topic Re: Possible Score Increase Soon To Be? in General Credit Topics

Possible Score Increase Soon To Be?

Neches7 — Thu, 02 May 2024 20:25:30 GMT

After years of waiting for bads to fall from my reports I have 3 months left For these lates to be gone.

120 Day Late

90 Day Late

As of today my scores sit 771,761,768 What would be the chances of breaking 800 Once these fall? I have no bads left on my report but those 2, I Been sitting around letting accounts age No pulls for the last 16 Months. Also I have 1 Inquiry showing on TU... It's been a long journey for this But it's finally almost over, I've also read that once you have so many days for a bad to fall you can dispute the age of it as old? And have it removed sooner, Please correct me if I'm wrong.

Re: Possible Score Increase Soon To Be?

GZG — Thu, 02 May 2024 20:31:46 GMT

@Neches7 wrote:
After years of waiting for bads to fall from my reports I have 3 months left For these lates to be gone.

120 Day Late
90 Day Late
As of today my scores sit 771,761,768 What would be the chances of breaking 800 Once these fall? I have no bads left on my report but those 2, I Been sitting around letting accounts age No pulls for the last 16 Months. Also I have 1 Inquiry showing on TU... It's been a long journey for this But it's finally almost over, I've also read that once you have so many days for a bad to fall you can dispute the age of it as old? And have it removed sooner, Please correct me if I'm wrong.

I imaigne you will be over 800 once a 120 falls off, it hurts a ton for the entire time it's on the report

you can technically be granted an early removal for the lates, but if you're just a few months away, I wouldn't touch a thing and just let it all fall off naturally

Re: Possible Score Increase Soon To Be?

Neches7 — Thu, 02 May 2024 20:42:38 GMT

As of now my scores are rock solid in those numbers, they been the same for months now I have 8%UT and it's been this way for sometime. 3 months isn't to far way I waited 7 years But I'll take your advise and just leave it for now, I'm more Curious on how many points it's actually holding against me.

Re: Possible Score Increase Soon To Be?

GZG — Thu, 02 May 2024 21:31:15 GMT

@Neches7 wrote:
As of now my scores are rock solid in those numbers, they been the same for months now I have 8%UT and it's been this way for sometime. 3 months isn't to far way I waited 7 years But I'll take your advise and just leave it for now, I'm more Curious on how many points it's actually holding against me.

a lot, expect a sizable score bump IMO

Re: Possible Score Increase Soon To Be?

Thomas_Thumb — Fri, 03 May 2024 01:29:49 GMT

@Neches7 wrote:
After years of waiting for bads to fall from my reports I have 3 months left For these lates to be gone.

120 Day Late
90 Day Late
As of today my scores sit 771,761,768 What would be the chances of breaking 800 Once these fall? I have no bads left on my report but those 2, I Been sitting around letting accounts age No pulls for the last 16 Months. Also I have 1 Inquiry showing on TU.

What's your highest individual card utilization? Do you have any open loans on file? Is your inquiry under 12 months age?

Utilization levels are given more weight on clean scorecards. You want to hold aggregate UT under 9% and highest UT on any of your cards under 29%.

Your clean file scores should be 810 low side (assumes a deduct for no open loans, and a card UT above 29%). If you have an open loan with low B/L ratio, low revolving utilizations and no accounts under 12 months, scores should jump to the 830-840 range.

A few more account details would be helpful. Looking forward to some data points.

Re: Possible Score Increase Soon To Be?

Neches7 — Fri, 03 May 2024 01:01:50 GMT

Only accounts open are,

Mortgage.

2 auto loans.

6 Cards.

All cards have a zero balance but 1 with an 8% UT, No new account open in the last 16 months. My score card will be clean soon as those latest fall off, As of now my scores are hitting a wall and are no longer going up as they was. The 120/90 lates is what I'm thinking is stopping movement My score drops 1-3 then rises 1-3, Only thing that's changes is payments on what is owed for home and auto loans.

Re: Possible Score Increase Soon To Be?

Thomas_Thumb — Fri, 03 May 2024 22:46:16 GMT

Thanks for the additional detail. Yes, you are experiencing a dirty scorecard ceiling.

How old is the open mortgage? What are the balance to loan ratios on the loans? What are your AoOA and AAoA values?

Re: Possible Score Increase Soon To Be?

Neches7 — Fri, 03 May 2024 16:05:27 GMT

Home loan is fresh 32 months, My car will be paid off at the end of this year 9k/58k My SUV is 19/31k, With this being said my home is the highest balance I have.

Re: Possible Score Increase Soon To Be?

