Rebucketing

[Thomas_Thumb]

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@Anonymous wrote:

So is it even possible to get a higher score (I'm absolutely fine with low 700s) with a 120 showing, even if older.  I am so sad now.  I have been working so hard.  I've made great progress  --mid 400s to mid 600s, but I guess I may be stuck here for awhile.

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You can have scores in the low 700s with well aged 90 or 120 day lates just as you can with multiple tax liens. A score in the 700 to 740 range with everything else optimized is not uncommon. See link below for an approximation of scorecards and guestimates on associated score ceilings. 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/SCORECARDS/m-p/4361047#M102264

[Thomas_Thumb]

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@Anonymous wrote:

Very interesting read.  Never knew any of this.    So my fico just went up another 2 points and now at 795.  Does this mean when I hit 800 I will get dropped in another bucket and be down at the bottom where all the goo is?

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Scores do not influence what Scorecard (or bucket) your profile is assigned. However, your score range is based on your scorecard assignment.

[surferchris]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

So is it even possible to get a higher score (I'm absolutely fine with low 700s) with a 120 showing, even if older.  I am so sad now.  I have been working so hard.  I've made great progress  --mid 400s to mid 600s, but I guess I may be stuck here for awhile.

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You can have scores in the low 700s with well aged 90 or 120 day lates just as you can with multiple tax liens. A score in the 700 to 740 range with everything else optimized is not uncommon. See link below for an approximation of scorecards and guestimates on associated score ceilings. 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/SCORECARDS/m-p/4361047#M102264

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Thanks Thomas for all of the great information in your posts.

[Anonymous]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

So is it even possible to get a higher score (I'm absolutely fine with low 700s) with a 120 showing, even if older.  I am so sad now.  I have been working so hard.  I've made great progress  --mid 400s to mid 600s, but I guess I may be stuck here for awhile.

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You can have scores in the low 700s with well aged 90 or 120 day lates just as you can with multiple tax liens. A score in the 700 to 740 range with everything else optimized is not uncommon. See link below for an approximation of scorecards and guestimates on associated score ceilings. 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/SCORECARDS/m-p/4361047#M102264

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Thank you!! Very Informative!!

[Anonymous]

Thomas, bravo on those fico scores!!!  

[Anonymous]

Thomas, what is a score card assignment?  Never knew this!  Thx  I have no baddies.  With the new cc's, my AAOA is 4 yrs now.  Oldest is 37 yrs. (this is my old green Amex card)  But had opened many new accts 18 months ago.  Some more recent but not much. Newest could still be around the corner.  Waiting on 5/3 bank.  Ings:  TU - 2, EQ - 9, EX - 8.  Most will fall off in Dec.  With about a total of 5/6 remaining.  Middle fico is now up to 795.  Auto/moto loans are reporting below 70% total for both.  They added them together.  House is just below 90% now.  Is this what determines your bucket? 

[Revelate]

We had one user with a well-aged 90 day late and an otherwise envy-inducing file report a 785; singlular datapoint on FICO 8, not conclusive admittedly and it surprised pretty much everyone here at that time (1 year ago or so).

Deliquencies at any rate don't appear to be as damning as public records or collections.

Also from personal experience it's emminently possible to score decently: I hit 739 on EX FICO 8 7/1/15 during the mortgage process with a file with not much history compared to Inverse's EX 753 top score (in my case, AAOA 2 years, oldest account 7ish, one inquiry, minimal utilization on both revolving and installment and a tax lien, collection, and 30/60 late from 2010).  Without my collection as well which I gained ~5 points on when it came off might've gotten to 745.

[Thomas_Thumb]

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@Anonymous wrote:

Thomas, what is a score card assignment?  Never knew this!  Thx  I have no baddies.  With the new cc's, my AAOA is 4 yrs now.  Oldest is 37 yrs. (this is my old green Amex card)  But had opened many new accts 18 months ago.  Some more recent but not much. Newest could still be around the corner.  Waiting on 5/3 bank.  Ings:  TU - 2, EQ - 9, EX - 8.  Most will fall off in Dec.  With about a total of 5/6 remaining.  Middle fico is now up to 795.  Auto/moto loans are reporting below 70% total for both.  They added them together.  House is just below 90% now.  Is this what determines your bucket? 

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A scorecard is what some refer to as a bucket. I prefer to use the term scorecard. The Fico illustration is re-pasted below. Note the factors they list for scorecard segmentation. Scoring factors (such as CC utilization, # cards reporting and balance to loan ratio) are not used as scorecard segmentation factors.

[EW800]

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@Thomas_Thumb wrote:

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You can have scores in the low 700s with well aged 90 or 120 day lates just as you can with multiple tax liens. A score in the 700 to 740 range with everything else optimized is not uncommon. See link below for an approximation of scorecards and guestimates on associated score ceilings. 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/SCORECARDS/m-p/4361047#M102264

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I believe Thomas is spot-on.  I have a foreclosure and a credit card settlement (that shows 30/60/90/120 leading up to the settlement), however because of age and now several years of good behaviour, my FICO 8 scores are in the 735-ish range.  As a point of reference, it appears that FICO 9 may be a bit more forgiving of problems from years ago, or gives more credit for recent good behaviour, as my FICO 9 scores are all in the 780-790 range at the moment.  

[Anonymous]

I too think Thomas is correct. 1 year ago I had 21 Derogs owing $40K. Today I have 15 left (all paid now) with 10 of them them showing 120 days (1 repo and 1 foreclosure). ALL of this took place in 2010. So, 1 year ago before I started to work on fixing my situations my actual scores were in the 690 range. As they all had aged. However, since I chose to pay them off they reaged. Now, none of my DOFD changed, in 18 months they will be 100% gone. However, settling with them made them relevant again. My scores dropped to 540ish. Today I sit at 590ish. I have a Barclay's (Juniper) that hasn't updated yet. And is showing 160% of uti. I know I'll get a small bump from this. It does appear that 120's will age. However, the aging is from last activity.