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Established Member
nickf4rr
Posts: 62
Registered: ‎01-11-2013
0

Watch my FICO Score change after I PIFed everything...IN DETAIL.

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!

 

 TUEQ
CC Bal$4,787$4,787
UTI24%24%
AAoA67
Accounts1719
INQ01
Accounts w/ Bal44
New Accounts11
Credit History13.4 yrs13.4 yrs
30-Day Lates33
Most Recent Late:6 mos6 mos
Derog Accounts22
Newest Account7 mos7 mos
   
4/23/12 FICO667706
Score Simulator (assuming full payoff):707-747746-786

 

 

TransUnion Equifax 
Hurting your ScoreHelping your ScoreHurting your ScoreHelping your Score
High Credit UsageNo Serious DelinquencyRecent Missed PaymentNo Serious Delinquency
Missed PaymentsLong Account HistoryBad Payment HistoryLong Account History
Bad Payment History New AccountLow Credit Usage
Accounts with Balances

 

 

Notes:

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.

 

Observations:

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! 

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

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Regular Contributor
MonkeyBelly
Posts: 136
Registered: ‎03-06-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

Watching with interest... I am wondering how the recent 30 day lates may affect your results. 

Starting myFICOs 2013
TU:664 March --> 726 May 25
EQ: 687 on March 6 --> 772 May 25
USAA EX (FAKO): 701 March 27 --> 768 May 26
Original goal (720+ across the board) achieved!
Established Member
nickf4rr
Posts: 62
Registered: ‎01-11-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

EQ went up from 706 to 723

 

17 point gain based on:

 

Account opened: 5/2006
Description: Credit card
Amount in H/C column is credit limit
 Previously reportedNewly reported
Balance:$1,678 
Past due:$0$0
Status:Pays account as agreedLost or Stolen Card
Last activity:4/1/20134/1/2013

 

(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.)

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

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Regular Contributor
MonkeyBelly
Posts: 136
Registered: ‎03-06-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

I wonder what the scoring effect is of a card reporting as lost or stolen? Anyone know?
Starting myFICOs 2013
TU:664 March --> 726 May 25
EQ: 687 on March 6 --> 772 May 25
USAA EX (FAKO): 701 March 27 --> 768 May 26
Original goal (720+ across the board) achieved!
Established Member
nickf4rr
Posts: 62
Registered: ‎01-11-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

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.

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

Take the myFICO Fitness Challenge / myFICO Forums Common Abbreviations
Regular Contributor
MonkeyBelly
Posts: 136
Registered: ‎03-06-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

Still watching :smileyhappy:
Starting myFICOs 2013
TU:664 March --> 726 May 25
EQ: 687 on March 6 --> 772 May 25
USAA EX (FAKO): 701 March 27 --> 768 May 26
Original goal (720+ across the board) achieved!
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.


MonkeyBelly wrote:
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.

 

 

Established Member
nickf4rr
Posts: 62
Registered: ‎01-11-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

[ Edited ]

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:

 
Account opened: 5/2006
Description: Credit card
Amount in H/C column is credit limit
 Previously reportedNewly reported
Balance:$0 
Past due:$0$0
Status:Lost or Stolen CardPays account as agreed
Last activity:4/1/20134/1/2013
Account number:XXXXXXXXXXXX1446XXXXXXXXXXXX4700

 

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:

  • You opened a new credit account relatively recently.

 

My last new account was opened 9/2012.

 

So as far as PIFs left to hit the CR, I have;

 

  • CC balance of $1,982.00 to go to $0.  (Statement cut 4/23/12...so I'm not sure why it hasn't updated that one yet.  CapOne with a 30 day late baddie, so no hope for GW adjustment.)
  • CC balance of $1,125.00 to go to $0.  (This account is marked Closed by Consumer's Request - I was in a Payment Plan for reduced APR on this one.  Already closed/disappeared online)
  • Goodyear Card I honestly don't remember opening that I'm waiting to hit Contested/Fraud status because it has two 30 day late baddies.

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.)

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

Take the myFICO Fitness Challenge / myFICO Forums Common Abbreviations
Established Member
nickf4rr
Posts: 62
Registered: ‎01-11-2013
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

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)

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

Take the myFICO Fitness Challenge / myFICO Forums Common Abbreviations
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Watch my FICO Score change after I PIFed everything...IN DETAIL.

Was the lost/stolen card reissued?  Was it lost/stolen and closed with a balance?

 

If it had a balance being reported and is now 0 that could be why your score went up.


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