]

You state, in your original post, that:

         2) two significant debts were removed (11,000 and 19,000) both in derogatory standing, apprx seven years old

How were they "removed?"  Payment itself does not remove any prior derogs without  a prior PFD accceptance contract, or a binding letter of GW deletion.