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42 point jump but I'm still disappointed.

New Contributor

42 point jump but I'm still disappointed.

OK, so I have been disputing a collection tradeline on TU since March. My TU score was 546. Finally, after months of fighting, I got rid of it. It dropped off my TU report on Friday. It appeared early this year so it was very recent. It was the only recent baddie I had. I had a bk In 2003. EX is 666 and EQ is 648. The only difference between TU and the rest was this one baddie. I assumed that once I got rid of it, TU would jump up to the 600s. But, I bought my updated score for TU on MyFico today and my score only jumped to 588. 42 points is a sizeable jump and I'm grateful. But, now that this recent collection is gone, why is TU still 60 points below EQ?
Message 1 of 7
6 REPLIES
Valued Contributor

Re: 42 point jump but I'm still disappointed.

Most people do not get the score jump they expect from deleting a baddie...there are folks out there on the fruited plains who work for months to remove that hated baddie they believe to be the linchpin of their bad credit, only to see a measly 15-point increase.
 
The good news is you now don't have anything preventing your credit score from increasing in the future.  If you maintain three or four revolving tradelines in good standing with low utilization, you should see your score increase from this point forward, possibly 5 to 10 points a month until you hit the 700 club.
- - - -
in a credit-scoring postnuclear Stone Age...
Message 2 of 7
Moderator Emeritus

Re: 42 point jump but I'm still disappointed.



madriley wrote:
OK, so I have been disputing a collection tradeline on TU since March. My TU score was 546. Finally, after months of fighting, I got rid of it. It dropped off my TU report on Friday. It appeared early this year so it was very recent. It was the only recent baddie I had. I had a bk In 2003. EX is 666 and EQ is 648. The only difference between TU and the rest was this one baddie. I assumed that once I got rid of it, TU would jump up to the 600s. But, I bought my updated score for TU on MyFico today and my score only jumped to 588. 42 points is a sizeable jump and I'm grateful. But, now that this recent collection is gone, why is TU still 60 points below EQ?

Okay, have you checked to make sure that all three reports are identical.  You can have diferent scores on all three reports sometimes even if it appears they contain the same info.  Is your reporting history longer on some then on others.  I know where I live, local lenders report to Equifax, therefore I have a longer Equfax history than with the other two.  Are there comments  on some reports that are not on others?  Inq's.. .there are a lot of factors that can come into play between different bureaus.  So far you seem to be in an acceptable range as far as the difference is concerned.
Message 3 of 7
Established Contributor

Re: 42 point jump but I'm still disappointed.

Yea I got 4 baddies removed and only got 17 or 19 pts so that 40 something point looks good to me...Although I understand where youre coming from...
TU 662 EQ 644
EX 643
Message 4 of 7
Super Contributor

Re: 42 point jump but I'm still disappointed.

I think it is pretty reasonable.  Time will help as well - it might start a steady rise as the months go by
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 5 of 7
New Contributor

Re: 42 point jump but I'm still disappointed.



Brammy wroteSmiley Surprisedkay, have you checked to make sure that all three reports are identical. You can have diferent scores on all three reports sometimes even if it appears they contain the same info. Is your reporting history longer on some then on others. I know where I live, local lenders report to Equifax, therefore I have a longer Equfax history than with the other two. Are there comments on some reports that are not on others? Inq's.. .there are a lot of factors that can come into play between different bureaus. So far you seem to be in an acceptable range as far as the difference is concerned.

OK, I think I see what the problem is. On my MyFico report for TU, in the "Understanding your score" section, it says "You have recently missed a payment. Last missed payment was 1 month ago." This is inaccurate. My last late payment was a 30 day late in April of 06. I looked through all of my accounts on my report and I can't find one that has been late more recent than that. I think my score is reflecting a late payment in the last month but I can dispute it because I don't know what account it is talking about.
Message 6 of 7
New Contributor

bump

bump
Message 7 of 7