topic Re: Payment Status vs Payment History in Understanding FICO® Scoring

Payment Status vs Payment History

Aspireto850 — Fri, 04 Jan 2019 14:33:58 GMT

Hi All,

Help please. In credit reports does Payment Status, ie (?current pays as agreed, current was late 30 days, etc) weigh more than the 80 month history at the bottom? Do credit grantors consider both in decision making?

I ask because one of my accounts has a payment status of Current, was 30 (which is correct) but the payment history reflects all in time ( green) payments for the last 5 years. Curious minds want to know! LOL

Thanks

Re: Payment Status vs Payment History

Revelate — Fri, 04 Jan 2019 17:32:59 GMT

Tradeline data (aka a 30D late in the payment history record) is always counted by the algorithm.

Comments sometimes are or sometimes are not; Pizza1's recent datapoint suggests IIB comments for example absolutely are, but many are just human readable helpful things for UW as I understand it.

Re: Payment Status vs Payment History

Anonymous — Fri, 04 Jan 2019 19:28:55 GMT

@Revelate wrote:

Comments sometimes are or sometimes are not; Pizza1's recent datapoint suggests IIB comments for example absolutely are, but many are just human readable helpful things for UW as I understand it.

Rev, I'm not familiar with Pizza1's datapoint that you referenced. Can you explain what he saw?

Re: Payment Status vs Payment History

Revelate — Fri, 04 Jan 2019 19:40:34 GMT

@Anonymous wrote:
@Revelate wrote:

Comments sometimes are or sometimes are not; Pizza1's recent datapoint suggests IIB comments for example absolutely are, but many are just human readable helpful things for UW as I understand it.
Rev, I'm not familiar with Pizza1's datapoint that you referenced. Can you explain what he saw?

Her

But https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/25pt-increase-on-EXP-IIB-s-deleted-WHOOP/m-p/5455774#M149096

Re: Payment Status vs Payment History

Aspireto850 — Fri, 04 Jan 2019 20:06:20 GMT

@revelate

Thanks for clarifying. A few add on questions:
1. What is IIB?
2. So does that mean that payment status ( upper right of CR) is not included in the algorithm
3. Are the comments referenced the ones in the comments field such as ‘account in dispute?

Thanks

Re: Payment Status vs Payment History

Revelate — Sat, 05 Jan 2019 03:31:35 GMT

@Aspireto850 wrote:
@Revelate

Thanks for clarifying. A few add on questions:
1. What is IIB?
2. So does that mean that payment status ( upper right of CR) is not included in the algorithm
3. Are the comments referenced the ones in the comments field such as ‘account in dispute?

Thanks

1) Included in Bankruptcy

2) Correct to my knowledge

3) Yup, though @pizza1 would have to state which one hers were in but I assume it's the same one that notates disputes.

Re: Payment Status vs Payment History

Aspireto850 — Sat, 05 Jan 2019 03:43:32 GMT

Thanks @revelate!