Why does fico conradict itself on my late payment history?
Negative Item #4
You recently missed a payment.
you missed a payment, your FICO score evaluates how recently that missed payment occurred. In general, the more recent the missed payment, the more impact it has on your score. In your case, your last missed payment happened recently. (NOTE IT SAYS "RECENTLY")
Your most recent late payment happened
4 Years, 7 Months ago
Most FICO High Achievers [?], about 93%, have no missed payments at all. But of those who do have a missed payment, it happened nearly 4 years ago, on average. (WTF?)
Starting Score: 615
AAHHHHHHHH Right. Buckets. I never think of that. No, actually my first account was opened 7 years ago and my AAoA is only 3 1/2 yrs. Long story short. Made mistakes. Gave up on credit for awhile and now i'm back. One of the reasons for my recent C1 denial was short history. Anyway, since I have you, I only have 1 collection left on my report that is getting removed. Do you think I will change buckets again and lose points? The reason I ask is because I also have the following derogs:
Judgment: 5/2005
Charge Off (Repo but shows as CO, related to Judgment): 6/2004
Thanks!!
Happy
@happy0510 wrote:AAHHHHHHHH Right. Buckets. I never think of that. No, actually my first account was opened 7 years ago and my AAoA is only 3 1/2 yrs. Long story short. Made mistakes. Gave up on credit for awhile and now i'm back. One of the reasons for my recent C1 denial was short history. Anyway, since I have you, I only have 1 collection left on my report that is getting removed. Do you think I will change buckets again and lose points? The reason I ask is because I also have the following derogs:
Judgment: 5/2005
Charge Off (Repo but shows as CO, related to Judgment): 6/2004
Thanks!!
Happy
With low utilization and no more than 1/3 of your open accounts reporting a balance you should remain in the mid 600's.
Really? The simulator says if I pay down my CC I will reach 700! But all I care about really is rebuilding. I only have one CC and need to get something else.