Hello All,
Especially The Credit Warriors.. Should have you all around a table with a beer with my Credit File in Hand!
@Anonymous @Anonymous @AllZero @Anonymous @AndySoCal
Its no secret that I need to gain one point on my midscore to get to 700. I have two Credit reports in comparison. One from 10/2020 and one from a pull today. I LOST 3 points. Interestingly, the only difference in the reports is a HIGH INSTALLMENT BALANCE reason. The former report doesnt have it. The current report does. I HAVE NOT ACCRUED ANYMORE DEBT!!! Not to mention, my debt has actually went down due to payments over the month. I have no idea what gives, Any advice is appreciated. Also to note, I am at AZEO and I have 3 New Revolvers opened 6/2020, 7/2020, and 7/2020. I have a stubborn late I cannot GW 10 months ago. (Will i get a bump at 12 months) I am pulling the Credit 02/01/2020.
Starting Score: 614
No No Nio.. There are no Collections and Public Records. Is it possible to have 8 Public records. lolol.. Those are the Number Tabs that each of those items are on.
@UpAndComing74 Inquiries:
What was the before and after?
Did you gain one; 14 -> 15?
Is that on TransUnion?
I'm not sure what the max penalty count threshold is for inquiries per bureau, where one stops incurring points loss.
Yes.. I gained 1 inquriery. It was 14 last month and now this month is reporting as 15.
And yes this is Trans Union
@UpAndComing74 wrote:Yes.. I gained 1 inquriery. It was 14 last month and now this month is reporting as 15.
You may recoup some points back after inquiry ages to 365 days. Do you have any that will come of age prior to your mortgage application?
For your reading pleasure Inquiry Master Thread - understanding inquiries and how the affect your credit score.
@UpAndComing74 wrote:Hello All,
Especially The Credit Warriors.. Should have you all around a table with a beer with my Credit File in Hand!
@Anonymous @Anonymous @AllZero @Anonymous @AndySoCal
Its no secret that I need to gain one point on my midscore to get to 700. I have two Credit reports in comparison. One from 10/2020 and one from a pull today. I LOST 3 points. Interestingly, the only difference in the reports is a HIGH INSTALLMENT BALANCE reason. The former report doesnt have it. The current report does. I HAVE NOT ACCRUED ANYMORE DEBT!!! Not to mention, my debt has actually went down due to payments over the month. I have no idea what gives, Any advice is appreciated. Also to note, I am at AZEO and I have 3 New Revolvers opened 6/2020, 7/2020, and 7/2020. I have a stubborn late I cannot GW 10 months ago. (Will i get a bump at 12 months) I am pulling the Credit 02/01/2020.
The Installment loan section shows increase in balance. You said you have made payments between the first report and second? There was no interest that increased the balance?
Is the new balance 42k or 40k?
Also, some reason codes are lower on the list and when one (or more) go away, another will take its place. Even with near perfect credit scores, there can be negative reason codes listed, so I would not be surprised that you handles something and then something else took it place.
Honestly in the mortgage section the negative reason codes look identical for both reports.
Mortgage scores *dispise* inquiries and new accounts. The longer the inquiries and new accounts age (preferably 1 year with NO new apps or accounts) the higher your mortgage score will go. Was the inquiry for a new account or a CLI? It shows 4 new accounts in past year and then 6 new accounts in past year between the CRs. Even non-revolvers count when it comes to new accounts.
Is the new report 4 or 6 accounts in the past year? Even if it went down to 4, it shows that inquiries increased between reports.
I would say the inquiries and new accounts need to halt and let them age until after you app for a mortgage. Once keys are in hand you can start apping again. This includes CLIs that require HPs. I would only do CLIs that are SPs.
You may gain some points when the late hits 12 months, but no new apps or accounts would be better.
Both reports show 3 accounts with lates, but you say you only have 1 late from 10 months ago. What are the other 2 derogs?
Good luck!
Edit: i think I may have been reading reports backwards? I wrote in some extras beneath each section for clarification.
