topic Re: CO finally off TU--still on EQ in Rebuilding Your Credit

CO finally off TU--rebucketed :( 18 pt loss

Duncanrr — Sat, 28 Jul 2012 16:19:00 GMT

My Entergy CO was removed today from my TU report. No idea what this did to score. CO is still on EQ-damn buggers!! I just got my scores on 7/26 so I don't want to reorder them. But damn I'm curious if this bumped me over 700 (685). Edit: damn. I lost 18 pts. Now score is 667

Re: CO finally off TU--still on EQ

Duncanrr — Sat, 28 Jul 2012 15:35:04 GMT

Hmm. According to CreditKarma, my Transrisk dropped 40 pts today to 623 and my Vantage dropped 11 to 640. Damn, I don't want to get another report but a 40 pt drop from a CO removal?? USAA FAKO is unchanged at 657.

Re: CO finally off TU--still on EQ

jcstarkey8826 — Sat, 28 Jul 2012 15:44:17 GMT

this is what I was talking about the rebucketing thing. Not saying thats what happened, but that sounds like what happens to other people. Something good changes and then youre in another category with better scores so it makes you look worse. the category you were in before was with people with bad scores, so yours are rated better compared to them, but when you go into the next bracket, you dont look as well compared to the better scores and you drop. I find it to be a stupid concept, but what can we do?

Hopefully thats not what happened, just saying what couldve happened.

Re: CO finally off TU--still on EQ

Duncanrr — Sat, 28 Jul 2012 15:50:51 GMT

I only have one CO left on report now from 3 years ago. I've removed 3 CA's and 1 CO's from TU. I've got an old auto with 120 day late scheduled to drop off report 8/2012 and cap1 to start reporting to TU so I wanted to wait for that. But this FAKO drop has me nervous.

Re: CO finally off TU--still on EQ

jcstarkey8826 — Sat, 28 Jul 2012 15:53:43 GMT

Fakos mean absolutely nothing, but if your fico has a similiar drop with no other changes, Id assume you were rebucketed my friend.

Re: CO finally off TU--still on EQ

Duncanrr — Sat, 28 Jul 2012 16:12:08 GMT

@jcstarkey8826 wrote:
Fakos mean absolutely nothing, but if your fico has a similiar drop with no other changes, Id assume you were rebucketed my friend.

Yup. Rebucketed. No other changes to report and myFICO score droped. Lost 18 pts!!!! Now 667

Re: CO finally off TU--still on EQ

jcstarkey8826 — Sat, 28 Jul 2012 16:33:07 GMT

well, its a good thing overall though! congrats on getting it removed, but hey! youre moving on up now

Re: CO finally off TU--still on EQ

Duncanrr — Sat, 28 Jul 2012 16:43:48 GMT

Thanks. The only other charge off I have on report is Verizon which is still showing under dispute tag. My guess is TU is treating my credit report as having no CO. The only derogs I have are lates sans that CO from Verizon.

Re: CO finally off TU--rebucketed :( 18 pt loss

calihlove75 — Sat, 28 Jul 2012 16:59:54 GMT

I don't quite understand this whole rebucket thing, but when I called customer service andf talked to a supervisor about issues I am having with alerts he had made a comment that I went into a different bracket. Has me wondering if he knows this or just assumed. Do Fico employees know?

Re: CO finally off TU--still on EQ

MarineVietVet — Sat, 28 Jul 2012 19:27:45 GMT

@Duncanrr wrote:
I only have one CO left on report now from 3 years ago. I've removed 3 CA's and 1 CO's from TU. I've got an old auto with 120 day late scheduled to drop off report 8/2012 and cap1 to start reporting to TU so I wanted to wait for that. But this FAKO drop has me nervous.

You won't be rebucketed until the last negative on your reports is gone.

Re: CO finally off TU--still on EQ

calihlove75 — Sat, 28 Jul 2012 20:24:38 GMT

@MarineVietVet wrote:
@Duncanrr wrote:
I only have one CO left on report now from 3 years ago. I've removed 3 CA's and 1 CO's from TU. I've got an old auto with 120 day late scheduled to drop off report 8/2012 and cap1 to start reporting to TU so I wanted to wait for that. But this FAKO drop has me nervous.
You won't be rebucketed until the last negative on your reports is gone.

Does it happen as the last collection falls off or is it a change that you would notice on future changes to your report. I mean I had my last collection drop result in a increase. Now that I am completely baddie free will I notice bigger decreases in score with higher utilization or inquiries, etc?

Re: CO finally off TU--rebucketed :( 18 pt loss

Duncanrr — Sat, 28 Jul 2012 22:16:43 GMT

My last negative, other than lates, is under dispute. Nothing other than removal of old CO changed in report. Other than rebucket, explain cause for 18pt drop?

Re: CO finally off TU--rebucketed :( 18 pt loss

DaveSignal — Sat, 28 Jul 2012 23:15:01 GMT

Did AAoA drop when it was removed?

I mean, was this one of your older accounts on your credit report? If so, your AAoA took a hit when you removed it.

Re: CO finally off TU--still on EQ

MarineVietVet — Sat, 28 Jul 2012 23:52:27 GMT

@calihlove75 wrote:
@MarineVietVet wrote:

You won't be rebucketed until the last negative on your reports is gone.
Does it happen as the last collection falls off or is it a change that you would notice on future changes to your report. I mean I had my last collection drop result in a increase. Now that I am completely baddie free will I notice bigger decreases in score with higher utilization or inquiries, etc?

Once you are rebucketed you are being compared to others who have basically the same credit profile as you but their information is a bit older; thus they're likely to have a better score.

As your profile ages you move up the ladder in your new group. Any future negatives should be avoided like the proverbial plague.

But don't overthink any of this. Do all the right things, i.e. always pay on time, keep your revolving utilization properly managed, don't apply for credit you don't need, etc. and your score will be just fine and continue to improve.

Try to look at rebucketing as a glass half full situation. It means your credit situation has improved and in the long run this will help you.

Re: CO finally off TU--rebucketed :( 18 pt loss

MarineVietVet — Sat, 28 Jul 2012 23:56:02 GMT

@Duncanrr wrote:
My last negative, other than lates, is under dispute. Nothing other than removal of old CO changed in report. Other than rebucket, explain cause for 18pt drop?

I agree with Dave that it could be the result of the CO being removed. If it was one of your older reporting accounts then when it was gone your AAoA and credit length history were affected.

Plus disputes can have a temporary impact on scores. Portions of an OC account under dispute will not be scored by FICO. Among these are the balance, the CL, and the payment history. Other items like AAoA, scoring bucket, credit mix, account age, etc. including CAs and PRs are not removed or impacted by a dispute.

Re: CO finally off TU--rebucketed :( 18 pt loss

Duncanrr — Sun, 29 Jul 2012 00:28:11 GMT

My oldest account is still 15 years and my AAoA is still 10 years. One thing I did see was that the section that lists things influencing your score I have a new negative. It says I have too many accounts with balance. I still have exactly the same accounts and accounts with balance except the removal of the CO. I have two SL, car note and one cc with balance. Before deletion I had the same accounts with balance but the CO was reporting a zero balance. Could it be that that I no longer have account with zero balance? My cap1 card has zero balance but not reporting to TU yet.

Re: CO finally off TU--rebucketed :( 18 pt loss

MarineVietVet — Sun, 29 Jul 2012 00:36:38 GMT

@Duncanrr wrote:
My oldest account is still 15 years and my AAoA is still 10 years. One thing I did see was that the section that lists things influencing your score I have a new negative. It says I have too many accounts with balance. I still have exactly the same accounts and accounts with balance except the removal of the CO. I have two SL, car note and one cc with balance. Before deletion I had the same accounts with balance but the CO was reporting a zero balance. Could it be that that I no longer have account with zero balance? My cap1 card has zero balance but not reporting to TU yet.

It might be that. In the FICO Risk Score Reason Codes there is a ding for "too many accounts with balances." Or it could be because of the dispute.

But you might not ever really know the reason. Sometimes there is no clear answer.

Re: CO finally off TU--rebucketed :( 18 pt loss

Duncanrr — Sun, 29 Jul 2012 00:42:35 GMT

The dispute flag has been on there since rebuild started two months ago. I don't think it's the flag. I thinks it's the zero balance thing. My SW just sent me alert that cap1 added to EQ so it should be posting on TU next week. If score bounces back then it's the account thing. One other question, my BB&T will drop off report next month. Will that occur at start or end of month?

Re: CO finally off TU--rebucketed :( 18 pt loss

MarineVietVet — Sun, 29 Jul 2012 00:46:57 GMT

@Duncanrr wrote:
The dispute flag has been on there since rebuild started two months ago. I don't think it's the flag. I thinks it's the zero balance thing. My SW just sent me alert that cap1 added to EQ so it should be posting on TU next week. If score bounces back then it's the account thing. One other question, my BB&T will drop off report next month. Will that occur at start or end of month?

That's something I can't answer. It could be anytime during the month.

Re: CO finally off TU--rebucketed :( 18 pt loss

calihlove75 — Sun, 29 Jul 2012 01:49:29 GMT

@Duncanrr wrote:
My oldest account is still 15 years and my AAoA is still 10 years. One thing I did see was that the section that lists things influencing your score I have a new negative. It says I have too many accounts with balance. I still have exactly the same accounts and accounts with balance except the removal of the CO. I have two SL, car note and one cc with balance. Before deletion I had the same accounts with balance but the CO was reporting a zero balance. Could it be that that I no longer have account with zero balance? My cap1 card has zero balance but not reporting to TU yet.

I also have that message saying too many accounts with a balance now that my collection is gone. It did not say that before and nothing else has changed.

lol I think we are in the same bucket!!!!!!!!!!!!!!!!