topic Re: Score went DOWN and close to tears in Understanding FICO® Scoring

Score went DOWN and close to tears

Anonymous — Tue, 01 Nov 2011 23:24:51 GMT

I had 6 points to go to get my mortgage as of yesterday: Cut to this morning and I refresh my report: My score went DOWN 4 points. A credit card account in good standing that was only 5 years old that had been closed "dissapeared" from my report as of the 1st of November. Thanks MYFICO score simulator, and reporting system, for systematically DROPPING valid accounts. The fact that I have to continually pay at least once per month is indicative of the problems in this country. I HATE THIS SYSTEM AND ITS FASCIST WAYS!

Re: Score went DOWN and close to tears

Booner72 — Wed, 02 Nov 2011 02:17:08 GMT

Bummer! I'm sorry to hear this. Hopefully something else can get you where you need to be.

Re: Score went DOWN and close to tears

Ms-Kato — Wed, 02 Nov 2011 07:28:06 GMT

So sorry to hear this..Hey you can always try again ..Get another CC and reapply for the mortgage in a few months.

I know that's not what you want to hear but it's not the end and YOU WILL GET YOUR HOUSE !

Stay Strong..We are rooting for you .

Re: Score went DOWN and close to tears

llecs — Wed, 02 Nov 2011 14:33:18 GMT

@Anonymous wrote:
Thanks MYFICO score simulator, and reporting system, for systematically DROPPING valid accounts. The fact that I have to continually pay at least once per month is indicative of the problems in this country. I HATE THIS SYSTEM AND ITS FASCIST WAYS!

How did the MyFICO score simulator drop your account?

Re: Score went DOWN and close to tears

Anonymous — Wed, 02 Nov 2011 15:09:41 GMT

Remember, too, (and I'm sure you already know) that most mortgages (all that I've seen) look at all three FICO scores and run with the middle score.

Re: Score went DOWN and close to tears

Anonymous — Wed, 02 Nov 2011 21:12:36 GMT

Thanks everyone. Kind of ranting last night. Upset and drank too much wine! )

To answer the questions, since my TU 98 score from this site isn't the same as what my lender uses, I can't rely on that. Since I don't have my Experian score, I can't rely on that. The only reliable score of the 3 is Equifax and I want that to be over 640.

The score simulator didn't make my score go down obviously, but rather the predictions have never been very reliable.

I am resigned to my fate. Obviously I will have to wait a little longer to get my mortgage. This is my life. I didn't marry very well, did I? lol.

thanks to all for the help & support.... )

Re: Score went DOWN and close to tears

haulingthescoreup — Fri, 04 Nov 2011 01:25:37 GMT

Equifax is notorious for dropping closed accounts before 7 years.

And not a thing in the world you can do about it, either.

Re: Score went DOWN and close to tears

Anonymous — Fri, 04 Nov 2011 14:33:08 GMT

That is ridiculous that Equifax is wantonly "allowed" to simply drop accounts before the time period that is mandated by law. What a crock!

Re: Score went DOWN and close to tears

llecs — Fri, 04 Nov 2011 16:42:03 GMT

@Anonymous wrote:
That is ridiculous that Equifax is wantonly "allowed" to simply drop accounts before the time period that is mandated by law. What a crock!

The FCRA doesn't mandate that positive TLs report up to 10 years. In fact (trust but verify) the FCRA doesn't place any limit or requirement on positive accounts, though it is customary to remove by 10 years.

From time to time positive accounts to drop early. Did you dispute any of these? That'll often lead to an early demise.

Re: Score went DOWN and close to tears

Anonymous — Fri, 04 Nov 2011 18:17:45 GMT

I have never disputed any positive accounts. This makes the 14th account that Equifax isn't reporting despite requests from the original creditors to re-report them. Not very good business in my opinion.

Re: Score went DOWN and close to tears

Ms-Kato — Fri, 04 Nov 2011 23:09:20 GMT

@Anonymous wrote:
I have never disputed any positive accounts. This makes the 14th account that Equifax isn't reporting despite requests from the original creditors to re-report them. Not very good business in my opinion.

Same here..

Example..EX shows 13 of my good tradelines going all the way back to 1998 . EQ and TU doesn't go back to 1998 so I have less good tradelines. I also

found that EQ and TU will delete negatives way quicker than EX.

Re: Score went DOWN and close to tears

haulingthescoreup — Sat, 05 Nov 2011 03:52:39 GMT

Do you pull your EQ report often? (Many do, for varying reasons.)

EQ reports are particularly fragile. Their files can split due to the presence of lots of soft inqs. IMO, this is also behind the early demise of old, closed accounts.

They don't have much file space, and when files fill up with softs, other stuff gets bumped off. No pun intended.

But some people also lose closed accounts even when they don't pull their reports that often. Happened to me.

