04-23-2013 09:34 PM
I just paid off every TL I got! I'm keeping a small balance on one card, but while those changes take hold...want to see what this does to my scores?
I pulled EQ and TU today from myFico. Will pull future reports and report back the differences as I get SW alerts:
If you want me to provide additional details, I'll do so gladly, just let me know what to edit in!
|Accounts w/ Bal||4||4|
|Credit History||13.4 yrs||13.4 yrs|
|Most Recent Late:||6 mos||6 mos|
|Newest Account||7 mos||7 mos|
|Score Simulator (assuming full payoff):||707-747||746-786|
|Hurting your Score||Helping your Score||Hurting your Score||Helping your Score|
|High Credit Usage||No Serious Delinquency||Recent Missed Payment||No Serious Delinquency|
|Missed Payments||Long Account History||Bad Payment History||Long Account History|
|Bad Payment History||New Account||Low Credit Usage|
|Accounts with Balances|
2 30 day lates (4/2011 and 11/2011) are on an old TL that has had a zero balance since 2011. Working on GW.
1 30 day late (10/2012) was on a CapOne account that is my active CC with a target UTI of 5%. Gave up on GW letters.
NO OTHER BADDIES! (Lots of accounts "Closed by Credit Grantor" though....)
My EQ report has only 1 HP for Sprint/Nextel. I have 5 HPs (12/12, 9/12, 6/12, 3/12, 8/11) on my EX report.
EQ has a Discover Card (5/2000 to 9/2005, 1500 CL, Closed by Grantor) and a Utility Account (4/2007 to 7/2007, 30 HB) that TU doesn't.
The myFico "Understanding Your Score" lists my 24% UTI as "Helping my score" on the EQ side and "Hurting your score" hurting it on the TU side, even though the utilization is the same!
04-24-2013 07:03 AM
Watching with interest... I am wondering how the recent 30 day lates may affect your results.
04-26-2013 02:55 PM
EQ went up from 706 to 723
17 point gain based on:
|Previously reported||Newly reported|
|Status:||Pays account as agreed||Lost or Stolen Card|
(Just FYI - I called and asked for a new card since I tore up the old one a long time ago...they apparently took this as Lost/Stolen.)
04-27-2013 04:58 PM
04-27-2013 05:38 PM
That's actually a really good question...I'm assuming the score drop was entirely on account of paying off that card...but now that I think about it, they may be assuming something else with the scoring model. /me goes to search the forums for more on this.
04-27-2013 08:02 PM
04-27-2013 09:12 PM
I wonder what the scoring effect is of a card reporting as lost or stolen? Anyone know?
A lost/stolen card is usually counted as another account. If there were lates, they are still reported and factored in, along with a balance, if there was one. In essensence you will be dinged twice for all negatives.
However, they generally only report for about 2 years.
04-27-2013 09:13 PM - edited 04-27-2013 09:29 PM
EQ went up from 723 to 738
Note: This is the same card as was reported on the last SW update a few days ago...no other TLs have reported $0 balances.
15 point gain based on:
|Previously reported||Newly reported|
|Status:||Lost or Stolen Card||Pays account as agreed|
|Your FICO® score has gone up to 738 on April 27, 2013.|
|Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:|
My last new account was opened 9/2012.
So as far as PIFs left to hit the CR, I have;
Once SW tells me these are clear/reported I'm going to go ahead and report the score, pull my three credit reports--and then APP for that AMEX I want!!! (If I get rejected for that, I'll just APP for whatever I can get.)
04-27-2013 09:18 PM
This account went from Lost/Stolen back to Pays as Agreed in the span of a few days...see my last post. Do you think that has anything to do with the score increase? (I'm in the middle of a score climb due to going from 24% to ~1% UTI)
04-27-2013 09:24 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.