Lowering of credit score

[Junejer]

No problem kenbu. Here is one thread that talks about it and I am sure that there are many more discussions on the topic if you search here. I really hope that the bank doesn't round up to the nearest thousand or something crazy like that when they report. That $0.99 better not come back to bite you in the rear.

[Anonymous]

It's a warm cozy feeling knowing there are as many crazies out there as me.

For "laughs" I sent a dispute letter to Experian and challenged their scoring of my report. In April '08 my score was 825 and last month it was 735. My total debt was lower, the number of accounts with balances was less ( other then my mortgage; three accounts with balances, one an auto lease) and 2 recent inquires.

By the way someone asked about the one late pay; It was in Nov 2005 and I disputed it and ultimately sent in a rebuttal to the creditor's claim which never appeared on my report.

Bottom line, guys: I have a 41 year history of credit transactions, over 50 reported accounts in the aggregate, less debt and fewer outstanding accounts in the last ten years and one reported 30 day late pay which I disputed.

This would be funny if wasn't scary. I feel sorry for the young ones or anyone for that matter, who, don't as a rule pay attention to this stuff and get broadsided when they try and go for something big like a car or a house.

Kevork

P.S.. It seems like every six months, I order my reports and must do a fix of one kind or another on at least one if not all three. Where is the oversight?

[Junejer]

My opinion of the CRAs is that they are not real big on accuracy. They just report what's given to them. I moved back in late April and my address changed on my CRs about four times. I still have trouble using one of my cards at the pump, b/c the zip code listed is my P.O. Box. I have tried to change this numerous times. I am tired of dealing with the numbskulls over there.

[HoahCredit]

Well,

I have to say that my credit score has gone down significantly in the past month. On December I applied for four ccs. I got them all but my credit reports went from:

EQ from 783 to 760

EX FAKO from 803 to 777

TU from 789 to 773

I have been gardening since then so hope my score comes back up soon.

[namvet]

---

@Anonymous wrote:

It's a warm cozy feeling knowing there are as many crazies out there as me.

For "laughs" I sent a dispute letter to Experian and challenged their scoring of my report. In April '08 my score was 825 and last month it was 735. My total debt was lower, the number of accounts with balances was less ( other then my mortgage; three accounts with balances, one an auto lease) and 2 recent inquires.

By the way someone asked about the one late pay; It was in Nov 2005 and I disputed it and ultimately sent in a rebuttal to the creditor's claim which never appeared on my report.

Bottom line, guys: I have a 41 year history of credit transactions, over 50 reported accounts in the aggregate, less debt and fewer outstanding accounts in the last ten years and one reported 30 day late pay which I disputed.

This would be funny if wasn't scary. I feel sorry for the young ones or anyone for that matter, who, don't as a rule pay attention to this stuff and get broadsided when they try and go for something big like a car or a house.

Kevork

P.S.. It seems like every six months, I order my reports and must do a fix of one kind or another on at least one if not all three. Where is the oversight?

---

  I also have a 41 year credit history and when i was starting out it was a lot easier.   There were very few credit cards and no scores to worry about.  Most cards in the early days were just mailed to me.  Used some and some i did not.  Never abused the credit lines and always paid on time.  However, thanks to forums like this, the beginners and advanced as well can find useful information to help explain the do's and dont's of the credit jungle.  I still don't lose any sleep worring about my credit scores but there are here to stay so might as well stay on top of them.  Stick to the basics of credit 101 and you will never need to track your scores.  You potential creditors will do that for you.  Don't stick to the bacis and your creditors will let you know where you stand.

[vanillabean]

---

@Anonymous wrote:
i just found out that transunion will drop out (ratio of your revolving balances to your credit limits)any credit line of 30k or more!!!!!

---

Yes, that's the way it is with TU, while the EQ cutoff is higher. I have a 30sK card, for which the discrepancy was quite the mystery to sort out.

One way to find out about EX is to have zero balances on all your cards and then see how a small positive balance on the 30sK card affects the score, if you have access to it. If there's a noticeable increase, the card figures in your utilization. That's because having a small balance on one card is a good thing, while having all zero balances reflects no responsible use of credit cards and as such gives a lower score.

Also, fused, residing comfortably on the top 50 of most beloved myfico moderators of all times haha, once wrote that "I know the util cut off for the TU FICO score is the lowest (around 30K), and I'm pretty darn sure the util cut off for EQ and EX FICO scores is 50K."