Curious, most recent CA fell off. 2 remain. Any fi... - myFICO® Forums

jbh · ‎10-30-2008

I was wondering if it is true that if a collection falls off, even IF it is new (< 1 year), the score likely will NOT jump so long as other collections remain (2 years and 3 years)

I figure since they fall off by '09 (the age I give them is based on 'date open', not DOFD)

I should be patient before I feed fico...but I was wondering based on how fico operates, do only the LAST collections make the fico score jump when they fall off? Or can a 3rd to last, but most recent collecton, make a dent as well?

Thanks

llecs · ‎10-30-2008

I bet you have a strong double-digit increase if your most recent CA fell off.

jbh · ‎10-30-2008

Thanks. The last time I checked, it was in the 630's but that was before 4 new accounts

and the deletion. So the new accounts might offset the jump, but it'll be interesting to see if I hit where TU is (near 660, will skyrocket when I pay off balances) - EXP and TU are identical outside of unique inq's

Thanks

llecs · ‎10-30-2008

I was going to guess, but there's toooooo many variables. I would have said 40-50. But new accounts, esp. if your avg. age drops by a yr or more would probably trump that. But 4-6 months out, you'll be ahead (assuming 40-50).

jbh · ‎10-30-2008

TU with = records, collections and balances = 654 as of last check

EXP today - 630 :/

??

So, it must have really dropped earlier from the old 630+ (before the new accounts/inquiries)

So maybe it was a 20+.

It's just odd how Experian is punishing the ca's/new accounts probably more than TU. Crazy, 25 or so point difference with almost = reports? Curious to see what happens when all 3 ca's are gone and balances are paid, when I compare the 2. Should be fascinating!

Thanks, Llecs

PS. My average age of accounts went from about 2 years to 1. So that probably caused that major drop.

Message Edited by jbh on 10-30-2008 09:54 AM

Junejer · ‎10-30-2008

I personally would've bet on not more than 10 points. Those CAs that are two years old, were going to start counting now. I don't think that there is too much difference between a one year old collection and a two year old collection. Personal opinion.