topic Re: Score keeps getting lower in General Credit Topics

Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 05:18:01 GMT

I can't understand how my score keeps getting lower. I have been in the process of improving my credit for the last 6 years. I haven't paid anything late in 6 years. I have about a 3% balance on a revolveing account (because I read that is better than $0) one tax lien that has been there forever but is paid. and one collection that will be 7 years old next month...yet for the last 4 years no matter what I do my score just hovers around 610-630. recently up to 668. But this month for no apparent reason it dropped down to 636. Is there anyway to actualy get a person (from a Credit reporting agency) on the phone or to reply to an email or something to explain what else I can possilbly do? These days this FICO score seems to be the onlything anyone is interested in.. Any help or insight would be apperciated.

Re: Score keeps getting lower

wilee — Fri, 27 Feb 2009 06:11:10 GMT

What is the age of your oldest account? Baddies fall off after 7 years but at the 7 year point, the account is, in many cases, helping your report by showing a longer length of history. Having baddies fall off, can also shorten your average age of accounts...especially if you're opening a lot of new accounts to re-establish credit.

Re: Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 06:44:56 GMT

The average is 10 years. The most recent is June 2008 for a car loan. I have one collection that is from an appartment that I was on the lease (but not a resident....whole other story) it's from 2001. it shows as a revolviong (not collection)...always has. I've disputed several times and no results. I think they just verify that I was on the lease and that's that. other than that all accounts are in good standing. I have no faith in this system at all. the more effort I put into improving this number the less results I see.

Re: Score keeps getting lower

cobaltnv — Fri, 27 Feb 2009 08:52:21 GMT

I guess the first question is where did you get your scores from? That is are they real Fico scores? If they are not then the discussion is moot.

Other information that will help someone on here help understand your score change: how many cc do you have? what are the balances/cl for each? Has the %utilization changed at all over the past few months?

Re: Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 10:05:14 GMT

I get the scores from this site. So they are true FICO scores. I have 3 credit cards. about $2000 limit on each AMEX Platinum (it doesn't show up on any report) but, it doesnt seem to matter what the balance is...my score just hangs around the same figure. I have tried different balances to try an alter the score. but I pay them off each month either on full or leave $50-$20 one there. seems to make no difference. I have a Morgage that is a year old. a Car loan that is 4 years. (only about $5000 remains of the $21000) and Truck loan opened around mid 2008. I am looking to buy some investment property and just can't seem to get this !*%$ score to move...well not in a favorable direction.

Re: Score keeps getting lower

Junejer — Fri, 27 Feb 2009 15:37:14 GMT

Kyle, it seems to me that the collection is past CRTP. If this lease ended in 2001, that is past seven years. Figure out the DOFD and if past seven years, dispute it as being obsolete.

Re: Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 16:47:10 GMT

Well the lease was broken late 2001 but it did not show up until 2003. The report shows it will be there until 2010. I have disputed but with no results....I've always disputed that it is not my debt. but I think they just validate that I was on the lease and that's the end of that. but it shows as a revolving account. So every month I get stuck with a 120 day past due account....ya think it'll make a difference to be a collection and not revolving? is it possible that that one item is holding me back so much? I know people that can care less about there credit score and have better credit than me. This is frustrating because with the economy like it is...this one little number has an influence on you ability for a person to do anything now.

Re: Score keeps getting lower

Junejer — Fri, 27 Feb 2009 17:00:10 GMT

Yes, I think it's hurting your score for them to report that way. They aren't allowed to report that way.

CRTP runs from DOFD, not the first date that the thing showed up on your reports. You can probably dispute as being past CRTP, especially if you have any proof of when the lease went bad.

Re: Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 17:35:20 GMT

If it is reporting as revolving then it could be affecting your util.

I agree with Byrdman, this is likely past CRTP. At the latest, if broken in December 2001, it could remain until May 2009........but no way it could remain until 2010.

I would take a look at the re-aging thread and follow those steps. I have done it a few times and had good results.

If you have a report directly from EQ look for "DOFD" not, Date 1st major delinquency reported. On EX and TU reports directly from EX or TU, look for an estimated removal date.

Also, you mention that you pay your cards in full or leave a small balance. This is good, but are you paying BEFORE they report to the CRA each month? You have to check to see what balance is being reported. It is possible that they may report before you pay on the account each month.

