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What will my FICO be?

Regular Contributor

What will my FICO be?

I'm entering the fourth quarter now of my rebuild, which started in early 2013.  My scores are all around 650, although I think they will climb by about 20 points in the next couple of weeks as my utilization was very high last month and I'm now going to be down to about 20% when three cards report.

But I finally have gotten my IRS balance down below $25K, just sent the paperwork in today for a direct debit agreement.  After three months of payments, I can apply to have the lien withdrawn, which I'm reasonably confident they will do.

So right around beginning of summer, I will have no public records, an AAOA of about 8.5 years, a credit history going back 24 years.  I'll have a nice thick file, with one paid off auto loan, and two in process (one at about 40% remaining, and the other about 80% remaining).

I'll still have two chargeoffs from late 2012, and a couple of 30 days late in late 2013, but from beginning of 2014 through today, no lates at all.

Anybody venture a guess at my Fico range once the lien is removed?  I'm thinking, with very low utlization, a thick file, no serious baddies in 4.5 years and a long credit history I should be able to break through the 700 mark fairly easily and if I'm lucky get up to 730 or so...any thoughts?

24 REPLIES
Established Contributor

Re: What will my FICO be?

Well...I wouldn't dare to guess...but...

 

There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think.  I hope you break 700. Smiley Happy

 

I also have three 30-day lates from 2013. No other negatives though if that helps you to compare. 

gardening til: 02/02/2018..updated: 08/31/2017..rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 727, TU 04: 754, EX 02: 789
Goal Score (Mortgage): EQ 05: 760, TU 04: 760, EX 02: 789
Curr. Score (Fico 8): EQ: 760, TU: 770, EX: 809
Goal Score (Fico 8): EQ: 800, TU: 800, EX: 809 - Take the myFICO Fitness Challenge
Message 2 of 25
Senior Contributor

Re: What will my FICO be?

I think your assumption is reasonable.  Continue to work on negative items though, even if they are 4.5 years old.  Getting rid of them will only further push your score upward.

Message 3 of 25
Regular Contributor

Re: What will my FICO be?


LOTR wrote:

Well...I wouldn't dare to guess...but...

 

There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think.  I hope you break 700. Smiley Happy

 

I also have three 30-day lates from 2013. No other negatives though if that helps you to compare. 


Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues?  I'm curious though what your utilization, credit mix, length of history and inquiries look like?

Message 4 of 25
Regular Contributor

Re: What will my FICO be?


BrutalBodyShots wrote:

I think your assumption is reasonable.  Continue to work on negative items though, even if they are 4.5 years old.  Getting rid of them will only further push your score upward.


I haven't tried disputing in a couple of years, as it wasn't working...I suppose I can try the goodwill route...

Message 5 of 25
Senior Contributor

Re: What will my FICO be?

You want to try GW, not disputes.  Disputes are for when you feel there is inaccurate information.  If the late payments you want to ask for forgiveness, not tell the creditor that they are incorrect.

Message 6 of 25
Valued Contributor

Re: What will my FICO be?


nycfico wrote:

LOTR wrote:

Well...I wouldn't dare to guess...but...

 

There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think.  I hope you break 700. Smiley Happy

 

I also have three 30-day lates from 2013. No other negatives though if that helps you to compare. 


Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues?  I'm curious though what your utilization, credit mix, length of history and inquiries look like?


People seem to assume that there's very little impact once a late is xx years old. I am being held back by 3 lates (on student loans so across several SL accounts) from 2014 and it's a major hinderance. 

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Message 7 of 25
Community Leader
Senior Contributor

Re: What will my FICO be?


MrsCHX wrote:

nycfico wrote:

LOTR wrote:

Well...I wouldn't dare to guess...but...

 

There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think.  I hope you break 700. Smiley Happy

 

I also have three 30-day lates from 2013. No other negatives though if that helps you to compare. 


Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues?  I'm curious though what your utilization, credit mix, length of history and inquiries look like?


People seem to assume that there's very little impact once a late is xx years old. I am being held back by 3 lates (on student loans so across several SL accounts) from 2014 and it's a major hinderance. 


Hi MrsCHX.  Are all three of your lates 30-day lates?  Is it possible that one or more might be 60-day lates or worse?

 

When you say that you are being held back chiefly by these three lates, I assume that there are no other derogs of any kind.  Charge-offs, liens, judgments, collections, etc.  Is that right?

 

I admit to being surprised that three 30-day lates from almost three years ago could be causing you nearly 200 points of scoring damage.  (Your scores being EX 643 | TU 670 | EQ 628) as of this month.  It seems almost certain that something else would be going on.  For example, do you have an open installment loan that is mostly paid off?  If not, that will hurt you.  Are most of your CC balances $0?  If not, that will hurt you.  Likewise you will be hurt if your total CC utilization is greater than 8.9% or if it is 0%.  Age related factors might be hurting your score too.

 

Just observing that a lot of things besides the three old lates might be affecting your score, some of which are easy to fix.

Message 8 of 25
Established Contributor

Re: What will my FICO be?


nycfico wrote:

LOTR wrote:

Well...I wouldn't dare to guess...but...

 

There is a 50+ point difference between my EX (no tax lien) and my EQ and TU (both still have tax lien) fico 8 scores. Those charge offs are still going to be anchors to your scores, I think.  I hope you break 700. Smiley Happy

 

I also have three 30-day lates from 2013. No other negatives though if that helps you to compare. 


Wow...so three 30 day lates from 2013 are in effect costing you 70 points, assuming no other issues?  I'm curious though what your utilization, credit mix, length of history and inquiries look like?


No, my point was that given all three CBs have my three 30 day lates, the only significant difference is that the EX does not have the tax lien and that tax lien seems to be costing me a good 50+ fico 8 points (assuming other factors).

 

My credit mix, utilization (4-5%) and length of history (12-13 yrs, IIRC) - all excellent according to fico reporting...

 

I think the OP will cross 700's maybe even 720's.

 

gardening til: 02/02/2018..updated: 08/31/2017..rebuild: 02/2016 EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 727, TU 04: 754, EX 02: 789
Goal Score (Mortgage): EQ 05: 760, TU 04: 760, EX 02: 789
Curr. Score (Fico 8): EQ: 760, TU: 770, EX: 809
Goal Score (Fico 8): EQ: 800, TU: 800, EX: 809 - Take the myFICO Fitness Challenge
Message 9 of 25
Super Contributor

Re: What will my FICO be?


nycfico wrote:

I'm entering the fourth quarter now of my rebuild, which started in early 2013.  My scores are all around 650, although I think they will climb by about 20 points in the next couple of weeks as my utilization was very high last month and I'm now going to be down to about 20% when three cards report.

But I finally have gotten my IRS balance down below $25K, just sent the paperwork in today for a direct debit agreement.  After three months of payments, I can apply to have the lien withdrawn, which I'm reasonably confident they will do.

So right around beginning of summer, I will have no public records, an AAOA of about 8.5 years, a credit history going back 24 years.  I'll have a nice thick file, with one paid off auto loan, and two in process (one at about 40% remaining, and the other about 80% remaining).

I'll still have two chargeoffs from late 2012, and a couple of 30 days late in late 2013, but from beginning of 2014 through today, no lates at all.

Anybody venture a guess at my Fico range once the lien is removed?  I'm thinking, with very low utlization, a thick file, no serious baddies in 4.5 years and a long credit history I should be able to break through the 700 mark fairly easily and if I'm lucky get up to 730 or so...any thoughts?


I don't think your agreement with the IRS, or the satisfaction of the lien, will remove the lien from your credit reports.

FICO8 EQ 721 TU 747 EX 732 Total revolving credit 454000
Message 10 of 25