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Experian FICO 2 (Mortgage) Score Question

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Super Contributor

Re: Experian FICO 2 (Mortgage) Score Question


@Cruzzer1 wrote:

I just called Chase and asked how I could request that they report the new "zero balances" to the credit bureaus.

 

I was told that it could not be done manually - that I would have to wait until the normal credit card reporting cycle hit - which is 2+ weeks from now.

 

I have also called Experian 3 times today to try to take to a customer service rep there for some help/explanation.  Each time I was put on hold and the call was dropped/terminated after a 15-minute wait.  Very frustrating.

 

Bummer.

 


It's not true. Chase reports the zero balances AUTOMATICALLY within a day or two. The CSR was ignorant.

 

You're not going to be able to get Experian to change. If you have their Credit Watch or Credit Watch Premium, just pull your report daily. You'll get a nice surprise one day.


7/31 FICO 8: EQ 751 TU 781 EX 748 Total revolving limits 713500 (592500 reporting)
Message 11 of 80
Valued Contributor

Re: Experian FICO 2 (Mortgage) Score Question

Chase reports the same night you zero the balance. You will see it on EX the following morning at 3 AM. TransUnion and Equifax take their time updating their databases. It may take 3 to 5 days. That has nothing to do with Chase. Chase reports the same night. The delay is with Equifax and TransUnion.
New:
Under Recon:Should I?




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+0,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 4 HP dings to add; will update again.
Message 12 of 80
Valued Member

Re: Experian FICO 2 (Mortgage) Score Question

As the expert posters here suggested, the Experian credit reported updated overnight with 3 paid-off Chase credit cards.

My EX FICO 8 score is not up to 792 - but that darn EX FICO 2 score is still stuck at 719 - that is still 1point from what I need.

 

In case it provides any more insight, I have attached a summary shot of my EX CreditWatch page.EX.jpg

Message 13 of 80
Valued Member

Re: Experian FICO 2 (Mortgage) Score Question

I just called EQ.  They told me that once they receive the "zero balance" data from Chase that it will take 30-90 days to show up in my EQ credit report.  That sounds like misinformation, but who knows?

Message 14 of 80
Established Contributor

Re: Experian FICO 2 (Mortgage) Score Question


@Cruzzer1 wrote:

I just called EQ.  They told me that once they receive the "zero balance" data from Chase that it will take 30-90 days to show up in my EQ credit report.  That sounds like misinformation, but who knows?


LMAO!!!  That's just the sillyest response ever from a CSR that doesn't know anyhing about how credit works.  

 

I mean your CR is spotless other than normal day to day activities.  Scores are calculated based on the data provided at the time of the pull.  No magic timeline of when updated data gets crunched as the CSR suggested.  

 

There has to be some undderlying reason why... it's usually something silly like .01% being paid down on a TL to bring it into ideal range or switching up the scorecard from one to another by hitting a threshold of some sort.  

 

Or this https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Does-anyone-know-about-Experian-s-Fico-2...

 

So, SJ has already posted the more accounts reporting $0 adds points.  Now, it's not realistic to payoff your balances but, hopefully the ones you did will be enough to get over that 720 hurdle.  

500K+ TCL / 800+ FCOs
Message 15 of 80
Valued Member

Re: Experian FICO 2 (Mortgage) Score Question

O-E and SJ,

 

Thanks for your help.

I still can't fathom that paying 3 Chase cards down to zero overnight didn't at least garner me 1 point in FICO Score 2.

I'll keep pushing until either I get across the line or until time runs out on me.  LOL

Message 16 of 80
Super Contributor

Re: Experian FICO 2 (Mortgage) Score Question


@Cruzzer1 wrote:

O-E and SJ,

 

Thanks for your help.

I still can't fathom that paying 3 Chase cards down to zero overnight didn't at least garner me 1 point in FICO Score 2.

I'll keep pushing until either I get across the line or until time runds out on me.  LOL


Patience.


7/31 FICO 8: EQ 751 TU 781 EX 748 Total revolving limits 713500 (592500 reporting)
Message 17 of 80
Valued Contributor

Re: Experian FICO 2 (Mortgage) Score Question

If I’m reading you correctly you still have 6 CCs with a balance, the Citibank is over 50% and Starwood is, as well. You’re getting dinged for that and you still have too many accounts with a balance.

Bring some more accounts to zero if you can and try to lower the percentages on those cards below 48.9% below 28.9 if you can.
New:
Under Recon:Should I?




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+0,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 4 HP dings to add; will update again.
Message 18 of 80
Established Contributor

Re: Experian FICO 2 (Mortgage) Score Question

Looking back at some mortgage score you had in October 2018, 730+, 755, 719. Unless there has been way more utilization or new accounts, are you now down to 719 as your "middle" mortgage score, and need one point to qualify, or is the middle score (toss out highest and lowest to obtain) already over 720? This is what lenders will use in a tri-merge on your reports.

Message 19 of 80
Valued Member

Re: Experian FICO 2 (Mortgage) Score Question

Yes, my current 3 mortgage scores are 713-747-719 - I need to get my middle score to 720.

My credit card utilization is much lower than it was back in October 2018 when I was at 732-755-719.

The last number (719) is Experian Score 2.  In the past 10ish months it dropped once from 719 down to 709 and back up once to 719.  I can't believe it doesn't change more often. The EX and TU mortage scores have changed dozens of times during that same time period.

Message 20 of 80
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