topic Re: Achieved 800 FICO with 30-day late reporting in Understanding FICO® Scoring

Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 02 Sep 2020 14:39:01 GMT

I personally have not seen this before and I remember asking and searching about this as well. It's an interesting data point and I'm concerned it might be a fluke. Since I have not seen this posted before thought I'd post and see if this is common or not and what you think.

Woke up to an Experian alert showing a 24pt increase reaching 800 after one 30 late from 2014 was removed. Still have a 30 day late from June 2016 which I thought was very odd to reach such a boost with a relatively recent 30 day late. Was not aware you could reach 800 with derogatories present? Simulator shows 830 within 3 months as well with the same late reporting. Since this late is being disputed could it be that EX artificially suppressed it from affecting my scores even thought it's still reporting?

EQ bumped 29pts from 770 to 799 when the same late was removed. Clean report now.

TU is showing 803 with a clear report now.

Re: Achieved 800 FICO with 30-day late reporting

donkort — Wed, 02 Sep 2020 15:48:28 GMT

Your 30-day late is 4 years old; it probably has lost much of its "punch."

I have a 30-day late from TransUnion which is 7 years old. It was 800 a month ago; now, it's 799. And with a new car lease on file. I sense that it lost most of its "punch" after two years.

It would be different if it was a 60-day late and beyond.

I should update my scores: EQ: 801; TU: 799; EX: 798

Re: Achieved 800 FICO with 30-day late reporting

Trudy — Wed, 02 Sep 2020 20:50:32 GMT

Can't speak from experience but it has been noted on several other posts that dispute items are not considered while under dispute which has subsequently increased some scores at times until resolved.

In regard to point gain for removal of a 30 day, here's a post for a removal of a lone 30 day 6+years aged. Big gain (a bit of an outlier it seems) and goes on to discuss the possible score gain range as a result of a 30 day removal and the impact a 30 day could have for the full 7 years.

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Unexpected-50-pt-increase-with-Trans-Union/td-p/5460464

EDIT: I've reached 800 on each bureau with a 30D on my report.

Re: Achieved 800 FICO with 30-day late reporting

FlaDude — Wed, 02 Sep 2020 20:44:56 GMT

I had a 30 day late from August 2013 that wasn't reporting on TU, but was on EX and EQ. My EX and EQ FICO 8 scores were about 780, TU was about 810. The late dropped off EX and EQ a couple of months ago and scores went up about 30 points to be similar to TU.

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 02 Sep 2020 21:42:56 GMT

OP, it's definitely profile specific. On a thick/aged file a lone 30 day that's half way aged off is going to be a lot less meaningful than if it were present on a thin/young file. I see no reason that an 800 score wouldn't be possible if everything else was in check.

I had a 3-4 year old 90 day present on my report and due to a thick/aged file was able to grab near 770 on TU.

Re: Achieved 800 FICO with 30-day late reporting

Curious_George2 — Thu, 03 Sep 2020 01:49:30 GMT

Seems like we are all saying similar things, but I'll add my voice to the chorus.

I'm on the thick/aged scorecard with new accounts and a single 30d from 2+ years ago. All scores are around 765. First (i.e. largest) negative reason code everywhere is the delinquency. I have cards with individual Util of 50% and 40%, so those are probably costing me around 15 points. When I did some credit seeking within the past year, I lost about 20 points. Seems totally plausible that the 30d is costing me the ~30 points that @FlaDude posits, and that I'll be right around 800 when my Util is optimized and my credit seeking is unscorable.

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Thu, 03 Sep 2020 03:31:32 GMT

Congrats on the 800 club!

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Thu, 03 Sep 2020 18:24:48 GMT

Thanks for all the responses. I didn't think it was possible. Wonder now what it`ll be without that 30-day late.

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 16 Sep 2020 05:38:12 GMT

Yes congratulations and score 8 imposes additional penalties when it’s not an isolated 30 day late, so by having only one that reduced an additional penalty.

Congratulations for sure!

Re: Achieved 800 FICO with 30-day late reporting

Thomas_Thumb — Thu, 17 Sep 2020 02:54:43 GMT

@Anonymous wrote:
I personally have not seen this before and I remember asking and searching about this as well. It's an interesting data point and I'm concerned it might be a fluke. Since I have not seen this posted before thought I'd post and see if this is common or not and what you think.

Woke up to an Experian alert showing a 24pt increase reaching 800 after one 30 late from 2014 was removed. Still have a 30 day late from June 2016 which I thought was very odd to reach such a boost with a relatively recent 30 day late. Was not aware you could reach 800 with derogatories present? Simulator shows 830 within 3 months as well with the same late reporting. Since this late is being disputed could it be that EX artificially suppressed it from affecting my scores even thought it's still reporting?

