> FICO Score Change / Action Taken?

Discussion in 'Credit Talk' started by FedUp2003, Sep 22, 2003.

  1. FedUp2003

    FedUp2003 Well-Known Member

    FICO Score Change / Action Taken?


    I would like to ask anyone and everyone who has monitored their scores and has worked on cleaning up their CR's and raising their scores, if you could post in this thread things that you have done and how they affected your scores.

    Such as, your score before and after getting a negative TL completely removed, or getting some 30 day lates removed, or getting a Paid Collection removed, or paying down on your CC balances.

    Mostly, I'd like to see what getting a 6 year old Paid Collection removed would do, and what a 3 month old Paid Collection (that was only $48, but is now paid)... what having something like that removed would do.


    Originally posted by ShaleDC
    Well, I finally applied and was approved for an auto refinance. Went from 19.75% (BankOne) to 3.9% with Pentagon Fed Credit Union.

    Incidentally, my FICO (they pull equifax) was 665


    Incidentally, my scores were hovering around 585 to 600 until I paid off my credit cards in full last month. The difference, from going from 80% usage to 0% was about 60-70 points.

    EQ FAKO: 621>>693
    EQ FICO: 607>>665
    EX FAKO: 633>>663
    TU FACO=666>>???
    WK score of 20>>23)

    I pasted the above from another thread.

    Am I focusing too much on getting the Pd. Col's removed and should be more concerned with my usage amount and/or 30 day lates?

    What's hurting me the most?

    Would love to see some real world/actual results of others posted. Thanks in advance!

  2. melijane

    melijane Member

    Bump because I am interested in this too!
  3. FedUp2003

    FedUp2003 Well-Known Member

    Any takers?
  4. ccdscott

    ccdscott Active Member

    I think the Paid collection gone would have a bigger effect than the 30 day lates. I think collections, repos, and chargeoffs hurt more than 30 day and 60 day lates.

    For example, I had that illegal repo on my CRs, and when it finally came off of EQ, my score went up 30 points!

    It was the PG FAKO, but still, that was a huge jump. It was the only serious derogartory item I had one there, so...

    Also, when I tried the FICO simulator and simulated paying off my revolving cards, my score would only go up 20 points. Alot, but not as much as geting one of those big "baddies" removed.
  5. trish6103

    trish6103 Well-Known Member

    I know this is not exactly what you are looking for, but I had a 14 point drop by having a collection account added. It was only $61.
  6. FedUp2003

    FedUp2003 Well-Known Member

    This is Exactly what I'm looking for,

    Actual facts, whether good or bad, and how it raised or lowered your score.

    I think you are the same person that I have posted a few replies to some of your posts.

    I think you are the one that posted a CR that had about 10 Collection accounts or so, and yet your scores did not seem to be as bad as I would have thought.

    You said you received a 14 point drop for a $61 Collection.

    I have 2 Paid Collections, one reported back in Feb of 1998 - that should have never been reported because it was Paid off to the OC before the CA should have ever reported it...

    And I had a $48 Paid Collection added. I was being billed for a $48 auto tax bill for 2002 for a car I got rid of in 2001, yet the tax dept. kept billing me. Little did I know but they turned it over to a CA, and within a few days of that happening, I was due to renew the plates for my current car. I could not renew because the tax dept. but a "hold" on me cause of that $48 tax bill, so I was forced to go downtown and pay that $48 bill, bring the receipt back to the DMV, and then I could renew my plates for the normal $20 fee.

    Well, a month later I checked my CR and there was a Paid Collection sitting there for $48!!! I just don't understand how they got away with that.

    Anyhow, that's all I really got against me, except some 30 days several months back because I had lost my job, and also because of the lack of income, I used up all my credit cards so my usage is near 100 percent ... all factors considered by FICO.

    The reason I'm looking for info. is because I'm trying to decide what's most important to fix first.

    You talk to people around here, and most say that ANY kind of Collection, Paid or not, is a BIG negative, but it seems one of them only cost you 14 points, and with my 2 Paid ones, I'm beginning to think the past 30 day lates and my high usage to CL's is my biggest killer.

    Thanks for the info, and still asking for more input from other posters!!
  7. jaytee

    jaytee Well-Known Member

    i paid off almost all my credit cards and went from 619 to 694 in 4 months. a little more and i should be at 740.

    by looking at models and reading many articles, it looks like you shouldnt go to 0% usage. you should leave about 2% usage on credit cards that have limits reported.

    also the pg fako seems to be the same as fico to me. i dont have any negatives though and that could be why. yesterday my fako was 695 and fico 694.
  8. FedUp2003

    FedUp2003 Well-Known Member

    Note to Self:

    Must concentrate on paying down balances; don't sweat a 6 year old Paid Collection.

    Must concentrate... pay down balances....

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