My CE score has gone up 41 pts. by increasing my % of available credit by 29%. Oh, of course the 1 pt. I got for the gulf state deletion is included in that.
Yes, don't forget that generous 1 point! I got 7 whole points for deleting the 11 negative items! Who do you know to get an entire point for each one item? I think they owe me 4 points! Congrats on the +41 points. Seems to confirm what I keep seeing here about the ratios being so important.
If you read my post a while back...I PAID OFF $30,000+ IN ONE MONTH...AND LOST F.I.C.O. POINTS!!! FIRE THE SCORE KEEPER!!!
Methinks he lost Empirica points instead. Irrespective of that, it is curious that someone could pay off $30k and suffer a hit -- no matter which company's scoring model is being employed. What in the world could that be about? Bkev, can you shed any light on this bit of darkness? This one stumps the panel, I think. Doc
Glenn King tells me.... Just kidding Doc. If you didn't realize, payment amounts do not seem to factor into the scoring system... It's current balance that matters. The only payment information that seems to be historically track by FICO is late pays. So, it doesn't really matter if I pay all of my credit card bill every month. It matters what the balance is when the update is sent to the credit reporting agency. George could pay $30K, $70K or $100K it doesn't matter... what matters is the balance reported to cras and the credit ratio. Did he actually pay $30K or shift it to another account? Did his ratios change? Did he get new accounts? It's a model, not a line item thing..... I know it sucks, don't blame me, I didn't do it.
Bkev does seem to be right on that. Eventhough a $30.000 payment was made, GEORGE did not say if that was a shift between accounts or actually that $30.000 of debt was paid off outright.
On the subject - my creditexpert score went up 9 points, and the only difference was a balance transfer I did reducing my debt by 1500 (from about 5000 to 3500). The card I transferred money from was so new, it hadn't been reported yet. So the only thing that changed was my debt/credit ratio.
IT'S TIME TO GET RID OF SCORES...REAL OR FAKE. Go back to the "OLDEN" days...perfect payment history since 1978...$100,000+ household income...APPROVED... F.I.C.O. 685-704 DENIED...OTHERS WITH 1/3 THE INCOME AND <650 APPROVED?!?!?
George... not that I work for FICO or anyone else, but when you paid this $30K did you charge another $30K or did the balance for the account show $0? BTW, I think most of us would like to talk with you about a loan.....
Good point George! I guess it is set to only generate random scores between 500 and 725! Maybe they have a setting on the Random Number Generator Thingy that can adjust the difficulty level of "The Game", just like my kids computer math games! That might account for daily unexplained changes.
