topic Re: Credit increase in Understanding FICO® Scoring

Credit increase

Dluvmj23 — Fri, 14 Oct 2022 08:06:56 GMT

How much will my fico scores increase if I get a 6 year old Co and 5 5yr lates off?

Re: Credit increase

FireMedic1 — Fri, 14 Oct 2022 08:26:32 GMT

If the lates are part of the CO. Its the CO and not the lates that does the most damage. CO's wont be deleted. Its 7yrs from the DoFD. Or the first late that led to the CO status.

Re: Credit increase

805orbust — Fri, 14 Oct 2022 10:04:23 GMT

@Dluvmj23 it is so hard to say. Every profile is different and the events contained therein cause scores to do different things. One thing I can say for sure is that a clean file with no derogatory items performs much differently. Once those items are gone and you've got good information, then it's all about utilization and on time payments and your scores go to the moon.

Re: Credit increase

Jnbmom — Fri, 14 Oct 2022 10:20:13 GMT

@Dluvmj23 wrote:
How much will my fico scores increase if I get a 6 year old Co and 5 5yr lates off?

Nobody can really advise as you are not giving enough information. We don't know what is currently on your profile, good accounts, any other negatives besides these? What are your FICO scores now?

Re: Credit increase

SouthJamaica — Fri, 14 Oct 2022 11:51:51 GMT

@Dluvmj23 wrote:
How much will my fico scores increase if I get a 6 year old Co and 5 5yr lates off?

If those are your only negatives, your scores would increase a lot.

If not, then not so much.

Re: Credit increase

Dluvmj23 — Fri, 14 Oct 2022 21:40:00 GMT

Those are my only negatives. Co that's actually 6 yrs old and lates that are 5-6yrs old not on Co.

Re: Credit increase

SouthJamaica — Sat, 15 Oct 2022 01:15:18 GMT

@Dluvmj23 wrote:
Those are my only negatives. Co that's actually 6 yrs old and lates that are 5-6yrs old not on Co.

Then you should get a great bounce.

Good luck with it.

Re: Credit increase

FireMedic1 — Sun, 16 Oct 2022 15:20:10 GMT

@Dluvmj23 wrote:
How much will my fico scores increase if I get a 6 year old Co and 5 5yr lates off?

@Dluvmj23Lates before the first late that led to the CO status will fall off. That first 30 day late that led to the CO. Ex:30,60 ,90,120,CO. That first 30 day late will end the string or the DoFD and its gone.