EQ bumped 29pts from 770 to 799 when the same late was removed. Clean report now.
TU is showing 803 with a clear report now.

Items in dispute are not used by the Fico algorithms in scoring. An aged 30 day late will continue to impact score negatively, if being considered. The aged penalty is nominally 25 to 30 points, assuming one or two isolated lates. By my estimate, a Fico 8 score of 820 should be achievable with a 30 day late given the file is otherwise near optimal.

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 16 Sep 2020 16:06:30 GMT

I'd love to see a profile with an aged 30D and an ~820 score. This thread with the 800 reference is the highest I've personally seen thus far, but I'm sure there are other examples out there.

Re: Achieved 800 FICO with 30-day late reporting

Trudy — Wed, 16 Sep 2020 16:39:32 GMT

I looked at my history and the highest I've had with a 6y 30D was 806 on EX and 805 on EQ with AGG UTL of 13%, no IND over 20%. However, a year + before I reached 817 on EQ with 3 30Ds and 3 60Ds with 1% AGG UTL, 3 accts each with a 30D & 60D for the same months of service.

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 16 Sep 2020 19:19:19 GMT

Great info, Trudy. I would imagine that aggregate utilization threshold crossing would have been good for maybe 15 points, which would have placed you right around TTs estimate if you were optimized.

Regarding your profile at the time you had multiple 30's and 60's present, were you maxed out in terms of age of accounts factors? Did you have the boost present from an almost-paid-off installment loan at the time?

Also, are the 30's and 60's you referenced tied to one another? What I mean is that if you have a 60D present, naturally the month before would be a 30D, but that 30D doesn't really "count" as a 30D since it's really part of the 60D. Just trying to clarify if those 30's were part of the 60's, or if they were independent 30's.

Re: Achieved 800 FICO with 30-day late reporting

Trudy — Wed, 16 Sep 2020 20:10:54 GMT

@Anonymous wrote:
Great info, Trudy. I would imagine that aggregate utilization threshold crossing would have been good for maybe 15 points, which would have placed you right around TTs estimate if you were optimized.

Regarding your profile at the time you had multiple 30's and 60's present, were you maxed out in terms of age of accounts factors?
When I managed the 817 & 810 with the 30s & 60s: AoOA 22y3m, AAoA 12y4m, AoYA 1y8m also AoYRA
805 with a single 30D on EQ: AoOA 23y4m, AAoA, 11y11m, AoYA 11m also AoYRA. By this time the 30, 60D in succession was removed early.
806 with a single 30D on EX: 23y6m, AAoA 12y1m, AoYA 1y1m. By this time the 30, 60D in succession was removed early.

Did you have the boost present from an almost-paid-off installment loan at the time?
AGG was around 76%

Also, are the 30's and 60's you referenced tied to one another? What I mean is that if you have a 60D present, naturally the month before would be a 30D, but that 30D doesn't really "count" as a 30D since it's really part of the 60D. Just trying to clarify if those 30's were part of the 60's, or if they were independent 30's.
I had a 30D & 60D in succession on 3 accts and several months later a single 30D on each acct.

Edit to include pic of lates:

Re: Achieved 800 FICO with 30-day late reporting

Anonymous — Wed, 16 Sep 2020 21:37:37 GMT

Impressive

Re: Achieved 800 FICO with 30-day late reporting

KeithW — Thu, 17 Sep 2020 02:08:18 GMT

Meanwhile, I have a 30 day old from 2017, but otherwise a clean report. I have 16 CCs, a mortgage and two car loans at 0% interest. I have a 20+ year credit history. My utilization is at 36% on all cards with all but 3 under 68%. My score is in the 600s.

Re: Achieved 800 FICO with 30-day late reporting

Thomas_Thumb — Thu, 17 Sep 2020 03:47:38 GMT

@KeithW wrote:
Meanwhile, I have a 30 day old from 2017, but otherwise a clean report. I have 16 CCs, a mortgage and two car loans at 0% interest. I have a 20+ year credit history. My utilization is at 36% on all cards with all but 3 under 68%. My score is in the 600s.

Get that aggregate utilization down to 9%, all your individual card utilizations to under 29% and allow no more than 3 cards to report a balance. That may boost your score 80-100 points. As an interum step, get aggregate utilization below 29%, all cards below 49% and 5 cards max with a balance. Key metric for individual cards is the card with the highest % utilization - so don't leave one at a high level.

The impact of the late should be much less after the 5 year mark. Of course, you can write a good will letter and try to get it removed.