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My Fico score went up 29 points today!!! But why?

New Contributor

My Fico score went up 29 points today!!! But why?

My MyFico went from 597 to 626 which puts me in a whole new bracket as far as home loans go! Anyway, the alert said that something changed on my ex-wife's car loan (I'm the cosigner unfortunately.) I've had the loan since about August of 2005. There have been 2 30 day lates (OUCH!) in March and April of last year. Anyway, I am wondering what could have changed. I can think of 2 things. Could it be that my last 30 day was a year ago this month? Although, I don't know how that could be because I haven't paid March's payment yet. I usually call when it's 25 days late to see if my ex has paid it. If she hasn't I pay it and collect on it. Here's the other possibility, I refreshed my report on TrueCredit, and on Equifax and only on Equifax the account type is listed as "Auto Loan (obsolete)." I have never noticed this before so I am not sure if it was there or not before but I don't think it was. What could "obsolete" mean?
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Moderator Emeritus

IT is possible that your accunt has reached some new 'age...


IT is possible that your accunt has reached some new 'age' bracket and the thirty day being a year most probably factored into it.  The FICO seems to like 6,12 and 24 month marks as benchmarks for good behaviour.