Trying to figure out my 'bucket' (almost 9 year file)

[jbh]

Hey,

I know that my GF has an au account that puts her in a 20+ year bucket. When EQ has no baddies it's near 770. So, it had me wondering what type of 'bucket' I would be in without a collection. With 4 cards reporting 50+% invididual utility (< 12% total) and 1 ca, my score is 666

Simulator shows that if I Pay off my cc's, I'm near 700 and since I was 682 2 months ago (before new accounts/util went up), it seems plausible. So here's the question...

When the CA falls off, will my score jump much higher since I already can hit 700 with a baddie? Or is it not related to being in a 'bucket' with higher ceilings?

Thanks

[RobertEG]

When will the CA fall off?  Yeah, a CA puts you in the bad bucket.

What is the DOFD with the OC that led to the CA? 

That is your CRA falloff date.  Do you know that date?

[marty56]

I am not a big fan of score bucket analysis.

It is possible for someone with less than a 10 year history to have scores in the 800's.  I know a person at work who is in her mid to late 20's that has scores above 800.

For people who have major derog, here is what I would do:

1.  Know when the derog will fall off.

2.  Do not apply for any new credit the last year of the derog and infact stop applying for new credit now.  Also do not do anything that will cause an on your report.  That includes cell phon, cable, bank account.

3.  Lower your util to 9% or less.  Only have 1 CC report a balance.

Doing this will insure that the only thing hurting your account is age and this will maximize your score recovery. 

I have a major derog that will fall off in about 4 years.  I have logicaly "frozen" my credit in that I will not apply for any new credit cards until it falls off, unless an emergency happens.  When that day comes, I really wont care jack about what score bucket I'm in since there wont be anything else to do with my credit other than manage what I have.

This may seem harsh or even overkill but anything worthwhile in life requires sacrifice and discipline.

Message Edited by marty56 on 11-08-2008 07:15 AM

[jbh]

Ca deleted on Experian after I dv'd them late last month...so it could delete this month or I will wait til may '09

Just wondering if I am due for a higher bump since I have the potential to reach near 700 with a derog. I figure if it was a younger file, that would not be the case.

Marty>>Great advice. However, just to clarify, I am trying to figure out/plan where the score would jump because I am simply curious.

Message Edited by jbh on 11-08-2008 07:08 AM