BungalowMo wrote:
Thanks!!
Is there an explaination to the rebucketing? Is it that when you hit a certain "amount" of baddies, you're in a different group? Sort of like tax brackets?? (good analogy??)
Check out the Understanding FICO Scoring board and do some searching and reading over there. To my knowledge, buckets are based on how many baddies you have, but more about what baddies/how severe, age, etc.
@Anonymous wrote:
@BungalowMo wrote:
Thanks!!
Check out the Understanding FICO Scoring board and do some searching and reading over there. To my knowledge, buckets are based on how many baddies you have, but more about what baddies/how severe, age, etc.
Ok...I've been reading up on it & which ever bucket I'm in right now, I am being compared to others in my bucket. But, for instance, at the end of July my baddies for an HSBC (CO) & Midland (CA from hsbc acct) will hit their 7 year mark. So will I continue to have HSBC on my CRA, just not showing the co status? And then totally lose the Midland acct?
Right now, my oldest acct is 11 yrs 9 mos. I actually have 3 of those, none being this mentioned above. I also haven't missed a payment for 4 yrs 9 mos. My AAoA is 6 yrs. When those above clean up and or clear out...I have enough in the "good" going for me to keep me in a good spot in the next bucket...wouldn't you think?
I have...
97 - 3 accts. - Different variations of a Sallie Mae loan *1 90 late on one. Drops off in summer 2011
03/99 - 1 acct - Wachovia car loan. Perfect payments!
2000 - 4 accts. *one is hsbc dropping baddie in 07/09
*one is a duplicate of above but showing open & positive tl - hehe
*one is Cap 1 ...on TU hard copy says due to drop in 07/09 (actual is 07/10)
*One is wfnnb - 3 lates, last drops 03/2010
do you see a pattern up there??? As compared to those below???
03/04 - 1 acct - citi auto - 2 year perfect payments! (first of my fix-my-credit days. 18% interest!)
03/05 - 1 acct - Credit One - perfect payments
10/06 - 1 acct. - Wachovia cc - perfect payments w/ a CLI too 
05/07 - 2 accts - Original mtg. perfect payments sold after 6 mo, Chase mtg...perfect payments
03/08 - 1 acct. - Care credit - perfect payments.
Any thoughts? Cap 1 was a co, but I paid them in full. When the 7 yr point hits, I will still have that acct for the age...right? Same with the HSBC? Are the only accts that actually drop OFF the collections?? We keep the OC with the age???? say yes.....
@BungalowMo wrote:Any thoughts? Cap 1 was a co, but I paid them in full. When the 7 yr point hits, I will still have that acct for the age...right? Same with the HSBC? Are the only accts that actually drop OFF the collections?? We keep the OC with the age????
@Anonymous @ "Say Yes".... I'm with you BungalowMo! Please Say Yes!
Goal Score: EX 700|TU 700|EQ700
BungalowMo wrote:
@Anonymous wrote:@BungalowMo wrote:
Thanks!!
Check out the Understanding FICO Scoring board and do some searching and reading over there. To my knowledge, buckets are based on how many baddies you have, but more about what baddies/how severe, age, etc.
Ok...I've been reading up on it & which ever bucket I'm in right now, I am being compared to others in my bucket. But, for instance, at the end of July my baddies for an HSBC (CO) & Midland (CA from hsbc acct) will hit their 7 year mark. So will I continue to have HSBC on my CRA, just not showing the co status? And then totally lose the Midland acct?
Right now, my oldest acct is 11 yrs 9 mos. I actually have 3 of those, none being this mentioned above. I also haven't missed a payment for 4 yrs 9 mos. My AAoA is 6 yrs. When those above clean up and or clear out...I have enough in the "good" going for me to keep me in a good spot in the next bucket...wouldn't you think?
I have...
97 - 3 accts. - Different variations of a Sallie Mae loan *1 90 late on one. Drops off in summer 2011
03/99 - 1 acct - Wachovia car loan. Perfect payments!
2000 - 4 accts. *one is hsbc dropping baddie in 07/09
*one is a duplicate of above but showing open & positive tl - hehe
*one is Cap 1 ...on TU hard copy says due to drop in 07/09 (actual is 07/10)
*One is wfnnb - 3 lates, last drops 03/2010
do you see a pattern up there??? As compared to those below???
03/04 - 1 acct - citi auto - 2 year perfect payments!
03/05 - 1 acct - Credit One - perfect payments
10/06 - 1 acct. - Wachovia cc - perfect payments w/ a CLI too
05/07 - 2 accts - Original mtg. perfect payments sold after 6 mo, Chase mtg...perfect payments
03/08 - 1 acct. - Care credit - perfect payments.
Any thoughts? Cap 1 was a co, but I paid them in full. When the 7 yr point hits, I will still have that acct for the age...right? Same with the HSBC? Are the only accts that actually drop OFF the collections?? We keep the OC with the age????
To be 100% honest, I know nothing about buckets, other than what they are used for. I can't tell you the different buckets or when you are likely to change buckets or nothing else.
As for the Cap 1 and HSBC CO, they can drop at the 7 year mark. EX is good about converting them to good accounts and letting them remain. However, this doesn't always happen.
I'm not exactly sure of those buckets and their comparisons!!
All I know is that on Equifax, my major derogs, being a 90 day late or something like that, and a paid collection were removed from my report.
I was rebucketed into the "no major derog" bucket and my score dropped. But it dropped, as I understand it, because of the other variables related to other "files" in the same bucket.
Basically, my utilization sucks!!
I'm working on it, I'm working on it!!! Lol!
Hey Trish...mine too! I'm at 60% & working on it too!
Wanna trade??
Every time I *think* I'm down to 60 or below (according to my spreadsheet!) here comes the infamous CLD to knock me back up to pushing 70.
In my reality, my utilization is about .5%, the other 68.5 belongs to hubz (and boy is he paying!). Tried to keep his construction business afloat, but it didn't work.
Ah well, live and learn!