topic Re: Best Guess FICO Projection Please in Understanding FICO® Scoring

Best Guess FICO Projection Please

Anonymous — Sun, 12 Jul 2020 14:25:17 GMT

I've worked hard on my rebuild, and it's nearing the end of that road. Naturally, I got some paid collections removed, some not. Here is a snapshot of what my next month's CRs will look like (along with current scores for bucket reference). I'm hoping some of you FICO Pros could guestimate the increase (or at least score range). Thank you so much!

Current: 2 open CCs (both 1 year old), 1 new installment (for mix points). AAoA 3.5 years. 89% util (chargeoff CCs falling off this month).

After the CRA updates, this will remain as derogs (fresh dings for recent balance updates I'm guessing):

1. Revolving "paid collection" 0/3150

2. Installment "paid" 0/960

3. Auto "paid repo" 0/8k

All from 2016, but 7/20 updates for 0 balances. Util from 89% to 5%.

Anyway, I'm just looking for probable range after update, and where that may be in 6 months.

Please help me shut my wife up about getting a mortgage 😂

Re: Best Guess FICO Projection Please

AllZero — Sun, 12 Jul 2020 14:46:17 GMT

I don't have an answer to your question.

I'll leave some links for you.

I would recommend reading the below from ABCD2199
The Truth about Credit Card Utilization
My 11 Rules to Credit Rebuilding
FICO Score: What to pay down first?

From Birdman7
General Scoring Primer and Version 8 Master Thread rev.5.17.20

Re: Best Guess FICO Projection Please

AllZero — Sun, 12 Jul 2020 14:47:10 GMT

Free mortgage scores

EX2 + 3 Bureau scores and reports for $1 at Experian or CreditCheckTotal (part of Experian). Cancel in 7 days or less to avoid the reoccurring charge.

TU4 WyHy quarterly score. Not sure on membership requirement. Maybe hard pull TU?

EQ5 Get a savings account with DCU. Soft pull EQ to be a member. Free monthly score.

You can also obtain your 3 bureau mortgage scores at . Cancel plan after you obtain your scores and reports to avoid re-occurring monthly charge.

Re: Best Guess FICO Projection Please

Anonymous — Sun, 12 Jul 2020 14:59:28 GMT

Thanks, @AllZero !

I've read those many times, and also use MyFico Premier already (see screenshot).

I'm guessing it's going to take rebucketing to really get anywhere. Speaking of (not to ninja my own thread)...does rebucketing take time, or if appropriate changes are on the CRs is it just an "instant new bucket" based on the new information?

Re: Best Guess FICO Projection Please

AllZero — Sun, 12 Jul 2020 15:09:47 GMT

@Anonymous wrote:
Thanks, @AllZero !

I've read those many times, and also use MyFico Premier already (see screenshot).

I'm guessing it's going to take rebucketing to really get anywhere. Speaking of (not to ninja my own thread)...does rebucketing take time, or if appropriate changes are on the CRs is it just an "instant new bucket" based on the new information?

@AnonymousYou are welcome.

To my understanding, there are 4 derogatory scorecards. It all depends on where you land. See reference. https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Top-score-on-a-dirty-scorecard/td-p/5309764

Re: Best Guess FICO Projection Please

SouthJamaica — Mon, 13 Jul 2020 15:06:21 GMT

@Anonymous wrote:
I've worked hard on my rebuild, and it's nearing the end of that road. Naturally, I got some paid collections removed, some not. Here is a snapshot of what my next month's CRs will look like (along with current scores for bucket reference). I'm hoping some of you FICO Pros could guestimate the increase (or at least score range). Thank you so much!

Current: 2 open CCs (both 1 year old), 1 new installment (for mix points). AAoA 3.5 years. 89% util (chargeoff CCs falling off this month).

After the CRA updates, this will remain as derogs (fresh dings for recent balance updates I'm guessing):
1. Revolving "paid collection" 0/3150
2. Installment "paid" 0/960
3. Auto "paid repo" 0/8k
All from 2016, but 7/20 updates for 0 balances. Util from 89% to 5%.

Anyway, I'm just looking for probable range after update, and where that may be in 6 months.

Please help me shut my wife up about getting a mortgage 😂

1. Your FICO 8's don't give us any information as to where your mortgage scores are at present.

2. I don't see why you feel you're near the end of the road on rebuild; it seems to me that you have a way to go.

3. If I had to guess my guess is you will be in the low 600's for awhile.