Score Watch Alert (FICO score change: - [47])

[eddymvp]

Two accounts reported changed to my report and affected my scored to go down. The changes don't make any sence and why would my score drop that much.

Account 1.

FIRST PREMIER (XXXXXXXXXXXX0115)
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Previously reported
Balance: $0
Past due: Not Reported
Status: Pays account as agreed
Last activity: 3/1/2003
Description: Account closed at consumer's request Credit card

Newly reported
Balance: $0
Past due: Not Reported
Status: Not more than two payments past due
Last activity: 3/1/2003
Description: Account closed at consumer's request
Settlement accepted on this account
Credit card


**** Account 2


RIVIER COLLEGE (XXXXXXXXXXX9480)
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Account opened: 12/2004
Description: Closed or Paid Account/Zero Balance
Student loan
Payment deferred


Previously reported Newly reported
Balance: $0 $0
Past due: Not Reported Not Reported
Status: Pays account as agreed Pays account as agreed
Last activity: 5/1/2007 5/1/2007
Description: Closed or Paid Account/Zero Balance
Student loan
Closed or Paid Account/Zero Balance
Student loan
Payment deferred

Contact: RIVIER COLLEGE, 420 S Main St, Nashua, NH, 030605043 • (603) 888-1311


Previously reported
Balance: $0
Past due: Not Reported
Status: Pays account as agreed
Last activity: 5/1/2007
Description: Closed or Paid Account/Zero Balance Student loan



Newly reported
Balance: $0
Past due: Not Reported
Status: Pays account as agreed
Last activity: 5/1/2007
Description: Closed or Paid Account/Zero Balance Student loan Payment deferred


What can I do regarding this, my score shouldn't have drop that much by these two changes.

[lizabeth]

my score dropped 33 points yesterday for one late.
im as confused as you are.

[llecs]

First Premier:

The account updated with lates, where lates likely weren't reported before. "Not more than two payments past due" can be translated as "Was 60 days past due" in the comments section on your FICO report. I bet if you were to pull your report now, then you'd see that. And if you don't have very many lates now, then these are compounding the score loss.

College:

The only difference is "payment deferred". I don't know if that would impact or not.

This is my 2 cents anyway.

[eddymvp]

llecs,

This account is from 2003, and it already had a 30 and 60 days past due from february and march 2003. That's why i'm questioning why it dropped 47 points.

[llecs]

In the FICO reports, there's a box that says "worst delinquency". That box likely did say something like "none reported" prior to the score change. Unfortunately, it may have been changed to "60 days past due". That comment box does have a huge impact on your scores. I too have First Premier and they are just past the 7 yr mark. I had a CO with them in 2000. Monthly, they change it from "paid collection" to "120+ days past due". Because of that, the score yo-yos back and forth by about 30 points, if I recall correctly.

I don't know why that happens. In my case, FP is set to be removed in June and have no plans to fight it. However, it just doesn't seem right. And I could be wrong on the cause, but I'm feeling good with this and that is my final answer.

[Anonymous]

Did you notice that the credit card changed and now reports that you did a settlement on it?  This will definately have an impact on your credit score.

[Anonymous]

Lates are very damaging.

[techgirl]

Well, it also looks like there was a settlement there now that wasn't there before - could that be it in addition to the lates?

[Anonymous]

I'm new to this site ...I still have not subscribed to the FICO score watch....can I really view my report when ever I want.

tony

[llecs]

You can view the current report for a limited time, but you have to pay for a new report if you want it updated. I think if you sign up for SW, you get two free pulls on EQ only.