Score went DOWN and close to tears

Anonymous · ‎11-01-2011

I had 6 points to go to get my mortgage as of yesterday: Cut to this morning and I refresh my report: My score went DOWN 4 points. A credit card account in good standing that was only 5 years old that had been closed "dissapeared" from my report as of the 1st of November. Thanks MYFICO score simulator, and reporting system, for systematically DROPPING valid accounts. The fact that I have to continually pay at least once per month is indicative of the problems in this country. I HATE THIS SYSTEM AND ITS FASCIST WAYS!

Booner72 · ‎11-01-2011

Bummer! I'm sorry to hear this. Hopefully something else can get you where you need to be.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720

Ms-Kato · ‎11-02-2011

So sorry to hear this..Hey you can always try again ..Get another CC and reapply for the mortgage in a few months.

I know that's not what you want to hear but it's not the end and YOU WILL GET YOUR HOUSE !

Stay Strong..We are rooting for you .

llecs · ‎11-02-2011

@Anonymous wrote:
Thanks MYFICO score simulator, and reporting system, for systematically DROPPING valid accounts. The fact that I have to continually pay at least once per month is indicative of the problems in this country. I HATE THIS SYSTEM AND ITS FASCIST WAYS!

How did the MyFICO score simulator drop your account?

Anonymous · ‎11-02-2011

Remember, too, (and I'm sure you already know) that most mortgages (all that I've seen) look at all three FICO scores and run with the middle score.

Anonymous · ‎11-02-2011

Thanks everyone. Kind of ranting last night. Upset and drank too much wine! )

To answer the questions, since my TU 98 score from this site isn't the same as what my lender uses, I can't rely on that. Since I don't have my Experian score, I can't rely on that. The only reliable score of the 3 is Equifax and I want that to be over 640.

The score simulator didn't make my score go down obviously, but rather the predictions have never been very reliable.

I am resigned to my fate. Obviously I will have to wait a little longer to get my mortgage. This is my life. I didn't marry very well, did I? lol.

thanks to all for the help & support.... )

haulingthescoreup · ‎11-03-2011

Equifax is notorious for dropping closed accounts before 7 years.

And not a thing in the world you can do about it, either.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

Anonymous · ‎11-04-2011

That is ridiculous that Equifax is wantonly "allowed" to simply drop accounts before the time period that is mandated by law. What a crock!

llecs · ‎11-04-2011

@Anonymous wrote:
That is ridiculous that Equifax is wantonly "allowed" to simply drop accounts before the time period that is mandated by law. What a crock!

The FCRA doesn't mandate that positive TLs report up to 10 years. In fact (trust but verify) the FCRA doesn't place any limit or requirement on positive accounts, though it is customary to remove by 10 years.

From time to time positive accounts to drop early. Did you dispute any of these? That'll often lead to an early demise.

Anonymous · ‎11-04-2011

I have never disputed any positive accounts. This makes the 14th account that Equifax isn't reporting despite requests from the original creditors to re-report them. Not very good business in my opinion.