What's more hurtful; High Utilization in CO or Recency of Delinquency

[johnpalley]

cheddar, so why did my score go down? im so confused right now.

Message Edited by johnpalley on 08-12-2008 09:16 PM

[Anonymous]

johnpalley wrote:
cheddar, so why do you think my score went down?

I don't know.  Did anything else change in the meantime?  Did you have a higher balance report on a CC or something along those lines?

[johnpalley]

the only other thing that i have going on right now is that i disputed 5 other charge offs but the disputes arent over and nothing has been changed on any other account. im hearing mixed thing from different people on these forum. i think it was the other moderator fused, i think that was his name. he said the exact opposite that you said. he said if they start reporting again your score goes down. so once and for all which is it? are you 100% sure on this?

Message Edited by johnpalley on 08-12-2008 09:24 PM

[Anonymous]

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johnpalley wrote:
the only other thing that i have going on right now is that i disputed 5 other charge offs but the disputes arent over and nothing has been changed on any other account.

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That changes everything.  When you dispute certain accounts, certain aspects of those accounts are removed from scoring while the dispute is in progress.  "Unexplained" score changes are quite common when you have disputes in progress, due to these accounts no longer being counted in some aspects of FICO scoring while they are marked as in dispute.

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johnpalley wrote:
so once and for all which is it? are you 100% sure on this?

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Here is what we are 100% sure on:

For scoring purposes, COs are dated from the DOLA.  Making a payment on a CO may update the DOLA, causing it to be scored as a more recent derog.  That may be what fused was referring to.

Disputing a CO and having it verified normally does not update DOLA, but only Date Reported.  This should not affect your score.

Like I said, though, if you have five open disputes, then your score change could be from any number of factors.  Wait until your disputes are completed, and then see where your score stands at that point.

[johnpalley]

cheddar , you just made me so happy!! thank you so much for the info. the thing that confused me is that i got an alert from score watch that said investigation complete on my amex account and in that same alert it said my score went down 19 points. the other thing i was thinking is if they werent counting any of my charge offs my score would go up like 75 points and not down because a have a few credit card accounts in perfect standing that are 6 years old with low balances. but i guess il just see what happens after every dispute is finished. Message Edited by johnpalley on 08-12-2008 09:49 PM

Message Edited by johnpalley on 08-12-2008 09:52 PM