EQ Fico score jumped 60 points in 10 Days!!!

JShidell · ‎06-13-2008

This is incredible. To me it seems almost unreal and I have no explenation on how and why it has jumped so much in such a short period of time. I have only taken care of two accounts in the past month and those still haven't posted to my report. So I don't know how this has happend.

Maybe its because my accounts are aging I don't know, but this is an incredible increase in such a short period of time.

I still have tons of collections and charge-offs, with no deletions or anything. Wow. I'm not going to complain but would really like to know why it has jumped so much.

v/r

James

llecs · ‎06-13-2008

Pull your reports and keep us posted!

Anonymous · ‎06-13-2008

When you say "taken care of two accounts", what do you mean?

JShidell · ‎06-14-2008

@Anonymous wrote:
When you say "taken care of two accounts", what do you mean?

Paid and settled a CA account.
Paid off my car loan.

v/r
James

Anonymous · ‎06-14-2008

If your first account was in dispute, it gets removed from the scoring while it is being disputed, and if this is your only "baddie" on your report then you might get rebucketed and have your score jump quite a bit because it looks like you have a clean report.

I doubt your auto loan was the factor, though you may expect a slight increase in score just before you pay it off (but not after if it was your only installment loan)

JShidell · ‎06-14-2008

@Anonymous wrote:
If your first account was in dispute, it gets removed from the scoring while it is being disputed, and if this is your only "baddie" on your report then you might get rebucketed and have your score jump quite a bit because it looks like you have a clean report.

I doubt your auto loan was the factor, though you may expect a slight increase in score just before you pay it off (but not after if it was your only installment loan)

My credit is really messed up. That CA I paid off is just one of about 8 remaining charge-off/collection accounts.

Like I said I don't know what caused this jump. Only thing I could see is a secured credit card I recently got is now reporting. That is a pretty big jump in 10 days just off a secured credit card.

v/r
James

Anonymous · ‎06-14-2008

Did you have any revolving accounts with an open status before this secured card? If not that may explain your jump. Revolving accounts are the biggest part of your credit score and thus you lose insane amounts of credit mix points without any on your reports.