They sure can be strict

[MattH]

I just played around with the FICO Score Simulator, and from my current scores
(EX 826, EQ 786, TU 796), even fairly minor dings would have quite an impact!

Starting from my 796 TU it says:

Missing ONE of my payments for this month: 691 to 741

Missing ALL of my payments for this month: 651 to 711

Maxing out all my cards: 676 to 726
(this would be quite a shopping spree since my limits total > $50K)

Taking out an auto loan of $25K: 756 to 786

Not that I plan on doing any of the above, but still I was surprised how much impact
they would have. I suppose doing more than one of the above would take me down into
subprime territory.

[Anonymous]

Matt, payment history accounts for 35% of your FICO score. It's the most important category of 5.

[haulingthescoreup]

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@MattH wrote:
I just played around with the FICO Score Simulator, and from my current scores
(EX 826, EQ 786, TU 796), even fairly minor dings would have quite an impact!

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Lates are dang near fatal for anyone, especially when they first hit, but when your scores are up in the nose-bleed altitudes like yours, they are just devastating. Same for maxing. The car loan is kind of ehhh.

Since FICO scoring is on a bell curve, you definitely get exaggerated effects from changes on your reports when you're way out on the end like that. What a nice problem to have, though!


edit to add: Syl, what's with the FUTR change on your siggy? Are you flying under the radar with someone?

Message Edited by haulingthescoreup on 04-06-2008 06:55 AM

[Anonymous]

Why yes I am Hauling.

I've been flying way over the radar since October. Time to come out of Mach 2, and fly at biplane speeds.

Just trying to keep the utils low, and eliminate the inq's, you know?

There's not one cc I have an eye on. Quite the contrary. I have an eye on 3 cards I have that I'm going to close between now and July 1.

[haulingthescoreup]

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@Anonymous wrote:

Quite the contrary. I have an eye on 3 cards I have that I'm going to close between now and July 1.

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Oooooo! Sylvia has the machete out, and sharpened!

Looking forward to reading about this one.

Message Edited by haulingthescoreup on 04-06-2008 10:05 AM

[Anonymous]

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@haulingthescoreup wrote:

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@Anonymous wrote:

Quite the contrary. I have an eye on 3 cards I have that I'm going to close between now and July 1.

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Oooooo! Sylvia has the machete out, and sharpened!

Looking forward to reading about this one.

Message Edited by haulingthescoreup on 04-06-2008 10:05 AM

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LOLOL!! I love your wit and sense of humor. I'll tell you all the juicy details when I've done it.