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Paying off card = no change in FICO score?

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jnc
Contributor

Re: Paying off card = no change in FICO score?

Charged off card was dropped from his report. No score change alert. Smiley Sad

Apparently the one and only way to change his score will be paying down the high balance card.

I am working on that anyway but I'm still surprised that I don't see ANY change at all with the other improvements I'm making.

 

-C-

J & C
Message 11 of 15
jnc
Contributor

Re: Paying off card = no change in FICO score?

Btw, I forgot to mention (if anyone is still paying attention here)... He also had a HP show up last month (from joining a local credit union). That didn't ding his score at all. He had zero HPs before that so I would've thought it would make a difference as well (albeit a negative one).  Not that I want to complain about this particular lack of score change Smiley Wink

 

But I'm beginning to think equifax has just decided to glue us into a 673 forever! Smiley Wink

J & C
Message 12 of 15
jnc
Contributor

Re: Paying off card = no change in FICO score?

Yay! The score finally moved! 680 today!

I'm not sure what it was that caused the change. My best guess is, getting the charged off card off the report.
Because the card I made a 5k payment to hasn't had the statement cut for the month yet. That shouldn't post until after the 20th.

Fingers crossed that makes a difference too!

 

I'm just glad to see some movement again, finally!!

 

Smiley Happy

C

 

J & C
Message 13 of 15
Hopingforamortgage
Contributor

Re: Paying off card = no change in FICO score?

Congratulations. I love seeing those marker numbers like 680! Bring on the 700!
Message 14 of 15
jnc
Contributor

Re: Paying off card = no change in FICO score?

Thanks!

 

That is my goal.... to get his scores up to 700+ before we apply for a mortgage, in about a year.

J & C
Message 15 of 15
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