Re: Score keeps getting lower

Anonymous — Fri, 27 Feb 2009 18:20:05 GMT

Well, I will keep trying. thanks for all the help. Seems like a lot of knowledge here. I'll post again if I ever see any results or just wait until 2010. whatever comes first....

Thanks again.

Kyle

Re: Score keeps getting lower

Anonymous — Sat, 28 Feb 2009 17:11:13 GMT

Now a few more questions. I looked a little furhter and on my report is says one thing that is lowering my score is high utilization. but I didn't think car loans and mortgages counted as utilization. I though it was just revolving accounts..Credit cards. I don't carry a balance on my Credit cards except for a few dollars (because I read that was the thing to do) So my question is: if I was to just pay this debt would it make a difference? It should drop the % down below..well 0%. ...or am i missing something and the car and house loans are figured into the percentage?

Re: Score keeps getting lower

Junejer — Sat, 28 Feb 2009 17:56:09 GMT

Installment util is a very minor part of the util calcs.

What exactly are your CC balances and CLs?

Card 1 495/2000
Card 2 17/1000

You get the picture.

Re: Score keeps getting lower

Anonymous — Sun, 01 Mar 2009 05:28:40 GMT

HSBC-$53/$2250 date opened 11/2003

Chevron- $0/600 date opened 10/2003

Mervyns- $0-250 date opened 9/1994

Cap One $2083/$200 this one was ex wife....should be remeoved in 3/2009 :-)

Balla Woods $1733/$1733 apartment complex shows as 120 days late (like it's a CCbut it should be a collection). 12/2003

FMC-$38000/$46000 DO 6/2008

Citi Finac-$6400/$21900 DO 8/2005

Chase auto $0/$34000 DO12/2006

BOA Mrg- $118k/$115k DO 12/2007

Tax Lien $6600. paid in 2006

EXF-637

TU-626

EXP-744 this number is from lending tree monitorin....it has alwasy been about the same as the other 2 until this month. this month the Cap one and the Ballawoods are not on the credit report. Don't know why...

But in the end of Jan 2009 I sent another dispute about the appartment. the tax lien I sent the release of lien and the Cap one....requested DV. still no reply.

Hope this helps

I like the idea of the score jumping up to 744 if the other neg's are removed. but I know that's not a FICO number. but looking at the age of these accounts not much has changed over the last year and I'm not getting anywhere. I don't apply for credit except for the cars and i don't carry a balance on the ones I do have.

Re: Score keeps getting lower

Anonymous — Sun, 01 Mar 2009 05:36:15 GMT

Correction:

BOA- $115k/$118k

Re: Score keeps getting lower

Junejer — Sun, 01 Mar 2009 05:36:45 GMT

Please clarify a couple of things Kyle. Your ex-wife's card $2083 balance with a $200 CL or $2000 CL

FMC and Citi Finac are these both car loans?

Re: Score keeps getting lower

Anonymous — Sun, 01 Mar 2009 05:52:15 GMT

yep $2083bal/$200 CL

and yes the other 2 are car loans

Re: Score keeps getting lower

Junejer — Sun, 01 Mar 2009 06:14:02 GMT

There's your answer right there, buddy. FICO doesn't like to see util at 1085%. Are you joint on that card or AU? If AU, dispute as "not mine" and get it the heck off of your reports now.

Re: Score keeps getting lower

Anonymous — Sun, 01 Mar 2009 06:25:22 GMT

I have never been able to get that one off. back when it was opened all you needed to know was a persons address, SSN, and mothers maiden name, and BAM! you got a new CC. well the ex did just that after she moved Home. with my information of course, not hers. When I dispute it they alwasy validate that it is mine. I've asked them to show just one recipt where I bought anything with that card and get no preply.....I've givien up on that one. but it should come off EXP says 3/2009 and TU says 4/2009....you really think that's been the problem? I hope your right...it'd be nice to know the light at the end of the tunel isn't a train!

What do you think about the Apt? whould it be inmy favor to settel it? or just ride it out till 2010?......Oh! and thanks again for all the help.

Re: Score keeps getting lower

Junejer — Sun, 01 Mar 2009 07:13:53 GMT

CAs aren't allowed to report like that. What ever settlement you come up with, make sure that you get a PFD out of it.

Re: Score keeps getting lower

Anonymous — Sun, 01 Mar 2009 10:29:29 GMT

Is 2003 the DOFD on the apartment complex?

Is it the OC reporting or a CA?