@Anonymous wrote:Thank you, I am getting a recent report tonight so I can start disputing whatever is wrong on there!
What is it that you are considering disputing? IMO, disputes are over used, as credit report errors are more the exception not the rule. Just my opinion, though.
@Anonymous wrote:
@Anonymous wrote:Thank you, I am getting a recent report tonight so I can start disputing whatever is wrong on there!
What is it that you are considering disputing? IMO, disputes are over used, as credit report errors are more the exception not the rule. Just my opinion, though.
I am disputing the fact that I was not late and that late payment dropeed my score from 749 to 708 which lowered my ranking. I need it removed to get my score back. Curious, what do you mean overused?
Just a reminder to please keep all replies Friendly, Supportive and Respectful. Thank you.
TryingForTheDream, I apologize if my earlier comment about the $200k+ in credit lines was confusing. What I was trying to say is that unless your repayment had caused you to slip into the pitfall of your credit cards reporting that less than 1% of all of your credit lines in total were being used, then simply reducing the balances on those cards absolutely would not in any way, shape, or form, affect your FICO scores. Ignore the $200k - let's say you had 3 credit cards, each with a $5,000 limit for a total of $15,000 in revolving credit lines. If you had total balances of $8000, you would have a big score drop for using more than 30% (rounded up to 54% in fact) of your total credit lines. If you dropped that down to $3750 (25%) you would get a big score bump, since you are under 30%. Drop those balances down to $1200 (8%) and you'll see another boost for being under 10%. However, pay the balances to 0 and you're using less than 1% of your available credit which means that lenders cannot see that you are currently managing credit by using it and paying it, so as someone not using their credit you become a higher risk than someone using very little of their credit and that is the one case where paying off credit card balances actually can and does cause a score to drop. Sorry if that was long-winded; I do that sometimes!
Wishing you the best of luck in hopefully getting that 30 day late removed. The good news is that as others have mentioned, it's not the end of the world. The effect of a single late payment will fade quickly with time if you are unable to get it withdrawn, and there may certainly be lenders willing to overlook it on an otherwise clean record.
@Anonymous wrote:1.) Yikes, was I not? I had no intention of being unfriendly. I know that I am frustrated so maybe "text" tone came off wrong? So sorry. Can you please give me an example so I do not repeat the same error?
2.) Please, be long winded, it helps a lot! This explains it better! The cards I listed on the first page of this thread are only some of mine. I have a total of 25 cards. I currently use 15% utilization total on all cards. At least that is according to the Credit Check Total $1 I just pulled. So, I guess that's why I don't understand the drop still. Should I pay more off so it goes below 10%?
3.) When you say lenders are we talking banks or online or credit unions? I am not even sure thr best route to go through with a lender.
Thanks again for your help!
Hope my clean-up doesn't get confusing without all of the context but hopefully this lands on the same page as the original post(s).
1.) My comment was generalized. No need to call anyone out by name as there was nothing too egregious here, but I can tell that you felt defensive in regard to an earlier post and this is never the type of atmosphere that we want on this forum. Things can easily devolve or a topic can get derailed if we stray too far away from the original post. No worries!
2.) The quirky thing with utilization is that any decimal point always gets rounded up. FICO scores are maximized when your total utilization is under 10%. But 9.01% gets rounded up to 10% so we usually advise to aim for 8.9% or lower around here. If you're able to pay the cards down, by all means yes pay them down especially if they are accruing interest. To even further maximize your score try to keep all individual cards under 29% and try to keep $0 balances on at least 13 of your cards (50% or more of cards having a balance is another known FICO penalty). Glad you got the CCT trial - do you see the 30 day late reporting on all 3 reports? What are the other reasons it gives you for the scores? Maybe we can help there!
3.) Any and all of the above. I think you may do well to begin a new thread over in the mortgage section of this forum mentioning that you do have a 30 day late being reported since you missed an annual fee on an unused card even though you had text alerts set up.
