Credit Scoring Factors

Credit scores come from a random number generator. It's just as likely that with a charge off or a few lates, your score might go up.

 

I ask for a "DONATION" of 2 F.I.C.O. points per answer...BUT nobody has paid yet!!!

 

I have told this story before...but...paid $30,000 in one month, LOST POINTS!!!

Others have had "BADDIES" deleted and LOST points...

--------->RANDOM NUMBER GENERATOR<-----------------

 

My scores were higher before starting any disputes resulting in the removal of derogs.

If I had left them alone I would be in the 700 club now.

All are falling faster to the 500 club

 

Spinning the bottle would be just as good or maybe even better.

 

Thats because the CRAs are taking everybodys points away from them.

After the CRAs get done with them folks don't have any points left to give you.


Sorry about Your Luck George !

 

Here is a related issue. When a negative shows up on your report, your existing credit card companies will use that as an excuse to raise your rates to 24%+. Then, when you get the negative off, the rates don't come down.

The moral is to never max out your cards because when a negative shows up on your report, you are dead meat.

With me, getting the paid collection removed ($50)did not affect my score even one point. But the high interest rates on my credit cards remain.

 

All joking aside, we don't know the exact formula. And the formula is tied to outside factors so the same credit profile one day will yield a different score the next day.

Keeping that in mind, If you have a nonperfect score, the score factors that they give you (in order) will tell you which factors are negatively factoring into your score. Work on the top factors and the score should improve.

 

That's the whole purpose of scoring