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My Very First 800 FICO!! \ (•◡•) /

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Re: My Very First 800 FICO!! \ (•◡•) /

Congratulations indeed! Your hard work and patience is paying off well!!

Keep up the great work!!










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 41 of 59
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Established Member

Re: My Very First 800 FICO!! \ (•◡•) /


@capableflower wrote:

@thornback wrote:

@capableflower wrote:

Thank you! I'm very excited as well. Smiley Very Happy Haven't had a clean report in...well...7 years, lol.


 

hahaha...   It's going to be glorious!   


Woot Woot! 


Good morning! Happy Valentine's Day! I just wanted to pop in here and give an update that my scores went down. Smiley Sad 


Feb 2020
Message 42 of 59
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Valued Contributor

Re: My Very First 800 FICO!! \ (•◡•) /


@capableflower wrote:


Good morning! Happy Valentine's Day! I just wanted to pop in here and give an update that my scores went down. Smiley Sad 


Happy Valentine's day to you too! 

 

Well, I'm very sorry to read this post.  Did they drop after the chargeoff removals?  

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 02/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 02/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.0 years not incl. AU / 9.0 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 43 of 59
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Valued Contributor

Re: My Very First 800 FICO!! \ (•◡•) /


@Birdman7 wrote:
Congratulations indeed! Your hard work and patience is paying off well!!

Keep up the great work!!

Thanks so much!!

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 02/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 02/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.0 years not incl. AU / 9.0 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 44 of 59
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Established Member

Re: My Very First 800 FICO!! \ (•◡•) /


@thornback wrote:

@capableflower wrote:


Good morning! Happy Valentine's Day! I just wanted to pop in here and give an update that my scores went down. Smiley Sad 


Happy Valentine's day to you too! 

 

Well, I'm very sorry to read this post.  Did they drop after the chargeoff removals?  


Yay, you're online! Smiley Happy I'm so glad I caught you.

 

Sadly, yes they did. I believe it's because it dinged my AYOA and my collection reported again. *sigh* Do you think that's what could have caused it. Also, my utilization on my 2 credit cards went up from high spend on my vacation last weekend. Card #1 39% → 55% and Card #2 17% → 24%. Do you think one of both of these factored into my score decrease? Sorry to ask so my questions so early in the morning, but I truly value your advice.

 

Feb 2020
Message 45 of 59
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Valued Contributor

Re: My Very First 800 FICO!! \ (•◡•) /


@capableflower wrote:

 

Sadly, yes they did. I believe it's because it dinged my AYOA and my collection reported again. *sigh* Do you think that's what could have caused it. Also, my utilization on my 2 credit cards went up from high spend on my vacation last weekend. Card #1 39% → 55% and Card #2 17% → 24%. Do you think one of both of these factored into my score decrease? Sorry to ask so my questions so early in the morning, but I truly value your advice.

 

The combination of everything you've listed is the cause.  By how much did your scores decrease?

 

AAoA dropping when accounts are removed is common and, depending on how much it dropped, can lower your scores (did we warn you of that possibility in the beginning? I hope we did).

 

A collection reported again? That in itself is hurts quite a bit. 

 

And yeah... The individual util on the one card increasing to 55% is a culprit as well - good thing is those points will come back as you pay down so don't sweat it.   If it makes you feel better, my scores dropped too overnight -  had a 56% balance report which increased my overall util to 12%.  Lost 25 points.  Expect score reductions whenever your util increases... but try not to let it stress you out - it's temporary. 

 

Also try not to stress over the lowering of your age of accounts -  time will fix that and you'll slowly regain those points.  The chargeoffs being gone is an incredible step in the right direction.  Last year, I lost 20+ points across the board when my final derogatory was removed because, though it was a derogatory chargeoff, it was also my oldest revolving account.   My goal was a clean report though so, while disappointed, I had to look at the bright side.  My scores rebounded even higher once I let my newer accounts age a bit. 

