Understanding FICO® Scoring

[tonyaether]

Hi cmd! The way I see it, it couldn't hurt to try. Maybe you could try from the angle of removing the lates, not the account altogether. They may not go for it but at least you will have given it a shot. I am wondering if that is what is screwing with your length of credit history too. You will need to evaluate your report with a fine tooth comb and maybe find some key points of contention and also attempt to figure out what is bringing down your length of history. It doesn't make sense as your oldest account and AAOA is older than mine. Do not make a dispute with the credit bureau though. Go directly to the lender and present your case of the factors you would like changed and ask for goodwill. I think directly making a dispute with the bureau sometimes can ruffle feathers and that isn't what you want. It is likely to keep them from accepting any goodwill request afterwards.

[cmd982]

Thanks for the reply.

That's just it though, I was never late prior to the Short Sale. My credit with them was spotless all the way up to the Short Sale. So my only options I guess are to request removal of the Settled for less than owed distinction or see if they can remove the account completely. At this point, I don't really care.

I'm thinking this is all a combination of the Short Sale, personal loan being less than a year old, and maybe some other small things that they are complaining about. Who knows.The latest is Trans Union's number 3 top negative reason is that I have consumer accounts (store department cards, i.e. my MilitaryStar Card) on my record, which is also apparently dragging my score down. Really?! How ridiculous!

Sorry if I get a little heated, I've been battling credit since day one of my credit profile being born. Just tired of worrying about it...

CD

[Revelate]

---

psychoinhell wrote:

Student loans are installments and they do not affect Fico scores unless you are late or go into default.

---

Late reply, but that's not the case for installment loans.  Payment history is the most important thing in FICO, and installment payment history is counted in that same as revolving history.  

Beyond that having installment loans is nothing but goodness for the FICO mix of credit function too.  

About the only things I've heard about student loans in particular, is anecdotally they don't seem to have much of an impact at all on Auto Enhanced scoring for first-time buyers, unlike a mortgage or other installment loan types.