topic Re: 33 point score jump up to 822 in Understanding FICO® Scoring

33 point score jump up to 822

gatortrades — Mon, 04 Mar 2019 15:12:26 GMT

I received an alert for a 33 point jump to get to 822 last night, with no idea why. Checked out my latest report from January, and then updated it. The only thing that fell off was my Wells Fargo auto loan that was opened in Feb 2007 and paid off April 2012. I had a few 30 day lates, with the last 30 day late being in April 2012.

Surprising that one old 30 day late would impact the score that much. I’d been in the 770/780 range for a long time, so I guess that shows how powerful those bucket changes can be. Perfectly clean report now, and really want to pull the other 2 reports to see where all my scores are.

Also, 6% util if you’re wondering.

Re: 33 point score jump up to 822

Anonymous — Mon, 04 Mar 2019 15:42:16 GMT

That's a huge up!! Congrats. I myself had an experience where they put a wrong deliquency and I disputed it. Once it was gone, it went up at least 20 or maybe even 30 points.

Re: 33 point score jump up to 822

LionLaw — Mon, 04 Mar 2019 16:29:55 GMT

Going from having one account with late payments to no accounts with late payments will do that. I had something similar last year: my report was pristine except for a late payment on one student loan account from 2011. My scores were consistently in the low to mid 700s. When that last late payment finally aged off, my scores immediately shot up into the 800s.

Congrats on the score bump and on finally getting your report 100% clean! I know how good it feels. Enjoy it! Treat yourself to a fancy new credit card.

Re: 33 point score jump up to 822

Trudy — Mon, 04 Mar 2019 18:58:25 GMT

Congrats! You're right about the power of a lone 30 day. I think the community is coming around to see that a single 30 day late doesn't lose it's power after a few years as so many post. I should probably rephrase to say there have been several post regarding 30+ increases after a lone 30 day falls off. I received a 50 point increase when TU removed my last late early (30d). It's still there with EQ and EX. But it shows the potential jump I'll receive with those CRA once it does fall off.

Although I think TU is a drama queen. She reacts to everything. Doubt it will be that huge of a swing with EQ and EX.

Re: 33 point score jump up to 822

Anonymous — Mon, 04 Mar 2019 20:30:48 GMT

What credit monitoring service gave you the alert? Are you certain that the score in question is a FICO 8 Classic score? Which bureau was the score drawn on?

It sounds like the tradeline itself was completely deleted from the report, rather than merely the late from it. Is that right? If so, I am mildly curious whether anyone knows if that is normal. Does a closed loan (Paid As Agreed) with a Day 30 late typically get removed as an entire tradeline rather than the late falling off and the loan staying on for the remainder of the ten year period following payoff?

Not counting the auto loan that was just deleted, what is your age of oldest account? (Closed or open)

Re: 33 point score jump up to 822

gatortrades — Mon, 04 Mar 2019 21:40:05 GMT

It’s the Fico Score 8 from this myfico monitoring service. Been a member of that for a long time.

Yes, the entire trade line was removed. I think it’s because the loan was paid off and the late occurred 7 years ago. I always thought that a trade line with negative history goes away after the 7-7.5 year mark.

Oldest account now is 15 years 11 months and is a student loan.

Re: 33 point score jump up to 822

Anonymous — Mon, 04 Mar 2019 22:50:14 GMT

I know that derogs go away at 7 years but didn't know that the CRAs typically deleted the entire tradeline if it been closed. But I don't know much about that stuff. My derogs occurred back in the mid 90s. I just crawled under a rock and when I finally became willing to start look at my reports again (in 2004) the derogs had all gone away.

Since your AoOA is almost 16 it sounds like that tradeline vanishing didn't have any impact there.

Do we have on the forums many case studies of a person going from a completely clean report to one with a recent Day 30? My memory is that we do and that the reported drop is often substantial, like 60 points or may be even a bit more. If so, it sounds the Day 30 penalty does get softened over time, by about half.

Re: 33 point score jump up to 822

CivalV — Mon, 04 Mar 2019 23:49:01 GMT

I had a 45 point jump after an old late fell off. I believe it was a 60 day late.

Re: 33 point score jump up to 822

pinkandgrey — Tue, 05 Mar 2019 01:01:22 GMT

Daaaang that jump put you in the 800 club! Jealous! Congratulations!!

Re: 33 point score jump up to 822

expatCanuck — Tue, 05 Mar 2019 01:31:50 GMT

Nice!! Congrats !!

I had a comparable experience about a year ago; my score jumped at least 30 points.

Re: 33 point score jump up to 822

Anonymous — Tue, 05 Mar 2019 02:35:50 GMT

This is the third piece of data provided from a member here in the last month where they cited their score gain from a lone aged 30 day late payment going away...

Those 3 point gains reported have been 31, 41 and now 33 points.

Re: 33 point score jump up to 822

gatortrades — Tue, 05 Mar 2019 02:46:17 GMT

I was really surprised to see it happen. I figured I’d stay about the same due to it’s impact softening over time. But I think from your comment about us three members’ experiences that we can reasonably assume FICO’s methodology for this scoring version heavily weights missed payments, even if they’re 7 years old.

Lesson learned NEVER BE LATE!

Re: 33 point score jump up to 822

Anonymous — Tue, 05 Mar 2019 02:54:30 GMT

No doubt about it.

It appears that aged minor delinquencies impact score about 50% less (or carry 50% of the impact) of aged major delinquencies.

We typically see members report around 70-80 points gained when their final major delinquency comes off and it seems that a final minor delinquency is "worth" roughly half of that.