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Established Contributor
cashnocredit
Posts: 929
Registered: ‎07-18-2009

Re: Fico Score did not improve after 7 month credit card activity

First, the two 60 day negatives are what is lowering your score. They lower it much more and much longer than a single 30 day negative. Having two negatives puts you in a particular category. On top of that recent v non-recent use of revolving credit shifted things. FICO scoring is statistical and not absolute. FICO has no memory of prior FICOs or what category resulted in those scores.

 

FICO scores also produce a list of factors, in order of impact but they don't ascribe weight to them other than that they are in order. Since the two negatives are, based on what I've seen from others and experienced myself, the dominant score killers, the remaining items in the "what's hurting your score" list are likely contributing a rather small portion to your score. Possibly only one or two points.  It's just that scores are reported with a list of items, in sequence, that negatively impact your credit no matter how minimally.

 

Once they are gone your score would likely be over 780. That's what happened to me. I was stuck around 710-720 then it popped to 780 when the last severe neg dropped.

 

And the negative reasons re-shuffled. Prior to that I also had a "short history" as a negative while of course the first negative, was the baddie. My interpretation is that a longer credit history was the only thing that would have helped the score so long as it was impacted by the negs.

 

 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Regular Contributor
Cloudlb
Posts: 225
Registered: ‎08-05-2010

Re: Fico Score did not improve after 7 month credit card activity

[ Edited ]

I think you have gotten some very good information here.  We, as consumers, can only understand and apply so much about FICO scoring.   Stop trying to "apply logic" to a complex set of mathematical algorithms which the consumer is not privy to, and never will be.  Applying magical thinking would be just as fruitful.  Very frustrating!

New Contributor
fico64
Posts: 59
Registered: ‎09-19-2010

Re: Fico Score did not improve after 7 month credit card activity

What I I learned: the credit card account with the comment in place caused the scoring to egnore the account completely, as though it was not there. 

 

Once the comment went away, scoring "saw" an account with a $13,000.00 credit limit and zero balance. This credit was now in Fico's scoring equason and bumped me up 12 points.

 

I have a difficult time with a non human machine telling me on the one hand  that I have great credit history and rates it as a positive factor, then 35 days later, without impunity changes it's mind and downgrades me and penalzes me on paper as a negative.  Yes, some mathematical alogrithim gone wild!

 

 

 

Established Contributor
my-own-fico
Posts: 1,032
Registered: ‎01-05-2010

Re: Fico Score did not improve after 7 month credit card activity


fico64 wrote:

 

I have a difficult time with a non human machine telling me on the one hand  that I have great credit history and rates it as a positive factor, then 35 days later, without impunity changes it's mind and downgrades me and penalzes me on paper as a negative.  Yes, some mathematical alogrithim gone wild!


 

Does your negative factor look something like the image below? It's a couple of years old; a new card had reported, but my oldest card and AAoA in whole years had not changed.

 

short-credit-history.jpg

 

Have you visited myFICO's Retirement Topics forum? ... Confessions of a Credit Junkie ... In the credit card garden since 2010
New Contributor
fico64
Posts: 59
Registered: ‎09-19-2010

Re: Fico Score did not improve after 7 month credit card activity

[ Edited ]

Exactly. First report, 35 days ago said 25 years, 3 months on top and 10 years on bottom. Postive.

 

              Yesterday's report, said 25 years, 5 months on top and 11 years on the bottom. Negative.

 

In both cases, newest account is 3 years, 3 months old.


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