CreditCurious — Fri, 03 May 2024 18:45:04 GMT

I am in a very similar situation. FICO 8 scores 718, 749, 762. The 718 is from Experian, and my mortgage company only reports to my wife's EX credit score, not mine. No other terribly significant differences.

My DOFD on my 180 day derogatory is from Jan 2018 (EQ says it is from Nov 2017), so I am 7 months out unless I bother to ask for EE. No other missed payments, chargeoffs or other negative marks.

My FICO almost never changes. Last 8 months it has been unchanged for all bureaus, with the exception of one month where it dropped by approximately 12 points becuase I hit 19% utilization on a single card/12% overall (airline tickets), bounced right back when I did my normal PIF.

3 open revolvers, AoOA is 13y8m (account now closed, but still aging), AAoA is 8y4m, youngest account is 13 months. Gross credit limit $40k, typical utilization 2-5%, both collectively and individually.

1 open mortgage account, 11 years, 77% of original loan balance. No negatives.

1 closed revolver (the delinquency naturally), 2 closed car loans (paid in full, always on time).

One open inquiry, only shows on EX, 14 months old, so should not be counting against me.

It looks to me that I am on a dirty scorecard capping my score because of that old derogatory, otherwise clean history, decent age, and even when my last hard pull aged to >12 months, and my youngest account aged to >12 months, I gained no points.

I am not shopping for credit, and have no plans to do so in the foreseeable future, so credit score is mostly an matter of interest for me rather than necessity. Like OP, my guess is that I will see a sustantial jump once this old derogatory ages off. I may ask TU for EE because it sounds easy to do and precedes the other agencies by a number of months, just to see what happens. Not worth asking the other two because of their shorter lead time.

Re: Possible Score Increase Soon To Be?

Thomas_Thumb — Fri, 03 May 2024 23:01:34 GMT

@Neches7 wrote:
Home loan is fresh 32 months, My car will be paid off at the end of this year 9k/58k My SUV is 19/31k, With this being said my home is the highest balance I have.

Thanks. No 850 for you.

The mortgage is too new for that score. Your aggregate loan B/L might be a hold back as well. I'm thinking the 810-820 range for all 3 after both lates fall off. Possibly a bit higher

When exactly is the last one supposed to age off? I'm guessing 3-5 months based on your comments.

Re: Possible Score Increase Soon To Be?

Neches7 — Fri, 03 May 2024 20:38:26 GMT

I wasn't thinking it was going to be a huge jump but more of the very low 800's, I'm sure once I pay off my car I'll be dinged a bit just hope it's not to bad... Thanks for your help.

Re: Possible Score Increase Soon To Be?

SouthJamaica — Fri, 03 May 2024 21:12:57 GMT

@Neches7 wrote:
After years of waiting for bads to fall from my reports I have 3 months left For these lates to be gone.

120 Day Late
90 Day Late
As of today my scores sit 771,761,768 What would be the chances of breaking 800 Once these fall? I have no bads left on my report but those 2, I Been sitting around letting accounts age No pulls for the last 16 Months. Also I have 1 Inquiry showing on TU... It's been a long journey for this But it's finally almost over, I've also read that once you have so many days for a bad to fall you can dispute the age of it as old? And have it removed sooner, Please correct me if I'm wrong.

I think your chances of getting to the neighborhood of 800 are good, but I doubt you'll have 3 scores over 800. The lates don't have as much impact now as they did when they were newer.

It's very possible that if you send verification requests for those items, they might wind up being removed from the reports. But if I were in your shoes, I wouldn't poke the bear; you're too close to the promised land to risk mucking up your reports.

Re: Possible Score Increase Soon To Be?

Thomas_Thumb — Fri, 03 May 2024 22:58:59 GMT

@CreditCurious wrote:
I am in a very similar situation. FICO 8 scores 718, 749, 762. The 718 is from Experian, and my mortgage company only reports to my wife's EX credit score, not mine. No other terribly significant differences.

My DOFD on my 180 day derogatory is from Jan 2018 (EQ says it is from Nov 2017), so I am 7 months out unless I bother to ask for EE. No other missed payments, chargeoffs or other negative marks.

My FICO almost never changes. Last 8 months it has been unchanged for all bureaus, with the exception of one month where it dropped by approximately 12 points becuase I hit 19% utilization on a single card/12% overall (airline tickets), bounced right back when I did my normal PIF.

3 open revolvers, AoOA is 13y8m (account now closed, but still aging), AAoA is 8y4m, youngest account is 13 months. Gross credit limit $40k, typical utilization 2-5%, both collectively and individually.

1 open mortgage account, 11 years, 77% of original loan balance. No negatives.

One open inquiry, only shows on EX, 14 months old, so should not be counting against me.

It looks to me that I am on a dirty scorecard capping my score because of that old derogatory.

Not having that open mortgage show on EX could be costing you up to 30 points. I'd try to get it added even though you have closed loans to satisfy mix.

That 180 day late is likely costing you 70 points even though it is 6 years old

P.S. The 19% card utilization may not have hurt your score but, the 12% aggregate utilization sure did.

Re: Possible Score Increase Soon To Be?

CreditCurious — Sat, 04 May 2024 00:09:14 GMT

@Thomas_Thumb wrote:
Not having that open mortgage show on EX could be costing you up to 30 points. I'd try to get it added even though you have closed loans to satisfy mix.

That 180 day late is likely costing you 70 points even though it is 6 years old

P.S. The 19% card utilization may not have hurt your score but, the 12% aggregate utilization sure did.

Yes, the fact that my mortage company does not report is definitely hurting my score. That is the only difference I can see between the three agencies, other than some insignificant stuff (different reporting dates, previous hard pulls varied from agency to agency, that odd difference between EX and EQ on my DOFD). However, I emailed and called my mortgage company, plus disputed the EX score, and they said they only report it for one of the people named on the mortgage, and in my case, that is my wife.

Yes, that 180 hurts. Should drop off in a few months, and since I am not looking for credit, it does not keep me up at night either

For the 12% utilization, I debated paying down my cards before making the larger purchases, but I was curious to see how the bump in utilization would play out. Dropped for one month, then back up with all bureaus, so temporary as utilization should be. Back to my typical 2-4%, so no harm done.

Re: Possible Score Increase Soon To Be?

CreditCurious — Wed, 22 May 2024 14:46:38 GMT

I reviewed my TU report, and although the first reported delinquency was 30 days late Jan 2018, it said that the delinquency was to be removed 11/2017. I used the online dispute form to contact them, and asked them to delete based on age, or update the weird removal date.

Two business days later, the Amex credit line is completely gone. My Vantage 3 (I know...) jumped 32 points from 770 up to 802. I will wait for my credit card to report my FICO 8, which was 749 last month.

FICO should obviously go up because of removing a string of six delinquencies (30-180 days late), offsetting that I will lose my oldest account, and my AAoA is also going to drop.

Re: Possible Score Increase Soon To Be?

CreditCurious — Wed, 26 Jun 2024 15:06:39 GMT

The data is in.

My 180 day delinquency was removed (EE ) by TU about a month ago.

My TU Vantage 3.0 went from 770>802>819 over the course of a couple of weeks.

More importantly, my FICO 8 as reported by by BoA card jumped from 749 last month up to 829 this morning. A nice 80 point jump. This seems like a good data point confirming the chart I have seen on this site showing that a 180 day delinquency will depress your score by about this amount for the full 7 year period it is on your report.

My EQ and EX scores are still in the 700s, as I am not going to bother pursing EE with either of them.

Re: Possible Score Increase Soon To Be?

MissLiz — Wed, 26 Jun 2024 15:09:02 GMT

Wow, that's quite the jump! Congratulations, @CreditCurious !

Re: Possible Score Increase Soon To Be?

SouthJamaica — Wed, 26 Jun 2024 17:37:47 GMT

@CreditCurious wrote:
The data is in.

My 180 day delinquency was removed (EE ) by TU about a month ago.

My TU Vantage 3.0 went from 770>802>819 over the course of a couple of weeks.

More importantly, my FICO 8 as reported by by BoA card jumped from 749 last month up to 829 this morning. A nice 80 point jump. This seems like a good data point confirming the chart I have seen on this site showing that a 180 day delinquency will depress your score by about this amount for the full 7 year period it is on your report.

My EQ and EX scores are still in the 700s, as I am not going to bother pursing EE with either of them.

1. Thank you for coming back and updating us on this.

2. And congratulations!!! 829. Now that is sweet.

Re: Possible Score Increase Soon To Be?

FicoMike0 — Wed, 26 Jun 2024 21:16:37 GMT

Congratulations!

Re: Possible Score Increase Soon To Be?

Thomas_Thumb — Wed, 26 Jun 2024 21:54:38 GMT

@CreditCurious wrote:
The data is in.

My 180 day delinquency was removed (EE ) by TU about a month ago.

My TU Vantage 3.0 went from 770>802>819 over the course of a couple of weeks.

More importantly, my FICO 8 as reported by by BoA card jumped from 749 last month up to 829 this morning.

Nice! Report back with score updates when the late falls off EQ and EX.