Re: Score went DOWN and close to tears

wednesdayaddamsd — Sat, 05 Nov 2011 11:11:13 GMT

I wouldn't say I pull my report "often" but now I will be much more conscious of this in the future. I have no trouble with TU and EX reporting good accounts. I too have accounts going back to 1997 that were paid through 2005, so at the very least, I should have payments reporting through the date in 2012. Equifax just refuses to report them.

As far as losing any "negative" accounts, ha ha ha. Of course the only accounts that they drop are the perfect accounts! They desperately hang on to every single bad account as if they were hanging from a cliff and holding on to the negatives for dear life.

Gosh, I'm getting pretty jaded with this whole process. I just want to get my mortgage already and move on!

What kind of experience have you had with negatives dropping Bluerain? Do you mean just dropping off a few months earlier than scheduled or something?

Re: Score went DOWN and close to tears

Anonymous — Sun, 06 Nov 2011 22:59:04 GMT

I just noticed that Experian has also dropped several accounts over the past year after reviewing my credit report today. However, EX has only deleted bad accounts. Ha ha ha. So I guess maybe some good has evened out the bad.

In any event, thank you to everyone who replied. Sometimes I feel like I'm never, ever going to buy a house and my score is never going any higher. I keep telling myself that it will, but boy, it's hard to believe.

Re: Score went DOWN and close to tears

cashnocredit — Mon, 07 Nov 2011 05:50:35 GMT

I have an old CC account that will be closed for 10 years in 2 months. It's still reported on all three. Perhaps it's because it states "closed by credit grantor" lol.

Re: Score went DOWN and close to tears

Anonymous — Mon, 07 Nov 2011 16:36:11 GMT

Yeah. Equifax is a little, um, variable.

I have several accounts that have aged off early, and several that are coming up on their ten year mark and still reporting. I even have some that should be gone and are hanging on.

That being said, I have the same thing to some degree on the other two CRA's as well. Sometimes it's like clockwork, sometimes things are off early, sometimes late. I just glory in the times when it works in my favor.

Go figure.

Re: Score went DOWN and close to tears

Anonymous — Mon, 07 Nov 2011 16:57:14 GMT

Well, Experian has dropped a total of 11 negatives, including two judgments that are now gone from all 3 reports...None were more than 4-5 years old so I am LOVING it. )

Still mad @ Equifax tho!!

Re: Score went DOWN and close to tears

Ms-Kato — Mon, 07 Nov 2011 18:36:07 GMT

@wednesdayaddamsd wrote:

What kind of experience have you had with negatives dropping Bluerain? Do you mean just dropping off a few months earlier than scheduled or something?

I'm talking about the ones I disputed..

EQ dropped 2 negatives but they don't have all my good tradelines listed and I have 13 of them and after checking today I notice they only list 6 of them. I thought

it was 8 .

Transunion dropped 1 negative so far and list 10 positives.

EX list all 13 positives but they also list all the negatives..even the ones i disputed and won with the other CRA's.

What I don't like is if you pay for years and years on time every month and if you are

late just one time they throw it in the negative bucket ! How about some points for paying on time every month

for years !

3 negatives will be dropping on their own in 5 months /6 months and 1 year.

I have so many disputes in with all the CRA's it's hard to keep track and I'm always pulling EQ and EX everyday and have to constantly

print copies and compare..it's a job in itself .

I need to get a hold of an updated TU report and hoping I get my sign in info today for another service I signed up for. Daily pulls

for all 3 CRA's so I can save money and not have to pay EQ n EX every month even tho their service rocks with updates !

I have TU quarterly with myFICO but I can't wait every 3 months for my report. I need to know what's going on everyday if

I want to buy a house anytime soom. At least with my new Walmart card I can get my free FICO score every month and daily

pulls at the other service.

My new walmart card posted to EQ n EX and recieved alerts from EQ n EX today..I know my score dropped a point or 2 and haven't recieved a

score alert fron SW (Scorewatch) ..go figure.

Re: Score went DOWN and close to tears

Ms-Kato — Mon, 07 Nov 2011 18:38:49 GMT

@Anonymous wrote:
Well, Experian has dropped a total of 11 negatives, including two judgments that are now gone from all 3 reports...None were more than 4-5 years old so I am LOVING it. )

@Still mad @ Equifax tho!!
The 11 negatives that were dropped...were they dropped because the SOL was up or did you dispute them?

If you disputed them did u dispute online or via mail ?

Thanks

Re: Score went DOWN and close to tears

Anonymous — Mon, 07 Nov 2011 20:23:21 GMT

Hi Blue,

The negatives that dropped off Experian were not disputed. They just fell off sometime this year between January and yesterday. The two judgments that I had I did dispute to read IIB with all 3 bureaus after I filed BK7 last year, however, although Equifax and Transunion just deleted these judgments when I disputed them, Experian did not drop them at the time, they just changed the status to zero balance and left them on, but at some point, for some reason, they ended up just dropping off anyway this year. The judgments occurred in 2009 so I don't know why they disappeared, but I ain't complainin' !!!

Cool huh!