@fused wrote:
I'm trying to find more information on the updating bug in FICO scoring. Like I said, paying a collection doesn't improve or hurt scores because balances and util don't factor in. They do in CO's. What is your current overall and individual util, including this CO? What will it be when the CO reports a paid balance?
I honestly think the bug is in the date itself. In my opinion, the system should be designed NOT to based scoring on the DOLA, but, rather, on the DOFD, and leave it at that! It's a really sad thing that the folks at FI are aware of the issue, and not addressing it. Not only bad for consumers trying to do the right thing, but, bad for business as well, because it makes folks apprehensive to pay, so, they don't! Now, back to myself...my overall utilization? Well, I have two vehicle loans open, now somewhere around 50k? As far as credit cards, I'm doing very well with those. I'm an AU on one of my family business accounts, which is around $3k (20-something percent) & not my debt, but, I'm not sure how much that matters. On my cards, I think I owe around $2500 on all my cards combined...which, is no more than 10-15%. All together, including the AU account, my load is very low, and I'm even paying the $2500 down to about $1000; I plan to stay at no more than $1000-2000.
