topic Could this really be true? Scores lag info changes? in Understanding FICO® Scoring

Could this really be true? Scores lag info changes?

Anonymous — Sat, 27 Jun 2009 20:02:21 GMT

I had an account update this week...removing 2 90-day late paynments (1 about 15 months old, the other 3 years)--

My score didnt change at all. Not one point. I called MyFICO...they said it can take 7-10 days once info is changed for the calculation to show up in your score. Im pretty FICO savvy...never heard this before. Anyone else experience this? Is it really 7-10 days?

Re: Could this really be true? Scores lag info changes?

marty56 — Sat, 27 Jun 2009 21:28:34 GMT

You FICO score is calculated at the time you pull your report. Do you still have an major derogs on your report?

Re: Could this really be true? Scores lag info changes?

haulingthescoreup — Sat, 27 Jun 2009 21:47:05 GMT

Score Watch isn't real-time, if that's what you're looking at. You are going to get a delay from Score Watch, which only checks your reports periodically, but if you had coughed up for a new report (and score), it would have reflected what was on the report at that very moment.

Have you seen a separate, current EQ report that no longer shows the deleted accounts?

Re: Could this really be true? Scores lag info changes?

Anonymous — Sat, 27 Jun 2009 21:58:44 GMT

This is on a TU report I got on MyFICO. I pulled up report yesterday--derog still there...score 696. Today, pulled report....info gone....score still 696. I talked to 2 supervisors at MyFICo who said same thing....if info is changed by the lender on their own....no via a dispute....the info in report can change....but score may not for 7-10 days. I always assumed it changed instaly too.

This isnt a Scorewatch thing...I pulled full reports/scores.

Re: Could this really be true? Scores lag info changes?

smallfry — Sat, 27 Jun 2009 22:04:54 GMT

LOL. Sean I am not laughing at you. Since FICO is supposed to be a snapshot and this is clearly not the case according to the supervisors I would ask for a free pull in 2 weeks.

Re: Could this really be true? Scores lag info changes?

marty56 — Sat, 27 Jun 2009 22:06:42 GMT

Are the accounts list as in dispute or are have they been removed by the lender?.

Re: Could this really be true? Scores lag info changes?

Anonymous — Sun, 28 Jun 2009 02:47:11 GMT

No...they never were disputed. The lender saw the mistake and fixed it. Account now shows as current with no lates in the past

Re: Could this really be true? Scores lag info changes?

Anonymous — Sun, 28 Jun 2009 02:49:21 GMT

Do you still have other serious derogs on your account? Collections? Charge offs? Judgements? 90 or 120 day lates more recent than those deleted?

If so it may just be that your score isn't going to change

Re: Could this really be true? Scores lag info changes?

Anonymous — Sun, 28 Jun 2009 03:16:49 GMT

the only serious thing is a bankruptcy 6 years ago. One 30-day late nearly 2 years agooo...thats it. It's illogical that a recent 90-day late would go off and no point gain at all. And again---the MyFICO supervisor insists this happens all the time....the only way ppl catch it is if they happen to pull a report in the few days between the info changing and the score updating. Now that I look back, this helps other things I hhave seen happen make more sense. I just always assumed scores were updated the instant the information changes.

Re: Could this really be true? Scores lag info changes?

marty56 — Sun, 28 Jun 2009 11:47:11 GMT

One other thing to check is to make sure that all the accounts that were added to your BK are reporting correctly. None of them should say past due.

Another option would be to pull your TU score from Transunioncs and verify that the results are the same.

IMHO the MyFICO supervisor is wrong. Barry do you have a take on this.

Re: Could this really be true? Scores lag info changes?

Anonymous — Sun, 28 Jun 2009 12:06:27 GMT

@Anonymous wrote:
the only serious thing is a bankruptcy 6 years ago. One 30-day late nearly 2 years agooo...thats it. It's illogical that a recent 90-day late would go off and no point gain at all. And again---the MyFICO supervisor insists this happens all the time....the only way ppl catch it is if they happen to pull a report in the few days between the info changing and the score updating. Now that I look back, this helps other things I hhave seen happen make more sense. I just always assumed scores were updated the instant the information changes.

See I would say that the bankruptcy is trumping the late in terms of what it was that was having the effect on your score - that yes, had you not had the bk then that coming off would have led to gains but with the bk still there maybe it's just not going to change :/

Re: Could this really be true? Scores lag info changes?

smallfry — Sun, 28 Jun 2009 12:45:43 GMT

@Anonymous wrote:
@Anonymous wrote:
the only serious thing is a bankruptcy 6 years ago. One 30-day late nearly 2 years agooo...thats it. It's illogical that a recent 90-day late would go off and no point gain at all. And again---the MyFICO supervisor insists this happens all the time....the only way ppl catch it is if they happen to pull a report in the few days between the info changing and the score updating. Now that I look back, this helps other things I hhave seen happen make more sense. I just always assumed scores were updated the instant the information changes.
See I would say that the bankruptcy is trumping the late in terms of what it was that was having the effect on your score - that yes, had you not had the bk then that coming off would have led to gains but with the bk still there maybe it's just not going to change :/

You might be correct. I have a BK which is now well over 9 years old and it is still holding my scores down. I have had over a dozen accounts go from new to not new and have had numerous accounts turn 2 and 3 years old still no score changes at all. If the Simulator is to be believed my scores should go up 40-50 points in the next year neary 100 in 2 years. We will see.