Understanding FICO® Scoring

[jcstarkey8826]

I just pulled my TU and it said I was at a 588, but if I paid my bills on time for the next six months I would be over my 620 goal range, which would be awesome. Is it usually pretty close?

[annielorie]

Its an average. Not always dead on wahts your credit picture I will tell you how to sqeak out every point possible that I know. I stared with no score Im 715 and 710 respectfully

[jcstarkey8826]

I have 2 student loans through mohela one is $2000, one is $700- both current, no lates for 2+ years on both. 6yrs 6 months old

unsecured CC- $500 limit, 0% util. never late. 6 months old

auto loan- 11k  never late. 2 years old

DTE utility bill 12 months never late. closed

baddies

discover card charge off, $1147 5 1/2 years old (paying settlement, and GWing)

discover card judgement for the above, filed 1 1/2 years ago. (offering PFD/GW)

Medical Collection 7k, 6 years old (not paying, will fall off 2013)

student loan collection $0 showed on credit though I believe I owe $2700ish, currently in dispute 3 years old (dont know who has the debt now, will seek rehab program for this debt when someone contacts me)

1 inquiry on file

and thats my picture. Hopefully it will be a lot cleaner in a few months.

[ztnjpv]

It's like saying: Walk to toward the sunset and you'll reach California. 

[annielorie]

From what you said just a couple of notes. Try to get the attorney for Discover topetition court to  vacate the judgement and get it deleted from files that hurts the most. You definately need to call the cc company that you have had for 6 years and request a CLI.  From looking at your profile I would think you would be way higher 

Am I missing something. Also if you can get a family member to put you on one of their cards if it has no deliq. and util. isnt to high. BUt truthfully the judgement and chargeoff is what you are being held down by.ALso use the cc and let it report a small amount then pay off in full just before you need the boost.Idont know why but it manipulates the fico higher for some reason.  Hope that he;ps

[jcstarkey8826]

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annielorie wrote:

From what you said just a couple of notes. Try to get the attorney for Discover topetition court to  vacate the judgement and get it deleted from files that hurts the most. You definately need to call the cc company that you have had for 6 years and request a CLI.  From looking at your profile I would think you would be way higher 

Am I missing something. Also if you can get a family member to put you on one of their cards if it has no deliq. and util. isnt to high. BUt truthfully the judgement and chargeoff is what you are being held down by.ALso use the cc and let it report a small amount then pay off in full just before you need the boost.Idont know why but it manipulates the fico higher for some reason.  Hope that he;ps

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the credit card is only 6 months old, so no CLI available there, and honestly... my family isnt trustworthy enough for me to risk being responsible for them. Actually, my mom doesnt even have a CC and just filed BK so I cant do that either. The only thing youre missing is that my car only reports to EX, which I cant pull that, and my student loan has had 14 lates in the past 6 years. dating 3-5 years back. Im currently in talks with discover to pay the debt if they will either, remove the judgement or sign a non disclosure agreement. Trying for the removal of the judgement first. Should hear back soon on their decision, but either way, its making my util 117% so Im paying it very soon so I can get that bump in my score. (also in process of GW lates from student loan, as I havent been late in several years)

[marty56]

Last month with a major derog still on my report and a score of 763, the simulator told me my score would be in the 833 - 850 range if I paid off most of my debt in 24 months.

Today with a 785 score and no derogs, it told me my score would be in the 795 - 835 range if I did the same thing.

While 795 - 835 seems like the more reasonable result, I still feel the accuracy of it is based on the content of your CR and the consistancy of the answer would be suspect.  The more negative your report is, the more the results may be off.

OT and LOL, the remarks on my new TU report that my none mortage balances were too high, which included a autoloan that is over 2/3d's paid off was rather FAKO like and not very FICO like.