Score?

[Anonymous]

I am curious... Can the great minds that embody this forum - tell me what my score is? I see a bit of competitive nature from the super contributors and hope this proves educational for all. I will provide any and all information requested and my score at the end.

Oldest Account 17 years 10 months

AAoA - 5 years 6 months

2 open car loans, 1 down to 20% and another at 85%

1 auto loan paid

3 CC closed - paid as agreed

2 Open CC (Cap1 and Walmart) both 3 months - CL $800 and $150.

One reporting less than 10% the other at $0

1 collection - 22 months, $4K - dispute noted

No Lates

10 inq, less than a year ( 5 for auto)

No Public Records

What do you think? I would offer a prize but I imagine sharing is more than enough. I realize credit is a very serious topic for most of us here. I have read quite a few queries on how do I get to a certain score. I think a back door approach may be informative. IMO, Revelate and Jamie may have the inside track to closest to the pin on this one

[elim]

oops, missed the collection... 660

[Thomas_Thumb]

Nice age for oldest account and AAoA is decent. High ratio of open installment loans to revolving credit accounts probably not an issue based on Inverse's data. Only 2 open CCs will cost some. Not sure where your overall installment balance to loan stands - estimate 65%. Collection is quite recent - may cost 100 or more points. The QTY of recent inquiries is a flag - may cost you 30 points.

My guess is EQ Fico 8 score = 675, EQ Fico 4 = 690

[NRB525]

You had me thinking positive, in spite of the $800 and $150 cards, until the collection hit.

It's going to be something well below 700. The 660-675 range seems reasonable.

Edit: what is the status of the dispute? Do you have a letter on each bureau that is papering over that collection? If so then 700 begins to come into view. At least until that paper that is covering the collection drops off, or the collection is resolved away.

[Anonymous]

I have disputed the collection with the CBs but it has no viable or quantifiable effect on my score. I have a complaint filed with the CFPB and expect this to be removed this week. Thought the equation would be much more interesting to include...

Nice catch! I was hoping to make the wheels spin a bit faster 

[jamie123]

Well...If your 2 credit cards were 2 years old instead of 3 months old and you didn't have the collection I think your score should be about 820. Taking into consideration the young CCs and the collection I'm subtracting 90 points and saying your score is about 730.

[Anonymous]

728

[Anonymous]

Thanks to all that played!!! FICO is an interesting game... 

My score is 655.

I was also hoping to update with the collection removed but it looks like that will take a bit longer.

I filed with the CFPB and was expecting (dreaming of) a quick resolution. The CA (NCS) stated, "this matter should not be marked as past due" and NCS is investigating and will respond in full once complete. Very frustrating as there is no question the collection is not mine. CFPB stated the response will come within 60 days. Ugh

[Thomas_Thumb]

Curious, is your Fico 4 score higher than your Fico 8?

[jamie123]

Wow...I wasn't even in the ballpark!

I think it was the credit cards that threw me. This is my advice to you:

In your credit rebuilding journey you want to end up with 5 to 8 quality CCs that you can keep open for life. Having a few old open credit cards on your reports is like having your own personal gold mine of points. They will give you high scores and make your scores very stable the older they get. You NEED a minimum of 3 CCs to be able to get and maintain really high scores.

You need to wait until your collection is removed and then app for 1 more card this year. Your scores should move above 700 once the collection is gone. I would suggest apping for a Discover IT at that point. Then garden until your Cap1 and Walmart are 1 year old. Then app for 2 to 3 more quality cards like a Chase Freedom, AMEX BCE, Bank of America Rewards or Citi Double Cash come to mind. Stay away from store cards. After another 6 months to a year you can app for another 1 or 2 cards to round out your portfolio. Just sock drawer any cards that you don't want anymore and let the lender close them for non-use. It might take a lender several years to close the cards and in the mean time the sock drawered cards will be giving you good marks on your reports every month.

Make sure that you set up auto payments for the minimum monthly payment on all your CCs to ensure that you never make a late payment.