topic Re: Wow! I have one score that's above 700! in Understanding FICO® Scoring

Wow! I have one score that's above 700!

GFer — Sat, 11 Oct 2008 13:31:24 GMT

Updated all three after most accounts updated (or should have updated) and found my new scores as follows...

TU = 646, EX = 703, EQ = 606 Needless to say, MADE my day!

2 new accounts hit 6 months, util down from 27% to 17% (that reported)

and on 3 accounts the worst lates aged to 2yrs.

Message Edited by GFer on 10-11-2008 08:31 AM

Re: Wow! I have one score that's above 700!

Anonymous — Sat, 11 Oct 2008 14:00:56 GMT

Wow congrats! Im jealous.

I was well on my way but then my scores dropped back down to the 620ish range. Its my fault. I over used my credit card (buying stinkin credit reports no less). Its nothing that 30 days and $500 can't fix though.

Keep up the good work!

Re: Wow! I have one score that's above 700!

Junejer — Sat, 11 Oct 2008 14:24:46 GMT

Good Job, congrats.

Re: Wow! I have one score that's above 700!

tatiana — Sat, 11 Oct 2008 15:11:01 GMT

Awesome! Congratulations on your had work.

Re: Wow! I have one score that's above 700!

GFer — Sat, 11 Oct 2008 22:33:13 GMT

Thank you very much!

I honestly was just so very shocked. I really didn't expect to see my scores rebound until all (or most) of my new accounts aged to one year. With as many baddies as I have, I didn't expect that a few accounts would make a difference in anything aging. (Of course I was hoping...!)

Re: Wow! I have one score that's above 700!

marty56 — Mon, 13 Oct 2008 01:26:24 GMT

It feels great. If you can get your util to 9% or less you might see TU over 700 and as the accounts and lates age, much better.

Re: Wow! I have one score that's above 700!

GFer — Mon, 13 Oct 2008 03:21:59 GMT

Marty, I was really bumming after opening all those new accounts. But I think it'll help in the long run. Just glad I got some credit before things got so tight!

TU is running like 3 months behind on my account updates....killing my scores! I recently just did pay down my util to like 7%. So should TU decide to finally wake up, I should see 'something' anyhow. Plus I have 2 inquiries falling off, 2 aging to a year, and two baddies falling off in Nov.

Waiting....rather impatiently...

Re: Wow! I have one score that's above 700!

marty56 — Mon, 13 Oct 2008 11:59:54 GMT

Also I find that having only one CC report a balance is the best for my score. This can be a pain to manage since you have to rember which CC you used and to use rotate the other CCs.

For some reason I find that hard to do. The other option is to not worry about it and just PIF each card you use. Sometimes your score might go down do to timing but on the verage it will be okay. I dont think I am ready for this option yet since I look at my scores too much.

Re: Wow! I have one score that's above 700!

GFer — Tue, 14 Oct 2008 01:34:12 GMT

I make constant payments on my cards so that the balances never get too high. I do NOT carry balances. It took me awhile to figure out 'statement date' vs due date (guess I'm a lil' slow sometimes!). I also caught what someone had (HSU? maybe) about paying them so often, and then because I used them some more there was still a balance come the due date. I found that by paying so often, I was neglecting the 'due dates'.

So then I made sure that I had all of these entered into my spreadsheet! Don't want a late to report because of something like THAT! (or any other reason!)

Re: Wow! I have one score that's above 700!

Anonymous — Tue, 14 Oct 2008 23:07:03 GMT

I was trying to explain that to one of my friends today - she is one of those hardheaded always right type. I told her that HSBC tried to charge me a late fee on an account that I had made 7 payments on in that 28 day period. She argued with me "that's impossible" it isn't right but that doesn't mean its impossible. The way it works is I have a payment due date, lets say for simplification its on the 26th. I can make a payment on the 1st, 7th, 10th, 15th, and 22nd and since none of those dates are within 3 days of the

26th then I did not make my minimum payment on the due day and my payment is late. I don't have any of my bills with me but it has something to do with my statement date and I have no idea what that is right now. WEIRD. Its just sad that they have gotten so desperate for money that they need to be THAT technical!

Re: Wow! I have one score that's above 700!

Anonymous — Tue, 14 Oct 2008 23:51:49 GMT

I don't understand. Are you saying your statement closes the 23rd and the due date is the 26th?

I understand how payments made before the statement closes aren't counted as a minimum payment, but I don't understand how they can only leave a few days between closing date and due date. Like my statement closed Sept 16th and my payment is due Oct 15th so if I pay $20 on Sept 15th then I still owe a minimum payment by Oct 15th.

Or your statement closed say, on the 7th, and you made a payment but it wasn't counted?

Re: Wow! I have one score that's above 700!

Anonymous — Wed, 15 Oct 2008 02:06:23 GMT

No Im sorry. I don't know what my statement date or my due date are I don't have my paper work with me. I'm sure there is at least 28 days between the two. It was probably a bad analogy without the details....

It was some crazy technicality were I had made like 12 payments in a calander month and my statement date was on one of the last days of the month and all but one of them went on the previous month and the one fell 3 days outside of the actual due date (on the wrong side) so technically I was late...Totally legal but I got out of the late fee as a one time courtesy. I also changed my dates to the middle of the month..... its too easy to be on the wrong side of due when it falls a the very beginning or end of the month.