I've been at this credit repair/any credit/better credit business for a little over two years now. This board and the people who contribute have been a blessing. Although we can optimize our credit by following a few rules, I'm even more convinced that the credit bureaus can make or break you due to their sometimes more than incompetent reporting (I'm being nice when I use the word sometimes). I've watched my reports thru the various methods, and whenever they report something in error that I know will effect my credit, I'm on them like ..., well, you know what I mean. I just checked my Privista report (Equifax) and my score has dropped about 40 points in the last two weeks or so. One of the reason - recent change of address. I've been at the same address for 20 years. But they somehow threw a couple of extra characters in the middle of the address line (something only a computer would make any sense out of [I'm serious] because no human would) and they considered this a change of address! I could go on and on here, but I won't. Just don't let your guard down ...
In my opinion, changing addresses, especially frequently, will kill your scores, and make potential creditors suspicious. Probably the ideal address is when you own your house and you've lived there for 20 years.
11*I'm even more convinced that the credit bureaus can make or break you due to their sometimes more than incompetent reporting 2*my score has dropped about 40 points in the last two weeks or so. One of the reason - recent change of address. I've been at the same address for 20 years. But they somehow threw a couple of extra characters in the middle of the address line (something only a computer would make any sense out of [I'm serious] because no human would) and they considered this a change of address! I could go on and on here, but I won't. Just don't let your guard down ... jsever ================== 1*You are rite: Scoring is not a measure of our credit worth. It is a way to penalize us for their Incompetence. 2*There is just no end to it. This alone shows that scoring ain't nothing but a farce.
I have always known that this scoring model they use is completely garbage, but losing that many points just for moving is insane. What if you are in the military? What if you are a young professional are getting promoted every few years? FICO scoring = complete nonsense.
from myfico.com What do FICO scores ignore? - Your race, color, religion, national origin, sex, or marital status. - Your age. - Your salary, occupation, title, employer, date employed, or employment history. - Where you live. - Any interest rate being charged on a particular credit card or other account. - Certain types of inquiries (such as promotional, account review, insurance or employment-related inquiries). - Any information not found in your credit report. - Any information that is not proven to be predictive of future credit performance. My fico dropped 30 points this weekend, and there was no discernable change. EXCEPT for, I looked at my credit watch account and noticed a tradeline update. RMA updated an account to make it look like it was just placed for collections. I would not have noticed it otherwise...this dropped my score 30+ points and added a new line in the FICO explanations stating 'you have recent collections that were assigned' blah blah. This could be what happened to you.
