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Fico scoring, lates, and timing

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bettercreditguy1
Established Contributor

Fico scoring, lates, and timing

Hi to all. My only negative pay account turned 5 years positive today. The base FICO score did not improve. However, the Best Possible Score range increased dramatically.

The prior range was 753-793. The new range is 798-838. FYI, this account had 4 each 30 day, one 60, and one 90 day lates respectively. I hope this example helps you to understand Lates and scoring better.  I have no other derogs, public records, or inquiries. Currently I have a mortage, 2 automobile loans, several active credit cards, and about 30 trades reporting. 800 here we come!

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
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2 REPLIES 2
sunshine7157
Regular Contributor

Re: Fico scoring, lates, and timing


@bettercreditguy1 wrote:

Hi to all. My only negative pay account turned 5 years positive today. The base FICO score did not improve. However, the Best Possible Score range increased dramatically.

The prior range was 753-793. The new range is 798-838. FYI, this account had 4 each 30 day, one 60, and one 90 day lates respectively. I hope this example helps you to understand Lates and scoring better.  I have no other derogs, public records, or inquiries. Currently I have a mortage, 2 automobile loans, several active credit cards, and about 30 trades reporting. 800 here we come!


Really good to know. I was wondering about the 5 yr mark myself as I have one turning 5 in May. Where did you get the 'best possible score range(s)' to which you refer?

Message 2 of 3
bettercreditguy1
Established Contributor

Re: Fico scoring, lates, and timing

Go to the Fico Simulator on the Equifax or Transunion portals. Click "Simulate the Best Action" key. It will show you an approximated score 24 months out, assuminng no more negatives or major changes on your account. I have found it to be conservative on the low side for myself, (approx 10-15 points). You can also play with the simulator for shorter periods of time as well. 

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
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