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