Question that may or may not be able to answered completely. I recently had a large jump (21 pts) and am trying to figure out what to attribute it to.
My last derog was almost exactly 6 months prior to the jump (late CC payment) so I'm wondering if there is a precise aging process by which the severity of the derog ages. The other possibility is that my untilization dropped below 10% around 60 days ago, and it just took a bit to catch up with Fico (Even though the actual account balances are reported on time each month).
With all that being said, IS there a set schedule by which derogs will make a quick decrease in severity, or is it the slow, small increases that I'm used to seeing, spread out over the couple of years that they affect the score?
The bump was probably from your util being lowered. The affect of your lates just depend on what kind and when. Was it a 30, 60, 90 or more? 30 day lates hammer you hard at first but lose steam fast, they start to diminish after a year and lose almost all their punch after 5. The bigger ones tend to affect your score longer, 90s and above are major derogs, they will lose their affect over time too, but they still carry some weight until they fall off.
Starting Score: 504
Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
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Actually more of a checkpoint thing, after 2 years FICO doesn't put much weight at all into them.
Starting Score: 504Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
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