topic Re: Credit Score in General Credit Topics

Credit Score

Anonymous — Sun, 23 Aug 2009 16:42:06 GMT

I checked my TU credit score back in March and it was 616. Since then I have had no additional negative items placed or any new accounts opened. All of my accounts are up to date and have been. I pay more than the min balance on credit cards. I checked again today and it shows a score of 593. Why and how could my credit score go down and not up?

Thanks

Re: Credit Score

Anonymous — Sun, 23 Aug 2009 17:25:42 GMT

Any negative items that were update would drop your scores. If your UTIL went up then it couls also lower scores.

Was this TU a FICO or FAKO score?

Re: Credit Score

Anonymous — Sun, 23 Aug 2009 17:26:37 GMT

khart, I looked at your prior posts and someone will be along that knows far more than I but I know these questions will be asked before they can offer any help.

Are the medical collections still reporting? It was recommended that you follow the HIPAA process. Did you do that? Do you have other unresolved collections? (You only mentioned the medical.)

Have you checked your CC's for utilization? While you are paying more than the minimum but utl can kill your scores. Did you pull your report from myFico?

I suggest that you gather the above and edit your post so you can get the help you need in a timely manner.

Good Luck to you,

D-R

Re: Credit Score

Anonymous — Sun, 23 Aug 2009 19:45:32 GMT

There are several old medical collections on the account but that is it. My other 2 scores are above 600. One is 619 & the other is 630!

Re: Credit Score

jackg — Sun, 23 Aug 2009 19:57:07 GMT

khart,

You say that there have been no more negative items placed on your reports but how do you know that? Do you have current reports from all 3 CRA's that you can compare to reports from back in March? If not how could you know no changes have occured? Secondly, Do you continue to build more debt by using your CC's and exceeding the amount you make in monthly payments?

You speak about TU only but what's happening to your other scores?

Re: Credit Score

Anonymous — Sun, 23 Aug 2009 21:45:05 GMT

I did not check my other 2 scores back in March only my TU. I got all 3 this morning so I cannot say what has happened to the other 2 b/c I don't know what they were previously. I checked my credit report also & noticed no new items on there. Just recently have I used CC's and raised the balance on them.

Re: Credit Score

Anonymous — Sun, 23 Aug 2009 21:51:00 GMT

I did not do the HIPAA-I have not paid those accounts off. i understood that could only be done after the accounts were paid? & I have jsut recently started using the CC charging more than what I pay per month on them. One collection from an elec co back in 2004.

Re: Credit Score

Jazzzy — Mon, 24 Aug 2009 01:39:10 GMT

@Anonymous wrote:
I did not check my other 2 scores back in March only my TU. I got all 3 this morning so I cannot say what has happened to the other 2 b/c I don't know what they were previously. I checked my credit report also & noticed no new items on there. Just recently have I used CC's and raised the balance on them.

Hi khart...

Can I ask where you got your scores? From this site you can get your Equifax and TransUnion FICO scores. You can't buy Experian FICO scores anymore. What site did you use?

You want to make sure you are comparing apples to apples. The sites that sell 3 scores together are not selling you FICO scores. Be careful what you are buying.

Utilization on your credit cards could really be pulling your scores down. Be careful what you are charging. Add up your credit limits, and then add up the last statement balances, and let us know what your utilization percentage is. If you have any questions on how to calculate utilization, list your credit cards and balances and we can help you.

Hang in there. The work is worth it, but it is work to get it all straightened out.

Re: Credit Score

Anonymous — Mon, 24 Aug 2009 23:09:18 GMT

I have a current balance of about 2400 on a 3000 limit and a 400 balance on a 900 limit. I got all 3 scores from True Credit? My husband & I want to purchase a house in about a year and I am trying to get my scores up-his are above 700.

Re: Credit Score

llecs — Tue, 25 Aug 2009 00:14:18 GMT

The scores from TrueCredit aren't FICO scores. If you click on the scores tab within TC, they'll mention that they aren't FICO scores in the fine print at the bottom. You may want to pull your two FICO scores from here to see where you stand; they might be higher. As of this past February, it is impossible to pull your own EX FICO score.

Re: Credit Score

Anonymous — Tue, 25 Aug 2009 04:00:17 GMT

@Anonymous wrote:
I have a current balance of about 2400 on a 3000 limit and a 400 balance on a 900 limit. I got all 3 scores from True Credit? My husband & I want to purchase a house in about a year and I am trying to get my scores up-his are above 700.

Getting your utilization down will help a lot! Right now you're showing 3900 in CL's and 2800 in balances. To figure your utl, divide the balances by the CL. Your utl is at 71.8%. (2800 / 3900= 71.79) Ideally, it should be 9-10%. Start by paying those down as fast as you can and you should see a pretty good jump in your scores. You'll also save a lot in the way of interest.

D-R

Message Edited by Desert-Rat on 08-24-2009 09:00 PM

Re: Credit Score

Anonymous — Thu, 27 Aug 2009 01:08:35 GMT

Thanks for all of your help!! I plan on doing this as soon as possible!!!