Experian/ Fico Score Simulator

[AyaMai]

My Experian score decreased 55 points by an old debt with Capital One which decided to report it late (years) in 2016 and picked up by a collection agency and decided to report it last month. My score was 736, was going to be 761 when my late payment of a credit card will drop off in June using Experian Fico Score Simulator. The collection will drop in September 2023, I found out when I called Experian, but does not show on my end, it does show on TransUnion Vantage Score that will drop in November 2023. Doesn't my  collection ages, and my score increases using Experian Fico Score Simulator, it doesn't much, I think it is because there is no date when the collection will drop at my end. I do pay monthly subscription for Experian. Any input will be appreciated. 

[Remedios]

Simulator is a toy, and it will not give you any accurate data on what happens when negatives are gone. 

What you can do is pay collection so it stops reporting because it will keep your scores suppressed. Additionally, with new collection showing up, I don't think you'll see much in terms of gains as long as collection is there.  

[AyaMai]

The debt is far more than 10 years old, Capital One only reported that I am in default in 2016 & sold the debt to a collection agency. I didn't start rebuilding my credit only in October 2020 by fluke, when I used to pay my purchases through PayPal, then offered 4 installments, then I decided to try my luck buying Pixel 5 through Google, was approved, then my journey started to rebuilding my credit, everything went well besides finding out that I had one late payment which I wasn't aware on Capital One Platinum $200 CL. At this moment I have $73000 CL not including X1 18K not reported yet. My utilization is 1% - 2%.

Even Experian agent was surprised why now it is being reported, we had the same conclusion that they found out that I have money and pay on time. To me I find it very sneaky from their part. I am fortunate I have accumulated the credit cards I needed to earn cash backs and points for everything. 

I am not applying for any credit in future, already bought a car last October, my loan is 6 years, not applying for a mortgage in the future. I am 66 years old, I don't have the luxury of time on my side to trigger another 7 years of collection history on my credit by just paying or even contacting the collection agency. Unfortunately there are different opinions about collections, to be honest I have no clue how this negative report will be erased. 

[dragontears]

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@AyaMai wrote:

The debt is far more than 10 years old, Capital One only reported that I am in default in 2016 & sold the debt to a collection agency. I didn't start rebuilding my credit only in October 2020 by fluke, when I used to pay my purchases through PayPal, then offered 4 installments, then I decided to try my luck buying Pixel 5 through Google, was approved, then my journey started to rebuilding my credit, everything went well besides finding out that I had one late payment which I wasn't aware on Capital One Platinum $200 CL. At this moment I have $73000 CL not including X1 18K not reported yet. My utilization is 1% - 2%.

Even Experian agent was surprised why now it is being reported, we had the same conclusion that they found out that I have money and pay on time. To me I find it very sneaky from their part. I am fortunate I have accumulated the credit cards I needed to earn cash backs and points for everything. 

I am not applying for any credit in future, already bought a car last October, my loan is 6 years, not applying for a mortgage in the future. I am 66 years old, I don't have the luxury of time on my side to trigger another 7 years of collection history on my credit by just paying or even contacting the collection agency. Unfortunately there are different opinions about collections, to be honest I have no clue how this negative report will be erased. 

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I think you don't understand how DOFD, collection accounts and reporting time frames work.

It doesn't matter when the debt was accumulated, what matters is when you defaulted on it. The date you defaulted on the debt and never brought it current is the DOFD, this date can't be changed. 

DOFD determines when negative information falls off your reports. Contacting the CA or paying the debt will NOT change the credit reporting exclusion date.

As long as the account is <7 years and is unpaid CA is free to report every single month if they choose to.

[moto4man]

There isn't a simulator out there that isn't broken.  True story....

[FireMedic1]

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@AyaMai wrote:

The debt is far more than 10 years old, Capital One only reported that I am in default in 2016 & sold the debt to a collection agency. besides finding out that I had one late payment which I wasn't aware on Capital One Platinum $200 CL.

I am not applying for any credit in future, already bought a car last October, my loan is 6 years, not applying for a mortgage in the future. I am 66 years old, I don't have the luxury of time on my side to trigger another 7 years of collection history on my credit by just paying or even contacting the collection agency. Unfortunately there are different opinions about collections, to be honest I have no clue how this negative report will be erased. 

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When you say the debt is more than 10 years old. Question is. When was it closed? What was the debt? Was it a CO (default)10 years ago or 2016, never paid and it went to collections, with a late?  Look at your real credit reports from annualcreditreport.com. Look for the first late that led to the CO. Thats your DoFD. If thats past 7yrs. Shouldnt be on your reports with no collections. Might be a zombie debt collector. The timeline isnt matching.