Well, I got 35 pts back last week, only to lose 43 today. My Amex optima showed up today. 4000 balance (due to BT) on a $12000 limit. Also, a $3000 balance showed up on the GM card. I find it very interesting that new balances show up real quick, but payments take forever. As for the Amex. I got the Optima in August and it jsut reported today. My gold Delta Skymiles from May is still not reporting on any cra. So, it looks like I need to make some large payments here soon to get my score back up.
man I wish my scores dropped for reasons like this, and not for charge-offs and such :/ (just trollin' your post =] )
You'll get there. Just keep on working it. But believe me, a loss of 43 pts for whatever reason really sucks.
Don't you hate that? We've seen the same thing, takes forever to report when the balances go down, but man do they ever get a high balance on there in a hurry. It's a pain sometimes, that balance between wanting to keep the scores good and wanting to save money by taking full advantage of the promo deals. FWIW, there's something you might check. With EQ we've had 20ish point drops for 2 things. Going from 5 to 6 revolving accounts with balances (regardless of amount) and having any single individual account at or over 50%. We maxed our HH GM accounts when we got them (can't resist those 0% deals), thinking we were going to pay off just over 50% before the statement date to keep from taking the hit. They surprised us. According to another creditnetter, HH reports based on your end of the month balance rather than your statement balance. Anyway, having seen those two issues a couple of times has made it a bit easier for us to balance. Don't know if this is any help to you at all, as I said, it's just FWIW. DemPooches
What is the deal with that??? I paid off several balances at the end of August, they have yet to post the 0 balance on my reports! I'm sure if I used the cards, that would be the exact time that they decided to update my reports. Will the CRA's update the information if you send in a copy of your statements directly?
I just checked and I went from 7 to 8 showing balances. This is inaccurate though, as 2 that show balances I'm waiting to update to 0. That leaves 6 with balances, 3 of which are less than $50 owed. I was waiting for 1 to hit 2 years and 1 to hit 3 years before closing them, but I may just close them now. Even if I don't close them, I'm going to pay 4 off and pay a good amount on the amex and gm accts. Hopefully that will cause a good jump in score. Thanks for the info.
No, they won't. But we have disputed the balances before and THEN the CRA does contact the CCC and it gets updated. It's a pain in the butt, but at least it can get the job done. (and it usually doesn't take the whole 30 days.) DemPooches
LKH, Don't feel bad, I just lost 50 (badly needed points) just because my Target Visa started to report (Zero Balance) -Sal
That is horrible!! Would you mind sharing which CRA and what your report looks like otherwise? I have never heard anyone mention having this happen before. (Unless of course it's TU...and there is absolutely no rhyme or reason whatsoever to their scoring.) DemPooches
DemPooches, My score sucked as it is (under 600 on experian) now I'm suddenly closing in on the 400's simply because a new account is showing up with a zero balance. 1.)My report has two 4 year old CO's(Sears and HHB) and several old school loans which defaulted in 99 (now in rehab). 2.) Numerous positives positives including Amex Gold Charge and Optima Platinum. Oh well -Sal P.S. you know what, I'm still embarrased about my credit score!!!!
Experian scores are just goofy anyways. I wouldnt pay attention to that as your creditworthiness... kev
Thanks for sharing that info. And stop being embarrassed! We all start where we start. You're working hard to re-establish your creditworthiness. You're doing things right. THAT is what matters. Keep at it and you'll get to where you want to be. It's not quick as you well know, but you WILL get there. DemPooches
400's!!!!!!!!!! That is awful! YOu gotta be jokin! How are you going to recover from that? Just because a new account is reported WITH a ZERO balance?? This credit scoring thing simply doesn't make since. Do you think it is because of the debt to income ratio? or perhaps you should put a small balance on it? This is scary because my scores are around 622 and I need to get them up, but have no idea on how to do that. Certainly don't want to add a trade line and have it drop into the 400's.
I lost about 50 points also. And I agree that it seems that new accounts with balances show up in no time. 0 balances take forever it seems. It would take all of my time to figure out the timing of these things and then it would never make any sense. Unfortunately, I binged on new accounts when Discover denied me for the third time. While I was binging, I wrote Discover via PFB. Guess what! They called me, overrode the computer data (you know, the program that only uses data and no common sense) and approved me! By then my credit bing landed me 4 new accounts, which also surprised me. So, to cut it short, In my attempt to get 1 account, I ended up with 5 new accounts!
Thanks for the condolences. LOL. Sal, just keep working it and you'll get there. It took me from March of 2001, when I actually started full speed with the cleanup, til January of 02. So it took me about 11 months and I had the benefit of a lawsuit against the exp. affiliate to wipe out quite a few. So, just keep at it. You'll get where you want to be.
I lost in the neighborhood of 45 points (I can't remember exactly) when a loan hit my EX, but I gained 8 points on EQ and 0 on TU. I got the loan to up my scores, go figure. I even only had 58% of the original loan balance being reported. Charlie
LOLOL Dear friends at CRA, Well here we are again. It's that time again to redispute this stupid listing on my credit report, please investigate and report accurately. See ya next month. lol
