@Anonymous wrote:
what do you mean by "rebucketed"????
Here's a copy of what I've posted elsewhere:
OK, all us poor credit consumers are grouped with other consumers with similar credit reports. I think there are 10 of these groups, which we often call score buckets.
If you have a collection, you might be in the collection bucket. If you have serious derogs, but no collections, you're in another. Judgment/ public record? Welcome to that bucket. Brand new starting out, short history--yep. Long, long history--one for you too, and so forth.
This makes it easier to get halfway decent scores, even with problem histories, because otherwise we'd all be compared to psychic and MV and the others, and stuck in the 300's for life.
So you work on your credit and improve your scores, and one day, when the collection falls off or the serious lates or removed or your history gets older, you change buckets. There is often a score drop when this happens, because you used to be pretty hot stuff in your old bucket, but now you're a newbie and might need to do some catching up with the new crowd.
But when you move into a new bucket, your scores have the potential to go much higher. I had a 651 on EQ when I was re-bucketed, and I dropped to 636. Four months later I was at 728, before I went credit shopping.
* 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