10-10-2012 08:30 PM - edited 10-10-2012 08:31 PM
We know paying off an installement loan doesn't get you much, even when it is your last remaining installment loan. I just confirmed it. My last Scorewatch alert was 9/29 for my Amex going from $0 to $264 making my 709 stay at 709. I know I have NO accounts that update after that until 3 CCs close in two more days. I just got an alert that my only remaining installment is now showing paid, which got me my ONE point. All the way from 709 to 710 - big deal. Still owe $77,933 on credit cards, though. Divorce stinks!
10-11-2012 05:22 AM
Congrats! Sometimes that 1 point is hard to come by. Good luck on paying down those CC balances, and yes, Divorces Suck!!!!
10-11-2012 07:56 PM
For guys too!
10-11-2012 08:05 PM
Congrats on paying them off. That must be a great feeling.
10-13-2012 07:44 AM
Update with the same change and its effect on CK Vantage and TransRisk:
Same exact credit report that gained me 1 point on FICO 04 based score (Beacon v5.0) made the following changes:
Vantage: DOWN 2 points to 818
TransRisk: DOWN 12 points to 749
FICO went UP and two FAKOs went DOWN.
Was it Illecs that said FAKO is as FAKO does? This is a good example.
10-13-2012 08:54 AM
llecs has been around since here since FICO used the Abacus for figuring scores. He's probably seen it all!!! lol
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO