topic Re: Can I see 740 with charge offs? in Rebuilding Your Credit

Can I see 740 with charge offs?

josie — Sun, 20 Dec 2020 23:14:22 GMT

Has anyone Fico scores went over 740 with charge offs still reporting with (all of mines have a zero balance) or without a zero balance? Just inquiring, because if my scores will not be going much higher I will just cancel my monthly subscription. Will just pull my report with scores every 6 months instead of paying a monthly bill.

Re: 740 with charge offs?

Anonymous — Sun, 20 Dec 2020 23:14:21 GMT

@josie wrote:
Has anyone Fico scores went over 740 with charge offs still reporting with (all of mines have a zero balance) or without a zero balance? Just inquiring, because if my scores will not be going much higher I will just cancel my monthly subscription. Will just pull my report with scores every 6 months instead of paying a monthly bill.

Congrats on getting over 700 with COs!

I can only hope for the same!

Re: 740 with charge offs?

OmarGB9 — Sun, 20 Dec 2020 23:44:28 GMT

I too am curious as to the answer. I'm hoping to just hit 700 soon. lol

Re: Can I see 740 with charge offs?

rostrow416 — Sun, 20 Dec 2020 23:50:57 GMT

I'm not sure when my scores passed 740 (or if they did with COs still showing) but I have one remaining CO showing only on EX (Discover - due to drop off Dec 2021) and my FICO 8 is 737 with 18 inquiries and 6 new accounts this year.

I'm pretty sure that if I had few inquiries I would be over 740.

Re: Can I see 740 with charge offs?

simplegirl — Sun, 20 Dec 2020 23:55:37 GMT

Is the discover reporting a balance still?

Re: Can I see 740 with charge offs?

toomchz4u — Mon, 21 Dec 2020 00:19:32 GMT

Maybe its possible but it seems mines capped off in the 720's. Everybodys file and circumstances are different. My last derog just fell off experian last month and my score shot up from low 700's to 788. Good luck!!!

Re: Can I see 740 with charge offs?

josie — Mon, 21 Dec 2020 00:40:56 GMT

My charge offs falling off:

12 school loans (120 days late) 2022

2 Amex and 2 chase 2023

2 Comenity 2024

2 BoFA 2025

This is the reason why I'm asking because if it is impossible to get over 740 with charge offs. I won't get there until February of 2025.

I'll cancel my subscription and pull my next report on New Year's Day and then just wait.

Re: Can I see 740 with charge offs?

Anonymous — Mon, 21 Dec 2020 00:57:30 GMT

@josie wrote:
My charge offs falling off:
12 school loans (120 days late) 2022
2 Amex and 2 chase 2023
2 Comenity 2024
2 BoFA 2025
This is the reason why I'm asking because if it is impossible to get over 740 with charge offs. I won't get there until February of 2025.
I'll cancel my subscription and pull my next report on New Year's Day and then just wait.

Hinestly, hitting 700s with 20 derog accounts (paid or not) is darn impressive!

SO went down from 20 derogs (CAs/COs/defaulted SLs) to 8 (SLs/COs) and hit 654 and his are almost aged out (2021). So whatever you are doing, you are doing it right!

I had over 30+ derogs (SLs/CAs and no COs) and now down to 20+ derogs (SLs/CAs), also due to age out 2021, and can barely scrape 600 and still sub-600 on 1 bureau.

I feel COs are much more forgiving than CAs, especially since CAs put you on a PR scorecard.

Re: Can I see 740 with charge offs?

OmarGB9 — Mon, 21 Dec 2020 01:06:01 GMT

@josie wrote:
My charge offs falling off:
12 school loans (120 days late) 2022
2 Amex and 2 chase 2023
2 Comenity 2024
2 BoFA 2025
This is the reason why I'm asking because if it is impossible to get over 740 with charge offs. I won't get there until February of 2025.
I'll cancel my subscription and pull my next report on New Year's Day and then just wait.

Why is it so important to get to 740? Just wondering. 720+ is already a really good score for most credit products.

Re: Can I see 740 with charge offs?

josie — Mon, 21 Dec 2020 01:15:28 GMT

Was just asking because I'm paying a monthly subscription to monitor my increases, but if I got this far don't see how much more it would increase with the charge offs so no reason to monitor monthly just bi-annually.

Re: Can I see 740 with charge offs?

spiritcraft1 — Mon, 21 Dec 2020 01:25:28 GMT

My Wife has one small paid CO on EX and she is at F08 742 and I don't think it is going higher until it falls off EX in a couple months. Since having only a couple paid CO's reporting, It has been a slow rise from 710 or so. This last derog is a $100 paid CO. TU had been about the same until that same last derog fell off. Her TU 08 rose to 810 with a clean report instantly.

Re: Can I see 740 with charge offs?

Anonymous — Mon, 21 Dec 2020 04:47:42 GMT

The highest scores I've seen with multiple [aged] majors present on a CR are 760-770 on Fico 8s. Those are definitely outliers though and a thick/aged file that's otherwise optimized (AZEO, installment loan, few if any inquiries, etc).

Re: Can I see 740 with charge offs?

josie — Mon, 21 Dec 2020 10:28:59 GMT

Hi thank you all. Well my charge offs are fairly recent not due to age off until 2023-2025. My Aaoa is 12 years on TU and EQ and 8 on EX. 3 accounts opened in under a year. 5 active revolving accounts and 6 installment loans due to close within a year. Inquires on TU 12, EQ 7 and EX 8 all under a year. Will be adding one more inquiry this week with my local credit union, need a car. Then its in the garden for me for at least a year then hopefully a mortgage looking at 2022.

Oh and have been doing AZEO.

Re: Can I see 740 with charge offs?

gdale6 — Mon, 21 Dec 2020 17:20:12 GMT

There was one report some time back of a 759 with a BK7 about to fall off, the COs were long gone but the BK does have the same effect as a CO. I personally was at 739 2 months prior to my BK7 dismissed scheduled to fall off, got an EE on it and it soared to 805.

Re: Can I see 740 with charge offs?

DebtJoe — Mon, 21 Dec 2020 19:36:06 GMT

Don't believe so, at least not in my case.

With 1% utility and AZEO, my scores pretty much topped out at 703ish across the board. It was only until my last charge off fell this past month that my scores went up significantly.

I am still stuck with lates for another 3 years on an old car loan (Honda won't budge), so I don't imagine I'll be flirting with anything higher than I currently have now.

Re: Can I see 740 with charge offs?

Abelcrdn — Wed, 23 Dec 2020 15:35:12 GMT

Yes it's Possible! I had my last derog removed from my TU & EQ on Monday. Experian is still showing two negative. 1 for Affirm $498 and 1 for Barclays $497. Both are reporting in accurately as I was a victim of ID Theft and have been disputing with the proper documentation.

Re: Can I see 740 with charge offs?

josie — Wed, 23 Dec 2020 15:44:24 GMT

Thanks everyone. I have hope now. I know my scores will have a temporary drop from my newly approved car loan. I'll keep my subscription for awhile. I've become hooked on seeing what happens when different accounts reports.

Re: Can I see 740 with charge offs?

Abelcrdn — Wed, 23 Dec 2020 15:47:23 GMT

Congrats on the new car! What did you get!

Re: Can I see 740 with charge offs?

josie — Fri, 25 Dec 2020 00:18:23 GMT

2021 rav4 adventure. Loan with Navy apr 4.29%

EDIT: sorry apr is 4.69% didn't realize I put a 2 instead of a 6

Re: Can I see 740 with charge offs?

Abelcrdn — Wed, 23 Dec 2020 16:02:13 GMT

That's awesome! Congrats