Sycamore Posted December 14, 2004 Report Share Posted December 14, 2004 Just kind of venting here....I've been working on my credit off and on for 2 years. In those 2 years, I have been able to remove around 10 collections, about 6 or 7 charge-offs, several 120, 90, and 60 day lates. I've also managed to get 4 new credit cards (all with low limits) and a car loan. The car loan is one year old and has zero lates. One credit card is 4 years old and has one 30-day late back in early 2002. One credit card is 2 years old and has a 30-day late in Sept. 2003. The other 2 cards are about a year old and are clean. utilization is around 50% at the moment but is usually lower. I also have a student loan that has never been late (it is 10 years old).The problem is that despite all of my successes, I have not had any significant score improvements with ANY of the 3 CRAs. In fact, TU has lowered my score significantly in the last 8 months since my last round of disputes got rid of several derogs. I don't understand.Only 1 new inquiry in the last year, by the way. Now I do still have some derogs on my reports, but nothing is new. They have been there all along and I've been working on getting them off, to no avail. No new derogs at all in the last year or more, but many old ones have been removed. Scores for all 3 CRAs are in the 500's. They have varied from low 500's to high 500's and back again. I've YET to crack 600. Right now TU is at 537 and the only derogs on that report are 4 30-day lates (from 1 to 4 years ago), 1 paid charge off from 2000, and 1 charge off with a balance of $459 with a DOLA of 1/2002. Back in April, my score was 598 and I had 4 collections, 3 charge-offs, 2 120+ lates, 1 60 day late, and 5 30 day lates. My oldest accounts are in good standing and are still on the report, so age shouldn't have played a factor. EQ and EX have had similar deletions but scores have gone up slightly. They are still just 582 and 577 respectively though. Two years ago when I started this whole process and had TONS of derogs on all the reports, my scores were all mid 500's. So the deletions have not helped AT ALL.I feel like I've made so much progress, considering all the deletions I've had, yet I really haven't if you only look at my scores. What else can I possibly do? Anyone else experience this?PS These scores are actual FICO scores, not FAKO. Link to comment Share on other sites More sharing options...
direred Posted December 14, 2004 Report Share Posted December 14, 2004 Don't worry too much about it. I've had derogs removed with zero point increase, and I've had derogs removed with point drops because of age.That said, I've also had a deletion that increased my FICO 63 points on one bureau, 57 points on another, and only 15 on the third.No, it doesn't make sense. Link to comment Share on other sites More sharing options...
DocDon Posted December 14, 2004 Report Share Posted December 14, 2004 You have made improvements just by getting the negative remarks removed.When that happened, your score increased, allowing you get the new credit. Now with some current lates, and utilization above 30%, your score has been reduced.Direred said, "it makes no sense". That's very true. Even if you remove a negative tradline from your report, your score may drop because you lost the history of the account (even though it's bad) because FICO counts on history as a major factor in its score.Keep paying on time. Keep working on removing negs. Keep utilization below 30%. You'll find your credit picture will start to take shape. Link to comment Share on other sites More sharing options...
crod Posted December 16, 2004 Report Share Posted December 16, 2004 Remember, credit is scored in 2 year windows. If the derog's date of last deliquiency was more than 2 years ago, you may not see any increase in your score, because it no longer has an effect on your score. I will try ot down load the presentation so you can see. Link to comment Share on other sites More sharing options...
prokrg Posted December 17, 2004 Report Share Posted December 17, 2004 Is credit scored in 2 year windows? Does that mean a 2 year old late has very little impact on fico scores? Link to comment Share on other sites More sharing options...
DocDon Posted December 17, 2004 Report Share Posted December 17, 2004 It decreases in impact after 24 months. If it lost all its effectiveness, there wouldn't be much a reason to keep it on you report for 7 years... Link to comment Share on other sites More sharing options...
jordanmorganusa Posted December 17, 2004 Report Share Posted December 17, 2004 Don't forget that a lot of CA's report (in the account section) collections as open, as installments/revolving, with balances, etc. So when they are deleted they drop your score because FICO has been calcutating them as regular accounts. After the rest of the class action I'm going after them for this, too. Link to comment Share on other sites More sharing options...
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