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New Member
Posts: 3
Registered: ‎08-11-2007
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Re: Credit Scoring 101 - START HERE!

This is great!  I just watch my fico score drop 70 points because I was late. I lost my job and was trying to make ends meet.  I at least had one of my revolving cc for 2 years and was in great standing records......I am now caught up today and have less than half a bal oweing from the credit limit.  Should I write a note to the credit bureaus and have it posted on my credit report.  I did read creit 101.....but I do not recall reading anything of this.

 

Thank

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit Scoring 101

Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
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Re: Credit Scoring 101

Love this post!  The following link is no longer available:

 

" 1. If there is inaccurate derogatory information on your credit report, get it corrected.

USE A GW LETTER FOR ACCURATE DEROGS SUCH AS LATES AND PAID COLLECTIONS:

 

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2661 

 

You'll see this:  "The Message you are trying to access has been deleted. Please update your bookmarks."

 

If anyone has the current bookmarks, I'd love to know.

 

Thanks!

Just puttin' syrup on something, don't make it pancakes.
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Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit Scoring 101

[ Edited ]

utah2009 wrote:

Love this post!  The following link is no longer available:

 

" 1. If there is inaccurate derogatory information on your credit report, get it corrected.

USE A GW LETTER FOR ACCURATE DEROGS SUCH AS LATES AND PAID COLLECTIONS:

 

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2661 

 

You'll see this:  "The Message you are trying to access has been deleted. Please update your bookmarks."

 

If anyone has the current bookmarks, I'd love to know.

 

Thanks!



Sometimes the link gets reassigned. I bet it is either Goodwill Example Letter or Goodwill Primer. In fact, as I look at the identifier in the link, it is not "Goodwill Primer" but is certainly the former. But both links are useful.
Message Edited by llecs on 04-21-2009 11:07 AM
New Member
Posts: 3
Registered: ‎05-12-2009
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Re: Credit Scoring 101

Question: I have plenty of CCs, but no department store cards. Would adding a department store card improve my FICO score? Secondly, would any increase it generated be offset by the decline from an inquiry? (We are looking to refinance our mortgage shortly)

 

TIA

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Posts: 28,098
Registered: ‎04-01-2007
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Re: Credit Scoring 101

Hi, arlene, welcome to the forums!

Conventional wisdom says, yes, a purely retail card (not co-branded with Visa/ MC/ Discover/ AmEx logo) will help your score some by improving your credit mix.

Conventional wisdom also says not to apply for any new credit six months or more before a mortgage app.

I'd hold off for now. It might help your score several points, but not significantly; it might not counter-balance any inq or new account ding; and you don't want to rattle a mortgage lender. They're peculiar enough now as it is.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
New Member
Posts: 4
Registered: ‎06-18-2009
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Re: Credit Scoring 101 - START HERE!

If a derogatory comes off in seven years from the date it goes bad, is that the date it went bad from the original lender or from a subsequent collection agency? I have some baddies on my report which should be off if it is dependent on the original lender date gone bad.,
New Member
Posts: 4
Registered: ‎06-18-2009
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Re: Credit Scoring 101 - START HERE!

what is a duplicate on a credit report?
Established Contributor
Posts: 645
Registered: ‎10-24-2007
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Re: Credit Scoring 101 - START HERE!


raydell wrote:
If a derogatory comes off in seven years from the date it goes bad, is that the date it went bad from the original lender or from a subsequent collection agency? I have some baddies on my report which should be off if it is dependent on the original lender date gone bad.,

 

Derog information should be removed 7 - 7 1/2 yrs. from DOFD. Collection agencies cannot reset this date unless you at some time started payment to them.
Established Contributor
Posts: 645
Registered: ‎10-24-2007
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Re: Credit Scoring 101 - START HERE!

[ Edited ]

NicNak wrote:

This is great!  I just watch my fico score drop 70 points because I was late. I lost my job and was trying to make ends meet.  I at least had one of my revolving cc for 2 years and was in great standing records......I am now caught up today and have less than half a bal oweing from the credit limit.  Should I write a note to the credit bureaus and have it posted on my credit report.  I did read creit 101.....but I do not recall reading anything of this.

 

Thank


Was this a 30 day late?  It might be possible to have the creditor remove this from your reports by sending a GW letter explaining your recent unemployment and how you are striving to repay and keep current your accounts.

 

Do a search on this forum for GW letters...and if it doesn't work the first time, try again...then try again in 6 months.

 

Don't give up.

 

 

ETA...I just noticed I replied to a post over 5 months old...hope this worked out for him.

Message Edited by VEEnVEGAS on 06-21-2009 01:31 PM
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