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Help me understand

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Anonymous
Not applicable

Help me understand

In November I had my lender scores pulled to use the simulator and I know the results are only good for 30days however I was told if I paid my credit card down to $101 and payoff off a collection I would get a 50 point increase in TU  and if I paid another card to &10 and pay off that same collection I would get a 30 point increase in EXP.Well since then I got two 60 day lates removed and two 30 day late removed,  and I paid off one of my cards and paid the other down to 1% also I got a CLI on one of the cards( I didnt request so no hard inquiry) I got a 44 point increase for EXP and I lost 6 points in transunion, however transunion account only reflect one my cards being paid the other one still says 87% UTL, nevertheless why did I lose 6 points?

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Help me understand

Are these actual Fico scores you're talking about? If so, which version? If not, what's the source of the scores?

Message 2 of 9
Anonymous
Not applicable

Re: Help me understand

yes, mortgage scores 04- I had the lender give me my simulator results..


@Anonymous wrote:

Are these actual Fico scores you're talking about? If so, which version? If not, what's the source of the scores?


 

Message 3 of 9
gdale6
Moderator Emeritus

Re: Help me understand

There is no way to tell you why 6 points get lost, it could be as simple as an update to the way a payment history reports for 1 month, dont sweat the small moves and I consider +- 20 to be small. I would not rely on the simulators either, they often do not match reality at all. I will tell you getting all your cards paid off except for 1 that reports no more than 9% of its CL to the CRAs will get you pretty much the most you can get from your revolvers, you can tweak your score by changing that percentage and finding the one that actually gives you the highest Fico.

Message 4 of 9
Anonymous
Not applicable

Re: Help me understand


@gdale6 wrote:

There is no way to tell you why 6 points get lost, it could be as simple as an update to the way a payment history reports for 1 month, dont sweat the small moves and I consider +- 20 to be small. I would not rely on the simulators either, they often do not match reality at all. I will tell you getting all your cards paid off except for 1 that reports no more than 9% of its CL to the CRAs will get you pretty much the most you can get from your revolvers, you can tweak your score by changing that percentage and finding the one that actually gives you the highest Fico.


From what I hear on these forums the lender simulator is usually dead on! Smiley Sad 

Message 5 of 9
Anonymous
Not applicable

Re: Help me understand


@Anonymous wrote:

@gdale6 wrote:

There is no way to tell you why 6 points get lost, it could be as simple as an update to the way a payment history reports for 1 month, dont sweat the small moves and I consider +- 20 to be small. I would not rely on the simulators either, they often do not match reality at all. I will tell you getting all your cards paid off except for 1 that reports no more than 9% of its CL to the CRAs will get you pretty much the most you can get from your revolvers, you can tweak your score by changing that percentage and finding the one that actually gives you the highest Fico.


From what I hear on these forums the lender simulator is usually dead on! Smiley Sad 


Not sure where you read that because the nature of simulator is that it's just guessing the effect.  There is no guarantee that your scores will chane change a finite number of points if you do x, y, or z.  It just a guess and often wrong .

Message 6 of 9
Anonymous
Not applicable

Re: Help me understand

http://ficoforums.myfico.com/t5/Mortgage-Loans/Lender-Simulator/td-p/2836767

 

 


@Anonymous wrote:

@Anonymous wrote:

@gdale6 wrote:

There is no way to tell you why 6 points get lost, it could be as simple as an update to the way a payment history reports for 1 month, dont sweat the small moves and I consider +- 20 to be small. I would not rely on the simulators either, they often do not match reality at all. I will tell you getting all your cards paid off except for 1 that reports no more than 9% of its CL to the CRAs will get you pretty much the most you can get from your revolvers, you can tweak your score by changing that percentage and finding the one that actually gives you the highest Fico.


From what I hear on these forums the lender simulator is usually dead on! Smiley Sad 


Not sure where you read that because the nature of simulator is that it's just guessing the effect.  There is no guarantee that your scores will chane change a finite number of points if you do x, y, or z.  It just a guess and often wrong .


 

Message 7 of 9
MidnightVoice
Super Contributor

Re: Help me understand

Paying off a collection - does that help?  I needed to wait until mine dropped off to get a 52 point score increase

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 8 of 9
gdale6
Moderator Emeritus

Re: Help me understand


@MidnightVoice wrote:

Paying off a collection - does that help?  I needed to wait until mine dropped off to get a 52 point score increase


If this is updating monthly then its keeping your Fico score depressed and you would want to attempt the PFD, if that fails you would then want to settle to stop the monthly updating. If its not updating now then it would be a calculated risk on what to do if anything.

Message 9 of 9
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