Fico score question

[bobnathan0295]

On a side note wallethub is predicting my credit score will go from 645 too 737 in 6 months. I will be happy if that was the case

[AllZero]

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@bobnathan0295 wrote:

Is it possible that the chart in this post reflects the fact that folks who had multiple 120 day late histories do have true underlying credit issues ?

 https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Time-Since-Late/m-p/5138396

My problems are personal and unique. They do not reflect overall financial picture

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I do not have an answer for that question. I am not the creator of the chart.

[bobnathan0295]

"Not quite sure how the word "charge off" does not make a difference in my post if I omitted addressing it? It isn't good for your profile either if it is reporting monthly with a balance. Your other post stated you took care of it. I can only presume that paying or settling it will help. Thus, I didn't address it fully in this post.

For your other 30, 90, 120 day, etc. lates, I would suggest a GW Good Will campaign."

The charge off is paid off with $0 balance. It is still called chargeoff.

I will try the GW good will campaign. 

[AllZero]

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@bobnathan0295 wrote:

On a side note wallethub is predicting my credit score will go from 645 too 737 in 6 months. I will be happy if that was the case

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Wallethub, CreditKarma or equivalent free CMS Credit Monitoring Service sites are great for viewing your credit reports. Their simulator are not that great.

If you wish to learn more...

I would recommend reading the below from ABCD2199
The Truth about Credit Card Utilization
My 11 Rules to Credit Rebuilding
FICO Score: What to pay down first?

From Birdman7
General Scoring Primer and Version 8 Master Thread, pub.5.17.20

[AllZero]

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@bobnathan0295 wrote:

The charge off is paid off with $0 balance. It is still called chargeoff.

I will try the GW good will campaign. 

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That is good.

Your scores should recover as time passes.

[Ficoproblems247]

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@bobnathan0295 wrote:

On a side note wallethub is predicting my credit score will go from 645 too 737 in 6 months. I will be happy if that was the case

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To add, Wallethub scores are mostly meaningless as they use VantageScore 3.0, not FICO scores. While Wallethub is a nice interface to view your daily TU updates, I would take their score and completely disregard it. AllZero already gave a lot of great advice about scoring. 

[bobnathan0295]

Wallethub made a downward revision of my score

It is expected to hit 695 instead of 737 in 6 months

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@Ficoproblems247 wrote:

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@bobnathan0295 wrote:

On a side note wallethub is predicting my credit score will go from 645 too 737 in 6 months. I will be happy if that was the case

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To add, Wallethub scores are mostly meaningless as they use VantageScore 3.0, not FICO scores. While Wallethub is a nice interface to view your daily TU updates, I would take their score and completely disregard it. AllZero already gave a lot of great advice about scoring. 

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[AllZero]

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@bobnathan0295 wrote:

Wallethub made a downward revision of my score. It is expected to hit 695 instead of 737 in 6 months

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I would recommend you follow your FICO scores.

Free or $1 you can obtain your 3 bureau FICO 8 scores and reports at Experian or CreditCheckTotal (part of Experian). Cancel in 7 day or less to avoid the re-occurring monthly charge. Wash, Rinse, and Repeat as needed.

[bobnathan0295]

Experian reports it at 645.

Equifax reports 680 (makes it a vantage score based on Equifax data)

Transunion is at 640s