 

What's the deal with that collection? 

 

Sorry if my tone seems a bit short - I'm on mobile and it's annoying... lol. 

 

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 02/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 02/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.0 years not incl. AU / 9.0 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 46 of 59
Highlighted
Established Member

Re: My Very First 800 FICO!! \ (•◡•) /


@thornback wrote:

@capableflower wrote:

 

Sadly, yes they did. I believe it's because it dinged my AYOA and my collection reported again. *sigh* Do you think that's what could have caused it. Also, my utilization on my 2 credit cards went up from high spend on my vacation last weekend. Card #1 39% → 55% and Card #2 17% → 24%. Do you think one of both of these factored into my score decrease? Sorry to ask so my questions so early in the morning, but I truly value your advice.

 

The combination of everything you've listed is the cause.  By how much did your scores decrease?

 

Updated scores as of yesterday are: EX - 688, EQ - 690 and TU - 680. Previous scores are in my siggy.

 

AAoA dropping when accounts are removed is common and, depending on how much it dropped, can lower your scores (did we warn you of that possibility in the beginning? I hope we did). Maybe, I don't remember. Is it AAoA or AYoA?? What's the difference...lol. 

 

A collection reported again? That in itself is hurts quite a bit. 

 

And yeah... The individual util on the one card increasing to 55% is a culprit as well - good thing is those points will come back as you pay down so don't sweat it.   If it makes you feel better, my scores dropped too overnight -  had a 56% balance report which increased my overall util to 12%.  Lost 25 points.  Expect score reductions whenever your util increases... but try not to let it stress you out - it's temporary. Yeah =/ I bought a new iphone because Apple loves to stop updating their olders models once they've become obsolete. 

 

Also try not to stress over the lowering of your age of accounts -  time will fix that and you'll slowly regain those points.  The chargeoffs being gone is an incredible step in the right direction.  Last year, I lost 20+ points across the board when my final derogatory was removed because, though it was a derogatory chargeoff, it was also my oldest revolving account.   My goal was a clean report though so, while disappointed, I had to look at the bright side.  My scores rebounded even higher once I let my newer accounts age a bit. How do I find out what my age of accounts is? How long did it take for your scores to rebound? Right now, with the charge-off being removed all my accounts are in good standing. Would you consider it to be a good idea for me to ask DH to put me as an AU on antoher one of his credit cards to help or is it not needed in this case?

 

What's the deal with that collection? LOL!!!! This is the collection from Midland that was attached to the Best Buy charge-off. It's going to fall off in April. 

 

Sorry if my tone seems a bit short - I'm on mobile and it's annoying... lol. You're totally fine! Smiley Happy You could never be annoying.

 

 


Feb 2020
Message 47 of 59
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Valued Contributor

Re: My Very First 800 FICO!! \ (•◡•) /


@capableflower wrote:

 

 


Give me about 20-30 mins and I'll get back to you on all of that...  have to drive. 😊

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 02/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 02/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.0 years not incl. AU / 9.0 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 48 of 59
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Established Member

Re: My Very First 800 FICO!! \ (•◡•) /

Safe travels!


Feb 2020
Message 49 of 59
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Valued Contributor

Re: My Very First 800 FICO!! \ (•◡•) /


@capableflower wrote:

@thornback wrote:

The combination of everything you've listed is the cause.  By how much did your scores decrease?

 

Updated scores as of yesterday are: EX - 688, EQ - 690 and TU - 680. Previous scores are in my siggy.

 

Interesting,  those aren't very large drops at all in the grand scheme of things - with the exception of Equifax.   You may have only been penalized for utilization, possibly also for the update of the collection.  May not have been penalized by the drop in age of accounts at all.  It's possible that you did gain a few points from having the charge-offs removed but the gain was overshadowed by the loss of points due to increased util and the collection update... we won't know till your util drops (assuming the collection isn't updated again between now and then) and we see where your scores land -- and even then, if the collection is removed around that same time decreased util reports, we won't be able to decipher between the change due to removing the collection and decreasing util.  It gets really murky when multiple changes are happening at once. 

