i used to have excellent credit and when i got my first 30 day late, my scores dropped to the level of no return.
i actually continued being late on accounts and had some charge-offs, and now my score has actually gone up!
is this what someone was trying to explain to me before about "buckets".
i have read articles on FICO 08 and know that it will eliminate to ability to "piggyback" using the AU method. and that the system is supposed to someone do a better job of evaluation credit files with a short history.
What i dont know is:
-if the recent mortgage/credit crunch will affect the formula for fico 08?
-if fico 08 will be harder or easier on those with delinquent accounts?
-if utilization will be considered more important or less important?
these are all things i have been questioning...thanks to anyone who can answer
