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Established Contributor
jordanmedical
Posts: 1,011
Registered: ‎04-08-2012
0

rebucket night mare HELP

My last collection fell off my Experian Report and my score dropped to 548. Why does rebucketing hit this hard? What can I do?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: rebucket night mare HELP

I take it by your siggy that it was a FICO score?

 

Was it a CA or a CO? If a CO, how old was it and how old was it in relation to your AAoA?

 

And this positively was your very last baddie (e.g. PR-free, CA-free, CO-free, 90+ or worse-free)?

Established Contributor
jordanmedical
Posts: 1,011
Registered: ‎04-08-2012
0

Re: rebucket night mare HELP

[ Edited ]

Yes, it was a FICO, lender pull was yesterday.

 

It was the last collection from a returned check from 7 years ago. It aged off. I haven't had any negatives in the last year.

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: rebucket night mare HELP

[ Edited ]

You mentioned "...negatives in the past year". Do you have any negatives reporting? You can only be rebucketed -IF- zero major baddies are remaining, no matter how old they are. If you have any, regardless of age, then rebucketing wasn't the cause of the drop.

 

What kind of collection was removed? A CO or a CA [e.g. the bank reporting or the CA reporting]? How old was it? I suspect an old CO was removed thereby causing length of history to change and/or AAoA drop.

 

Finally, are you certain the before score was a FICO, or even the same FICO version? If comparing a FICO with a FAKO you can see significant score differences. If you are comparing a different FICO version, like something a CC might provide after applying, then your score can be many points different.


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