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What was your score a year ago?

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Anonymous
Not applicable

Re: What was your score a year ago?

I just don't get it. I am more than a recreational FICO guy. I am mildly obssesed. I starte diwth my first score in 2005
 
11/3/2005   TU-698, EQ-711, EX-689
6/22/2006   TU-740, EQ-706, EX-704
11/7/2006   TU-724, EQ-723, EX-729
7/17/2007   TU-734, EQ-770, EX-744
12/10/2007 TU-747, EQ-747, EX-750
3/25/2008   TU-727, EQ-727, EX-749
 
 I don't understand what the big drop is from. The only changes during this time period are
I got a new credit card (for a total of 2) in June 2006, but I keep total use under 1% at all times
I got a student loan in June 2007 for my Masters Program
I applied for a mortgage March 18th and they sent me the scores I pulled up today (March 25th)
---
My last deliquent payment was 5 yr 10 mo ago and I have 14 yrs of credit with an average age of 8yrs
 
How could I have this big drop I am confused and frustrated.
 
Any thoughts?
 
Message 41 of 59
Anonymous
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Re: What was your score a year ago?

Edited for privacy! Thanks

Message 42 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

GW = Good Will.

Comerz1 wrote:
New to this site, could someone please tell me what GW and some of the other acronyms are? My wife and I are currently in the mid 500's and want to be at least above 650 before August, we are in a lease/purchase program and need to secure a mortgage in August.



Message 43 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

ok, thank you for that reply, but now I am only more confused! LOL So when people say they write a GW letter, what are they asking for and how are they asking it? Am I understanding that a creditor will remove some negative information out of "good will"? We are just looking for any helping factors we can find. I have a three year old BK but since then everything has been paid on time every time. I have 6 credit cards and am paying the balances back down, I was paying them off every month but someone told me doing so would not help my scored at all. No installment loans, just credit cards and no current collection activity, everything is very old.
Message 44 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

Hey everybody. I'm new to this board, (and replying to any message board for that matter). But I just had to respond to this thread.
 
A year ago I was in way over my head in debt and didn't even answer my phone due to creditors always harrassing me. I checked my Equifax score one year ago today, and was so devastated when it read 501
 
But then I became determined to change it. And over the last year paid off $12,000 in credit card debt. Today my scores are:
 
Experian 643
TransUnion 634
Equifax 627
 
My goal for next year is to jump to 720+. (keeping my fingers crossed)
Message 45 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

Okay byrdman tell me how you improved your scores that much in a year.  I need all the advice I can get right now.
Message 46 of 59
islandgirl
Member

Re: What was your score a year ago?

how did u do that?  i am new to this forum. 
trans=645  ex=659  eq=649  3-6-08  last year i was in the mid 500's.
 
  Any advice for the new kid on the block?  I greatly would appreciate it.
I do not have any collections.  I do have multiple,severe late payments due to various situations.  Such as 60,90,120 days late with Sallie Mae ,Pentagon Federal credit union,washington mutual (mortgage), and a 30 day late with capital one. My most recent late pay was a year ago. First premier cc=$400/0 balance Capital one cc=$500/10 balance  careone credit card =$2500/0 balance  sallie mae student loan=$1571.65 balance. FPcc i got in april 2007, Careonecc(medical cc) i got in may or june 2007,  Capitalone cc I got in 2004.  I have been told by myfico that i do not have enough premium credit cards?.  We are refinancing our home in the next 30 days.  I am hoping to get it up 10+ points in order to get a better rate.  Any ideas???
 
islandgirl
Message 47 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

Score up over 100 points in 2 months Smiley Very Happy.

1/16 = 585 (EQ)
3/21 = 693 (EQ)

All from paying down CC's from 90%+ to 1% utilization.

Message Edited by EVO on 03-25-2008 03:32 PM
Message 48 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

Can someone please explain credit card utilization for me? Is this just the amount of available credit from your credit cards that is decreased due to current balances?? I am new to this site and trying to figure out all of the terminology. Thanks!
Message 49 of 59
Anonymous
Not applicable

Re: What was your score a year ago?

Utilization ratio means the amount of credit used to the amount of available credit. For example, if you have a total of $10,000 AVAILABLE on your credit cards (all of them combined) and you owe $1,000 in total on your credit cards, you would be using 1,000/10,000, or 1/10th, or 10% of your available credit. That is what utliization means as discussed on this board.
Message 50 of 59
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