Hi all, I started my pay down plan two weeks ago and the first payment posted, statement cut at 0, and reported to TU.
I've been so focused on the mortgage scores, that I didn't think about improving the others. lol.
I have questions about the comments.
1. I assume the first and last bullets are for two paid collections (same CA...trying to GW them now). Is my assumption correct?
2. Is there a specific UTIL threshold that will rid me of the second bullet?
3. I have a single 30-day late from NFCU 8/2018 - only 4 months old (Is this what the third bullet refers to?)
4. Is there a difference between derog and delinquency?
012019 Fico8/Mortgage Score: 
1. I assume the first and last bullets are for two paid collections (same CA...trying to GW them now). Is my assumption correct?
2. Is there a specific UTIL threshold that will rid me of the second bullet?
3. I have a single 30-day late from NFCU 8/2018 - only 4 months old (Is this what the third bullet refers to?)
4. Is there a difference between derog and delinquency?
Regarding item 3, when were the collections? If long ago, then probably the late.
Re: item 4, derog is a more generic/wider description, but the terms are often used synonymously. All delinquencies are derogs, but I don't believe the converse to be true.
@expatCanuck wrote:1. I assume the first and last bullets are for two paid collections (same CA...trying to GW them now). Is my assumption correct?
2. Is there a specific UTIL threshold that will rid me of the second bullet?
3. I have a single 30-day late from NFCU 8/2018 - only 4 months old (Is this what the third bullet refers to?)
4. Is there a difference between derog and delinquency?
Regarding item 3, when were the collections? If long ago, then probably the late.
Re: item 4, derog is a more generic/wider description, but the terms are often used synonymously. All delinquencies are derogs, but I don't believe the converse to be true.
Collections were opened in 4/2017 and 4/2018...paid in 11/2018. I originally had 3 collections, one CA agreed to remove immediatly so, I am really hoping that my GW campaign works on these last two so I can be rid of my baddies.
@Anonymous wrote:It's possible to see a negative reason statement related to utilization if your aggregate utilization is 9% or greater, as a scoring penalty would be imposed at that point. This is one of the reasons it bothers me to hear the recommendation/suggestion that keeping utilization "under 30%" is considered ideal, as anything in the 9%-30% range isn't ideal in terms of FICO scoring.
Yikes! I won't be down to the <8.9% for a VERY long time without adding new tradelines with insanely high limits lol. I will focus on 30-day late and collections this year.