@Anonymous wrote:There are many factors going into scores. Fair Issac determines the scores not the 3 cb. Their scoreing in private information/trade secret
Very true, but fortunately we do have a lot of data points surround certain factors like utilization, average age of accounts, etc... to make reasonable assumptions in many cases.
@Anonymous wrote:Also, a really silly question, but how do you list your credit card icons on your signature? Thank you!!!
Click the blue My Settings link up above on a desktop (or Full mode down below on mobile to see the blue link I just mentioned), then click on Personal Information. There's a signature box. The method I use looks like this:
<img height="27" width="41" src="http://imgur.com/Unlj4hX.png" border="0" title="American Express Platinum | NPSL $35,000 Pay Over Time | December 2002">
More information can be found in this thread: http://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/td-p/2262839
@K-in-Boston wrote:
@Anonymous wrote:1.) Yikes, was I not? I had no intention of being unfriendly. I know that I am frustrated so maybe "text" tone came off wrong? So sorry. Can you please give me an example so I do not repeat the same error?
2.) Please, be long winded, it helps a lot! This explains it better! The cards I listed on the first page of this thread are only some of mine. I have a total of 25 cards. I currently use 15% utilization total on all cards. At least that is according to the Credit Check Total $1 I just pulled. So, I guess that's why I don't understand the drop still. Should I pay more off so it goes below 10%?
3.) When you say lenders are we talking banks or online or credit unions? I am not even sure thr best route to go through with a lender.
Thanks again for your help!
Hope my clean-up doesn't get confusing without all of the context but hopefully this lands on the same page as the original post(s).
1.) My comment was generalized. No need to call anyone out by name as there was nothing too egregious here, but I can tell that you felt defensive in regard to an earlier post and this is never the type of atmosphere that we want on this forum. Things can easily devolve or a topic can get derailed if we stray too far away from the original post. No worries! Ok, thank you! I always worryif I have disrespected anyone!
2.) The quirky thing with utilization is that any decimal point always gets rounded up. FICO scores are maximized when your total utilization is under 10%. But 9.01% gets rounded up to 10% so we usually advise to aim for 8.9% or lower around here. If you're able to pay the cards down, by all means yes pay them down especially if they are accruing interest. To even further maximize your score try to keep all individual cards under 29% and try to keep $0 balances on at least 13 of your cards (50% or more of cards having a balance is another known FICO penalty). Glad you got the CCT trial - do you see the 30 day late reporting on all 3 reports? What are the other reasons it gives you for the scores? Maybe we can help there! Ok, I will work on lowering the individual accounts to lower the overall as well. All it shows for negative is the recent 30D late, that's it! Shows the same scores as MyFico and that is the only negative, it says 1 negative, 1 recent (obviously the same thing
.
3.) Any and all of the above. I think you may do well to begin a new thread over in the mortgage section of this forum mentioning that you do have a 30 day late being reported since you missed an annual fee on an unused card even though you had text alerts set up. I did post over in the mortgage section and so far no responses. You all here in Credit Cards are on the ball!
@Anonymous wrote:There are many factors going into scores. Fair Issac determines the scores not the 3 cb. Their scoreing in private information/trade secret
Very true, but fortunately we do have a lot of data points surround certain factors like utilization, average age of accounts, etc... to make reasonable assumptions in many cases.
@Anonymous wrote:Also, a really silly question, but how do you list your credit card icons on your signature? Thank you!!!
Click the blue My Settings link up above on a desktop (or Full mode down below on mobile to see the blue link I just mentioned), then click on Personal Information. There's a signature box. The method I use looks like this:
<img height="27" width="41" src="http://imgur.com/Unlj4hX.png" border="0" title="American Express Platinum | NPSL $35,000 Pay Over Time | December 2002">
More information can be found in this thread: http://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/td-p/2262839
Thank you, I'll try figuring all that out.
