Grasping at straws....opinion please...

[tbone74]

First my apologies....

I've posted a few simplistic questions over the past few weeks...hoping for a magical answer...lol

My situation is.....I was 7 points shy, now 10 points shy of qualifying for a VA Loan.  Because we're so close, I've been trying to figure out anything an everything that could possibly give us that 'little' boost over the top.  

So with that, here's my next question...which I know is subjective to many variables...but, here it goes.....

I believe I have read somewhere that one can expect a score increase upon reaching the 12 month anniversary of a loan.  Has anyone experienced that....or know if that is an actuality?  Curious....

Thanks again in advance!

[llecs]

I've seen mysterious increases (up to 20 points even) when some new TLs hit the one year mark. It all depends on your scoring bucket, the number of new TLs reporting, etc. Look for any change to occur on the first of each month, IME.

[tbone74]

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@llecs wrote:

I've seen mysterious increases (up to 20 points even) when some new TLs hit the one year mark. It all depends on your scoring bucket, the number of new TLs reporting, etc. Look for any change to occur on the first of each month, IME.

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Thanks for the info!  I'll be holding my breath...phone, and laptop....lol, hoping to get a score alert  

[haulingthescoreup]

There might also be a tiny increase from the inq hitting one year, depending on how many others you have on that same score report. Mine used to change at the beginning of the month, but then it seemed to be more on the anniversary of the inq/ account opening.

Good luck! Shake that money tree.

[llecs]

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@haulingthescoreup wrote:

Mine used to change at the beginning of the month, but then it seemed to be more on the anniversary of the inq/ account opening.

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Now that you mention it....last December I had a bunch of TLs hit one year. On December 1, TU dropped the number of accounts opened within the past year from 6 to 3, whereas EQ did not. It wasn't until later in the month that I pulled EQ again and the accounts opened within the past year dropped, making me think that they are scoring based on actual anniversary date.

[tbone74]

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@llecs wrote:

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Now that you mention it....last December I had a bunch of TLs hit one year. On December 1, TU dropped the number of accounts opened within the past year from 6 to 3, whereas EQ did not. It wasn't until later in the month that I pulled EQ again and the accounts opened within the past year dropped, making me think that they are scoring based on actual anniversary date.

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Interesting!  Well I hope this is the case and proves to be a positive.  I'm not sure what kind of impact this will provide on my score.....we shall see ;~)

[AndySoCal]

You a couple of  options ask the lender which bureau whose score was the middle score. If it is Equifax or Trans Union you can look at the score reasons on the credit report.  The score reasons are listed  in order impact on the score. You want to do what you can to address those reason(s). You want to work on either  your lowest or middle score ignore the highest score changing it does nothing for you.

[RobertEG]

Aging of accounts and dropping of inquiries from credit scoring after one year are factors that rely on age rather than postive actions you can take.

The quickest and most effective action you can take on your own is to reduce % util on revolving (CC) accounts.

What are your % utils on your existing revolving accounts?

[tbone74]

Thanks for the input, I do appreciate it

 However, the reason I'm 'grasping for straws' is, I'm at the point where I'm at 0% Util and all previous CA's are PIF....14+ months ago.  There really isn't much I can do at this point other then wait.  I've sent out GW's and am hoping to see some positive results from that.  I received one today, via email, that stated they would delete from all CRA's.  So...with all that being said, I'm hoping that the removal of this collection, in addition to a loan hitting the 12 month mark.....will be enough to boost me 7 to 10 points.  .....fingers crossed!

[tbone74]

Well I think there is some merit to the 12 month TL score bump.  I had a TL hit the 12 month anniversary on the 1st...the result, a 54 point increase in EQ.....616 to 670....Excellent!