Share your Fico scoring model fails

[Anonymous]

Let me tell you guys. I, to this day dont understand how the scoring models are fair or good to project someones credit worthiness.

Here is a fine example. 

For 6  1/2 years i had a 80 dollar collection item on my report. It was paid but it held my score down for almost all those years.

Just recently that and only that small item fell off due to statue of limitations and guess what happened.

Equifax 721 - 773    52 point jump

Experian 735 - 780   45 point jump

Transunion 729 - 769   40 point jump

 Dont get me wrong im very very happy about the scores, but to me it shows,  that while i have been a good and on time paying citizen for 6 years. A tiny little thing can hold you back for an eternity.

I have learned my lesson 2 years after the collection put paying the prize this long i crazy talk lol 

Do you guys have any weird score jumps like mine

[Anonymous]

My score jumps around 20 points when I have a balance (1-9%), compared to having 0 balance! one would think it should be the opposite

[Anonymous]

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@Anonymous wrote:

Let me tell you guys. I, to this day dont understand how the scoring models are fair or good to project someones credit worthiness.

Here is a fine example. 

For 6  1/2 years i had a 80 dollar collection item on my report. It was paid but it held my score down for almost all those years.

Just recently that and only that small item fell off due to statue of limitations and guess what happened.

Equifax 721 - 773    52 point jump

Experian 735 - 780   45 point jump

Transunion 729 - 769   40 point jump

 Dont get me wrong im very very happy about the scores, but to me it shows,  that while i have been a good and on time paying citizen for 6 years. A tiny little thing can hold you back for an eternity.

I have learned my lesson 2 years after the collection put paying the prize this long i crazy talk lol 

Do you guys have any weird score jumps like mine

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My score is punished around 10 points for not having all of my cards at $0 but one (AZEO). Most of my balances are ~$10, and then my Discover and Amex are around $100-$200, but I still get punished for "using too much of my credit" in terms of the number of cards. I PIF, haha.

I guess I also applied for a 2nd BoA HP CLI within 3 months of the first...stupid me, not being patient for 6+ months and wasting it 

[Anonymous]

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@AnonymousLet me tell you guys. I, to this day dont understand how the scoring models are fair or good to project someones credit worthiness.

Here is a fine example. 

For 6  1/2 years i had a 80 dollar collection item on my report. It was paid but it held my score down for almost all those years.

Just recently that and only that small item fell off due to statue of limitations and guess what happened.

Equifax 721 - 773    52 point jump

Experian 735 - 780   45 point jump

Transunion 729 - 769   40 point jump

 Dont get me wrong im very very happy about the scores, but to me it shows,  that while i have been a good and on time paying citizen for 6 years. A tiny little thing can hold you back for an eternity.

I have learned my lesson 2 years after the collection put paying the prize this long i crazy talk lol 

Do you guys have any weird score jumps like mine

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While this isn't the response you probably want to hear, I'll offer my opinion.  I think it's perfectly reasonable that the collection was holding your scores back that amount of points for that amount of years.  A collection is a major negative item.  It's not about the dollar amount, it's the principle.  In fact, a debt so small that ends up as a collection could be argued is actually a bigger deal than a larger debt, as almost anyone if they wanted to could come up with 80 bucks.  Any time someone has a major negative item present, it's an indicator that they're more likely to exhibit the same behavior again over someone that doesn't have a major negative item present.  FICO scoring has taken this into consideration and they've assigned 7 years as being an acceptable time for such negatives to adversely impact score.  I personally have no problem with this and feel it's perfectly fair.

That being said, your scores both with and without that negative item present were/are essentially equal in terms of what they'll allow you to obtain credit wise.  Since your profile was otherwise strong, that 6+ year old negative while still present and holding your scores back would not have kept you from obtaining credit at a top-notch rate.  This being the case, I would say the FICO algorithm was spot on with respect to your score/profile.