FICO Scoring

[Anonymous]

I got a message today about my scorewatch.

I have paid off 4 bad (red flag) accounts in the last 3 months.

My Equifax went from 556 in Dec to 563 in Jan and now today I get the notice my score changed  to 556 again.

This was due to paying off a closed off account of my husbands

and my Equifax  went back  down to 556.

How Come?

[JoeBJay20]

Welcome to the forums!

Without knowing your entire credit history, it would be impossible to tell you exactly why your score is where it is.  Paying off collections does not cause your score to increase, unless those collections were being factored into your credit utilization.  Paid collections and unpaid collections are scored the same.  In reality, a 7 point change in either direction is a minor change.  

[laz98]

did you check your scores here?

[MarineVietVet]

---

@Anonymous wrote:

I got a message today about my scorewatch.

I have paid off 4 bad (red flag) accounts in the last 3 months.

My Equifax went from 556 in Dec to 563 in Jan and now today I get the notice my score changed  to 556 again.

This was due to paying off a closed off account of my husbands

and my Equifax  went back  down to 556.

How Come?

---

Hello and welcome.

What kind of bad accounts were they? Were they late payments? 30 days late, 60, 90?

A charge off or collection? How old were these bad accounts? Knowing this might help with an answer.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

[haulingthescoreup]

Paying off delinquent accounts makes your creditors happy, but it doesn't do anything for your FICO scores. The score damage is because you were late, not because you owed. (I mean "you" as in all consumers, not you specifically!)

The best bet for things like this is to try for a PFD (pay for delete), if you haven't paid yet, or a GW (goodwill) letter if you have. More info on the Rebuilding Your Credit board.

[Anonymous]

Thank you for your answers

They were revolving credit cards

THAT HAD RED FLAGS THAT HAD SOME LATENESS THAT WE PAID OFF EARLY!

and they were Equifax scores here on FICO.

I am trying to raise my scores

Equifax currently  down to 562

Transunion  Up to 598

Experian  up to 700.