@calyx wrote:
@Anonymous wrote:
@calyx wrote:
And just to make it even more fun (and confusing) at any given time, I'll have bureaus list the installment loan amounts/paydown as both a "negative" and "positive" factor at the same time.Just a FYI positive reason codes have no bearing at all on Fico scores, just negative ones... so any "positive" factor that you're being shown is just fluff and doesn't be viewed as something that's increasing a Fico score.
Oh, absolutely, but it can still give me a giggle
That's good to know. So next time I see " No missed payments", "recent card usage" and "low revolving usage" I'll disregard that, . Absolutely no positive bearing on Fico scores. 😐
@Anonymous wrote:
I asked a similar question. I was curious as to how my high utilization student loans were affecting my score.
The answer I got from the folks here was that it's not stopping an ideal profile from being over 800. I think they said it was probably only ~30 points.
This makes sense because my current score is with the multiple >100% util loans and a 90 day late. Our profiles look very similar too.
If you have any lates left from before the default, that's costing you more points. You could try disputing them to try to get them removed.
All of my late payments were removed last year when they hit the 7 year mark. I got lucky enough to start my rebuild right when all of my bad stuff was going to fall off anyways. At the time I rehabbed the loan, I honestly didn't give a hoot about my credit, but it was only $5/month to bring it back to good standing, so I figured why not?
I have no lates (except EQ because they're idiots and won't remove the 30 day late, even by request of the OC), no collections, just a lot of new accounts. I went a little app crazy when all my baddies fell off LOL.
30 points is a lot! I'd be in the high 700's with 30 points! I only have the one loan that's over 100%. Everything else is below the original amount, but my car loan is new, so that one is still pretty high.
@Anonymous wrote:
Yes, 30 points can be a lot below a certain score but you're also not getting it back until you pay off the loan. Although I think there is some small gain by paying it down to the next util threshold, I believe the biggest gain still isn't until below 8.9% (??).
If you have no lates, I know you're scored differently. But I seem to have just as many inquiries as you. I'm curious why there is such a big point difference between us.
Probably because you have 5 accounts and I have about 13 new accounts in the past year LOL. My AAoA is around 2 years and 6 months? Yours is 10 years so that's a big difference and definitely matters! My AoOA is 12 years and 7 months old, which is the student loan. History is a big factor when it comes to your score, and I just have way too many new accounts. My newest account barely hit 3 months. I'm 100% determined to stop applying for anything any time soon.
@Anonymous wrote:
Okay, I see. Thanks. I was looking at your inquiries. 5/6 of my cards are less than 2 yrs old and my car lease is pretty new but I guess my student loans counteract any new stuff for my age.
Did you only have the inquiry for the first AMEX or were there any for the other two?
Only 1 inquiry for all 3! The first one I got was the Blue Cash Everyday, then I apped for the Blue Cash Preferred (which is the one I actually wanted), and then the Everyday Preferred. I did make sure I was pre-approved for those before applying. If you're already an AMEX holder, you can just click on any one of their cards when you're logged in and hit apply. A page will come up saying either "Congratulations, "Insert name here"! You're Pre-Approved!" or something like "Expanding your membership with us is easy" which means you're not pre-approved.
