Understanding FICO® Scoring

[LadyFICO]

I tried to see if any of the s/p cards do any goodwilling and they seem to be difficult. I have a late pay with plain commerce/bank pf hoven that occurred approx 20 months ago and they will not remove it. I figure my score should jump a little once it ages to the 24 month mark.

[MercyMe]

Wow!  Impressive, LadyFico!  Scores are coming up fast! 

[LadyFICO]

Thank you the only thing that concerns me is once everything is reported and I go back to just worrying about paying slightly more than the minimums will I plateau before I reach my goal?

[Brammy]

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LadyFICO wrote:

Something I noticed I have two hsbc (orchard) cc and they both just reported to eq I guess overnight no statement has cut yet so I guess we should always be aware of our usage on this one. Also, this update has not hit the other two bureaus yet nor have I received an alert from scorewatch to let me know of any score changes which I believe should occur due to now four cards I have paid down from max should be showing . I'm almost inclined to think that maybe eq batches the changes for x number of days and makes a score determination for the month. Whereas the other two adjust your scores as soon as a change occurs. Making EQ the hardest for me to get a huge point boost like the other bureaus. Just some more thoughts.

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Usually HSBC and Orchard s/p will report end of month regardless of the statement date.  Check in to when the date is report 'as of' and that will give you a good idea of when to make sure your balances are lowest.  As the PP said, it is almost impossible to goodwill ANYTHING out of these two cards so remain perfect.

Message Edited by Brammy on 05-06-2007 10:27 AM

[Drew]

Congratulations.

How are you getting your FICO scores?

Message Edited by Drew on 05-06-2007 04:37 PM

[Tuscani]

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Drew wrote:

Congratulations.

How are you getting your FICO scores?

Message Edited by Drew on 05-06-2007 04:37 PM

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myfico.com

[LadyFICO]

Thanks Drew, Tuscani is correct, I use MYFICO.com the only true way to obtain your FICO scores. I am hoping they develop a product that incorporates all 3 bureaus but for now, and since I was a newbie and just learning about credit repair I initially purchased and pulled using the suze orman kit to obtain info about all 3 fico scores. For me, scorewatch for monitoring EQ came a week later as I continued exploring what products would work for me.

I get new reports as I need them or when I think I need them. (This includes the Sally orman reports to see EX and TU progress as well. Since I am trying to share with you guys about the progress I am making, I will try to obtain them a little more often. Once I reach a point of not having so much credit activity I can pull when I make major purchases or think an alert has triggered something that looks suspect. Until then I will continue to share.

[LEBR4113]

Kudos to you Lady!  I have a similar circumstance (I just posted "My Mortgage Journey Using FICO" )and it is nice to know that I am not alone   Good luck to you!

[LadyFICO]

Thanks I will check it out!