@Anonymous wrote:I have a 90D late payment from Sept 2012 7 years ago that's about to fall off in October. Somehow, it's already fallen off my Experian, and I'm at 740 FICO8 now starting from a sub-600 score from 2 years ago. This lone baddie is still showing up on TU and EQ, and it looks like it limits my score to ~680 max, probably because of the "dirty" scorecard.
I am in a very similar situation. I have a Foreclosure from Sept 2012 that should be falling off soon as well. My EX score has been fluctuating between 680 and 693 for the past year, but won't go any higher. My EQ has risen to 701 during the same period, and now seems to be capped.
@Anonymous wrote:The myFICO simulator suggests that no matter what I do, I have to wait for it to fall off my report, at which time my TU, and EQ will jump from ~680 to ~790, assuming no new accounts in that time. WIthout the 90D falling off, I'm stuck at like 680. This suggests that in my weird scorecard, >100 point jump is possible. Any anecdotal evidence to support this?
Simulators are highly unreliable when predicting future credit moves. The point increase depends a lot on your profile, but I personally wouldn't be holding my breath for a 100 point gain given that you recently added three new accounts.
@Anonymous wrote:Should I just wait till October before requesting CL increases from Discover and Citi? I get the impression that I should be able to get $5K increases once my score jumps.
You should be able to get an Early Exclusion from TU(up to 6 months) at this point
Actually it's the lack of positive history that's keeping your score at a 680; if you had a 90D late at seven years and call it 10 years of positive history on several tradelines you'd probably be at 780 not 680, maybe even higher on an optimized file.
To reach the top scoring echelons takes both positive history and a lack of negative marks... but even the worst derogatory scorecards max out substantially higher than a 680.
You're absolutely doing the right thing though having opened up accounts, just you'll need to get some age on them before you start really cranking out a higher score.
@Anonymous wrote:
@Revelate wrote:Actually it's the lack of positive history that's keeping your score at a 680; if you had a 90D late at seven years and call it 10 years of positive history on several tradelines you'd probably be at 780 not 680, maybe even higher on an optimized file.
What's the highest FICO 8 score you've seen with a Major present Rev? I personally have not heard of an 780 or even higher as you put it. My file was pretty darn close to optimized and the highest I achieved was 768 on TU and 750/751 on EX/EQ. I did have a little wiggle room as far as age of accounts went perhaps. Just wondering what you've seen.
OP, a 100 point gain isn't unheard of, although typical gains for a lone significantly aged Major falling off tend to land in the 60-80 point range the majority of the time from what I've seen on most profiles. There are some reports of lower than that range and above that range, with 100 points likely being pretty close to an outlier, but still a possibility.
iced is at a 780 today and thought his was serious derogatory though I'd have to go look for it, also his installment utilization is like mine, unoptimized plus some balances and inquiries I believe.
We had one report, and admittedly everyone except yours truly thinks this is an outlier and even I'm a little skeptical of the datapoint, of a 792 with a 90D about to fall off... but I think we run into some problems ruling that datapoint completely out.
My TU is in a serious derog scorecard with a 60D from a year and a small change ago and totally FUBAR installment utilization after I picked up my mortgage which we know is a thing on FICO 8 and even I got 20+ point move with a tax lien (I have to go dig out the exact datapoint)... and even with all that going on, and the AAOA < 5 years which appears to be a small breakpoint even on FICO 8, I'm at 749... and that late is still considered recent too from a reason code perspective.
If I had 200k to throw at my mortgage I sort of suspect might be at 770 today frankly, and will pick up points for AAOA (especially if it's small increases from 5 to 10 years call it) and whenever that late moves to aged territory that's more points. I'm just not certain we've had a fully optimized file in a derogatory scorecard with significant age on it (at this point I'm thinking that's AAOA 5+ years), and as such I'm sort of thinking while 800 might be out of reach 790 doesn't seem like it even on FICO 8.
And FICO 9, not sure but it seems laughable even in my case, it's already at a 782 on TU and 796 on EQ (30D) and that EQ one was over 800 before I picked up an inquiry on it.
Oh that's interesting, no AAOA complaint on EQ FICO 9 or at least doesn't make the top 4, short revolving history is there though.