 


@capableflower wrote:

 

Maybe, I don't remember. Is it AAoA or AYoA?? What's the difference...lol. 

 


AAoA:  Average Age of Accounts

AoYA: Age of Youngest Account

AoOA: Age of Oldest Account

 

AAoA is calculated by adding up the individual ages of all your accounts (in months) and dividing that by the total number of accounts.   There are thresholds for AAoA that when crossed (above/below) affect your scores -- we, unfortunately, don't have them all pinned down exactly tho... 1 year, 2 years, seemingly 3 years, and 5 years seem to be significant. 

 

AoYA is important -- once it reaches a year you get a score boost.   AoYA is hard to keep over a year though... because everytime you add a new account, it drops back down to zero (this, in conjunction with the associated inquiry, is why many lose points when adding a new account). 

 

AoOA is a score card segementation factor.  It determines the scorecard on which your profile sits.   The higher the better.

 


@capableflower wrote:
How long did it take for your scores to rebound? Right now, with the charge-off being removed all my accounts are in good standing. 

 

My scores started rebounding slowly as my new accounts aged to 1 year.   My case is not a great example tho.  Prior to that last charge-off being removed, I had added 7 new accounts... lol.   I didn't expect removal of that last derog because I had been trying to get it removed for 2 years with no success.  I made a last ditch effort not expecting to be successful at all...    Of course, after I added a bunch of new accounts, I was informed of the great news that the charge-off would be deleted (this was Feb. 2019).   My 'dirty' report scores weren't affected at all really by the addition of so many new accounts (there is, apparently, no AoYA penalty for new accounts on dirty reports).  As soon as my reports were clean - I was hit hard with the new account penalty and the reductions in AoORA (age of oldest revolving account) and AAoA.     My scores are also much more sensitive to utilization than they were when I was on a dirty scorecard.    There is also the factor of transitioning from a dirty scorecard to a clean scorecard -- referred to as Segmentation/Scorecard Reassignment/Rebucketing  (it's deep, there are many posts you can read on it if you use the search tool with those terms - it'll make your head spin).    So.. my biggest gain came this month, exactly a year later - when my youngest revolver hit 1 year and my AAoA hit the 3 year mark. 

 


@capableflower wrote:

Would you consider it to be a good idea for me to ask DH to put me as an AU on antoher one of his credit cards to help or is it not needed in this case?

 


 

If it's a significantly older account with a consistently low balance in relation to its credit limit -- sure, it will help.  But it's not necessary.  You really just need time to allow your primary accounts to age.    My AU helped tremendously when I first started my rebuild because the only revolver I had was the charge-off which was a little less than 4 years old at the time  (though I had a bunch of student loans that were about 5 years old).   I had to add new revolving accounts to establish a good payment history.  So adding an AU that was, at the time, 7 years old gave me ~20 point boost.   Now, my AU is worth maybe 5 points as an age factor (I know this because my AU only appears on EX & EQ --  and my TU score is no longer far behind).   It's up to you - it's not necessary, but could be helpful in the short term - scorewise. 

 


@capableflower wrote:

 

LOL!!!! This is the collection from Midland that was attached to the Best Buy charge-off. It's going to fall off in April. 


Haha... OK I remember this one now...   *sigh*--what a thorn it is!   Thankfully, it will be gone very soon.  Hang in there!

 


@capableflower wrote:

You're totally fine! Smiley Happy You could never be annoying.


Awww.... thanks! Smiley Tongue

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 02/2020: EX 780 ✦ EQ 758 ✦ TU 781
Current FICO 9s | 02/2020: EX 793 ✦ EQ 780 ✦ TU 778
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 3.0 years not incl. AU / 3.3 years incl. AU
My AoOA: 7.0 years not incl. AU / 9.0 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 50 of 59
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