Understanding FICO® Scoring

[thankfulheart]

Got a SW update today. My recent GW letter worked, removing an account that was reporting 9 months of up to 150 days late in 2007. I was SO excited that I was finally going to be in the 700 club.  It was worth a whopping 3 points, bringing me to 697.  Granted, I may have been rebucketed, but I do still have 2x 60 and a handful of 30s from that same time period.  Util didn't change any, nothing else did.  BTW, util is at 22%, so I know when that comes down after the statement cuts next week, it should be enough to bump me over 700, but sheesh, what does it take???

[llecs]

How old was the account in relation to your AAoA? In other words, could AAoA have dropped as a result of the loss of history? For example, maybe you gained 20 for the dropped baddie, but lost 17 due to impact in history thereby resulting in a net gain of 3 (with everything else being equal).

[Shogun]

I know, but any baddie removed is a good thing, now your score can grow.

[thankfulheart]

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llecs wrote:

How old was the account in relation to your AAoA? In other words, could AAoA have dropped as a result of the loss of history? For example, maybe you gained 20 for the dropped baddie, but lost 17 due to impact in history thereby resulting in a net gain of 3 (with everything else being equal).

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OK, so I went back to research this and my AAoA dropped by .2 years, so from 5.2 to 5 on EQ and 4.8 to 4.6 on TU/EX (according to USAA CMS). I wouldn't think that would matter all that much in the scheme of things.  I'm hoping to get my util down next week and see what kind of bump that gets me.  I pulled TU from here today and at least it was 726!!! woo-hoo!

[Booner72]

Just keep doing what you are doing and you will get there!!