@Anonymous wrote:
@UpAndComing74 wrote:Hello All,
Especially The Credit Warriors.. Should have you all around a table with a beer with my Credit File in Hand!
@Anonymous @Anonymous @AllZero @Anonymous @AndySoCal
Its no secret that I need to gain one point on my midscore to get to 700. I have two Credit reports in comparison. One from 10/2020 and one from a pull today. I LOST 3 points. Interestingly, the only difference in the reports is a HIGH INSTALLMENT BALANCE reason. The former report doesnt have it. The current report does. I HAVE NOT ACCRUED ANYMORE DEBT!!! Not to mention, my debt has actually went down due to payments over the month. I have no idea what gives, Any advice is appreciated. Also to note, I am at AZEO and I have 3 New Revolvers opened 6/2020, 7/2020, and 7/2020. I have a stubborn late I cannot GW 10 months ago. (Will i get a bump at 12 months) I am pulling the Credit 02/01/2020.
Thank you for your detailed response. Let me clarify to help you help me!~ lol. @Anonymous
The Installment loan section shows increase in balance. You said you have made payments between the first report and second? There was no interest that increased the balance?
Is the new balance 42k or 40k?
The new balance is 40K I paid 2K on auto loan to get it under 10 payments remaining for DTI purposes. So you see my dilemna. WHen the balance was higher, I didnt have the Loan Balance reason code. When the balance was lower..it popped up.
Also, some reason codes are lower on the list and when one (or more) go away, another will take its place. Even with near perfect credit scores, there can be negative reason codes listed, so I would not be surprised that you handles something and then something else took it place.
Honestly in the mortgage section the negative reason codes look identical for both reports.
True, Mortgage reasons are identical.. While neither one mentions balances. Nice find.
Mortgage scores *dispise* inquiries and new accounts. The longer the inquiries and new accounts age (preferably 1 year with NO new apps or accounts) the higher your mortgage score will go. Was the inquiry for a new account or a CLI? It shows 4 new accounts in past year and then 6 new accounts in past year between the CRs. Even non-revolvers count when it comes to new accounts.
Is the new report 4 or 6 accounts in the past year? Even if it went down to 4, it shows that inquiries increased between reports.
SPOT ON!! THe new report is 4 accounts as accounts opened in Oct, Nov 2019 are no longer factored. All these inquires were related to Mortgage shopping. I didnt realize the damage. My new Credit(Apple, Mercury, Navy Federal) were done to "improve" my profile. Didnt realize the hurt. Only time can help those i suppose. IS THERE A BUMP at 6 MONTHS that you know of? They were opened 6/2020, 7/2020, 7/2020. Do you think trying to remove some inquiries will help? I have nothing more to apply for until 02/2021.. when I pull the trigger on the mortgage.
I would say the inquiries and new accounts need to halt and let them age until after you app for a mortgage. Once keys are in hand you can start apping again. This includes CLIs that require HPs. I would only do CLIs that are SPs.
Understood TOTALLY!
You may gain some points when the late hits 12 months, but no new apps or accounts would be better.
Both reports show 3 accounts with lates, but you say you only have 1 late from 10 months ago. What are the other 2 derogs?
Security Finance-30 Day Lates(08/2017,09/2017, 10/2017, 11/2017) -60 Day Late (01/2018)
The months and the number of 30 day reporting is inaccurate. I have fought them up to the CFPB. They stand strong in their verifcation. I am afraid if I push further they will update all bureaus and last activty of a negative update will damage me more. In actuality it should be 30 day(08.2017, 10/2017,11/2017) 60 Day late (12/2017). I am not sure that its really hurting..given the length of time since deliquency. I am already approved for FHA with this derog.
As I am typing this.. this is directly during Hurricane Harvey. Maybe I have another leg to stand on.
Securtiy Finance 30 Day Late (01/2020)
Dont understand why this is here. But this is hurting the most as its within the year. GW hasnt succeeded(Probably cause I fought them on the above)
BofA- 30 Day Late(11/2017)
.
Good luck!
Edit: i think I may have been reading reports backwards? I wrote in some extras beneath each section for clarification.
