PLEASE HELP WITH INFO. CONCERNING TRANSUNION AND FICO SCORE RATING !!!!

[Anonymous]

I have been trying to increase my fico score to obtain a better mortgage rate. I have bought many products to get info. on my scores.  My scores were pretty high in September when the financier pull them.  In October it was pulled again and my score decreased a lot.  I had paid my car payment late, by error.  Even with that occurrence I don't think my scores should have decreased over 50 points for all bureaus, ex. equalfax went from 670 to 594 and transunion went from 620 to 577 and it's still decreasing.  I have now paid off all credit cards and the car (which the payment was late) and my score still have not gone up with transunion.  I called them and was told that fico do not get a score from them, that they make up a score of their own.  I was told I must purchase the score from them to get the correct information.  I can not keep buying products from these credit information companies. If you have any info. in how and if fico gets it's scores from the three bureaus and how to increase my tranunion score, please help me.  I have only a short time to try to change my score.  T.Y. 

[Anonymous]

50 to 100 points for a recent 30 day late is pretty typical.

BEST thing to do is talk to the Auto loan company and beg for forgiveness, keep going up the chain til you get results-

Was the payment late? or over 30 days late?


Also having zero balance on all cards will make you score go down- having 1 card reporting a small balance (about 5% of CL)

myFICO is the best place to get scores- other places are fine to get reports- read the Credit 101 thread about FAKO scores.

[Anonymous]

zero balance credit credit never hurts your score in of itself, the real issue is payment history.

From report I've a gotten shows  24 month payment history although they keep a tally of lates for 7 years.

but point being if you don't have to make a payment to your credit card for 24 months then they report will have no record of recent activity on the card , then the card is consider unused and that hurts your score

[Anonymous]

You have to pay your bills on time. No way around that - they don't care if your payment is late because of a mistake, or any other reason.

Pretty cold, I know. But, them's the facts.

[Anonymous]

I disagree- all zeros will cost points-
For me 20 points-

Responsible use and paying ontime-

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@Anonymous wrote:

zero balance credit credit never hurts your score in of itself, the real issue is payment history.

From report I've a gotten shows 24 month payment history although they keep a tally of lates for 7 years.

but point being if you don't have to make a payment to your credit card for 24 months then they report will have no record of recent activity on the card , then the card is consider unused and that hurts your score

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[Anonymous]

I paid the car payment on the thirty first day.  I did ask the customer rep at toyota if she would consider not putting me in bad credit because I was going to pay the car off at that time.  She told me that it would be illegal not to report it. 

[Anonymous]

Then you made an overdue payment. The scoring clock doesn't start ticking until the payment due is over 30 days old.

As Cap1 pointed out to me, I have few 30 day lates, but several "overdue" payments(which did not show up on my CR). You should not be penalized in your score if your payment was made a few days after the due date. At least that's my understanding.

[rudy]

I always thought it was 30 days from the due date

[marty56]

With Wells fargo, you your payment is due say on the 3rd and the statement date is on the 5th and you pay on the 6th you are 30 days late to them.

[Anonymous]

RAE...............I currently have a lease with Toyota, and I have 30 days to make a payment. As an example, my lease payment is due on the 25th of each month. So, my October payment is due October 25. I have until November 25 to make my October payment. If I don't make my October payment by November 25, I will be 30 days late. If I pay on November 26 - my October payment is 30 days late.