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I've been managing my sister's credit for almost a year now and typically her FAKOs (understandably) have been just under 600. On her Equifax report she has:
1 CC CO - 6/2003
1 Collection - 5/2006
1 Judgement - 5/2006
1 Verizon collection - 7/2005
Tell my why I just pulled her FICO Equifax score from http://www.freeficoscore.com/UnionPromoOffer/ and it gave her a 692??
It gave me a 683 and I have a charged off loan from 2003 and 8 late payments on my ex husbands student loan about 4 years ago.
Equifax hates me!
a 692 with those problems? Wow, maybe I can hit 700's after all.
You give me hope.
A FICO score of around 700 with four major derogs is very abnornal.
She must otherwise.have a very old AAoA, a great credit mix, no new inquiries, a high CL, very low % util, and a majjority of cards holding zero balance.
Four major derogs is a min of a 100+ hit on scoring in payment history.
FICO is a multi-category conglomerate of five categories. The payment history you have set forth is poor, so the others must be stellar!
@RobertEG wrote:A FICO score of around 700 with four major derogs is very abnornal.
She must otherwise.have a very old AAoA, a great credit mix, no new inquiries, a high CL, very low % util, and a majjority of cards holding zero balance.
Four major derogs is a min of a 100+ hit on scoring in payment history.
FICO is a multi-category conglomerate of five categories. The payment history you have set forth is poor, so the others must be stellar!
Got to be AAofA and great utilization. I have a 693 AAofA 3+ 1% utilization and a 9 yo BK. Shows that a BK beats 4 major derogs. How much do I win?
Well I'll chime in here. I have FICO scores of 674, 675, and 720. 720 was Experian so go figure.
Anyway,
I have 3 paid judgments.
3 Old Paid Chargeoffs.
1 Settled Account.
15 Inq
Sad thing is that I lost points when I got my last collection removed. Maybe I got rebucketed. But I will admit it frustrates me when I claw back from a bad financial situation and have a low score, and someone files bankruptcy and has a better score then me.
@RobertEG wrote:A FICO score of around 700 with four major derogs is very abnornal.
She must otherwise.have a very old AAoA, a great credit mix, no new inquiries, a high CL, very low % util, and a majjority of cards holding zero balance.
Four major derogs is a min of a 100+ hit on scoring in payment history.
FICO is a multi-category conglomerate of five categories. The payment history you have set forth is poor, so the others must be stellar!
AAoA - has to be around 5-7 years I'm going to imagine. Oldest account being maybe 15 years.
Credit Mix - 1 car loan (2.5 years old), 1 major CC (1.5 years old) - no lates -- no mortgages, no minor CCs
Inquiries - 5 in the last 2 years, 1 in the last year
Credit Limit - 1 card, $500
Utilization - $0 (as of this month, has been maxed out for months)
Really? 692? I guess it is possible based on some of the comments... but it's SO not FAIR! *stomps feet*.
Thanks for the input...