Discussion in 'Credit Talk' started by raiderpam, Nov 9, 2001.

  1. raiderpam

    raiderpam Well-Known Member

    Equifax removed 2 paid judgements and one chargeoff my score dropped from 599 to 561, I dont understand why,
  2. cariba

    cariba Well-Known Member

    Probably for the same reason I had two cc late pays and an inquiry drop off Experian today and I went from 640 to 645! I expected more!!!

  3. Nave

    Nave Well-Known Member

    Can't tell you why, but I have seen this happen before...many times. In fact many of those who I have seen get increases immediatley after a deletion of a derog, show only slight increases like a point or 2.

    Give it some time and check your score again (a week or so) and it will hopefully show an increase from the removal of the negatives. Let us know when (or if) such an increase in score does show.

    -Peace, Dave
  4. raiderpam

    raiderpam Well-Known Member

    yes ,but yours went up I lost almost 40 points
  5. KHM

    KHM Well-Known Member

    My score dropped 9 points on TU and nothing but positive things have happened in the past month since I got my score then.
    I got a CL increase of $1000, that card is at 50% available. I paid off one of my other cc's, that WAS 100% used, I got 1 late pay off of a closed auto loan, I had about 12 inquiries removed and an R9 changed to an R5. I have no new inquiries since my last TU report, yet I LOST 9 points. <shrugs> guess Fair Isaac isn't so fair afterall.
  6. raiderpam

    raiderpam Well-Known Member

    I searched back and found this post from bkev, and I think it is because of the accounts I disputed coming back verified with a new date. QUOTE...Below is the email I sent Christine at Bayhouse earlier... I thought everyone might like to know................................

    I just got some information that I thought was HIGHLY interesting and wanted to pass it along to you. I've read your website including the forum and several others, but NEVER heard this before now. I just got off the telephone with a fico supervisor. I've been asking why my score can jump 100 points in one month without any negative information being added to my file. I got him to make two amazing confessions&&

    I was floored when he told me this. Fair Isaac uses the date reported to age an account, not the date of any activity. Example& Let's say that we're looking an individual's credit report. We have copies from two months. Copy A shows a charge-off on an account on 8/1997, with the last reported date of 12/1997. Copy B shows the same account charged-off in 8/1997 but because it was investigated an updated in 4/01, Fair Isaac's formula uses April 2001 as the aging date for the account, making it a recent charge off, not several years old and will significantly drop your fico score. The supervisor said they will be changing this in the next few months, but that is the way it is handled now. Personally, I doubt if they will ever change it.

    He also told me that while an account is under investigation Fair Isaac applies a different weight to the account so that it will cause a significant increase in your score. If the account is dropped, your score will improve, but now we know if it is updated, your score will actually DROP without any negative information being added!

    Thought you would like to know (and maybe share the info!)
  7. tom65432

    tom65432 Well-Known Member

    I am monitoring my score daily and charting everything on daily basis to see what affects a score and what doesn't. So far , I had a paid collection drop off which gave me one whole point. Then, an old inactive MBNA account dropped off (5 years old, marked paid, never late, and therefore a positive) - that cost me 13 points. Then, reducing my overall debt by $100 got me two more points. So far, none of it makes sense to me. I plan on doing this until I get some feel for what affects the score. If I ever reach any conslusions, I will let you know.

    RaiderPam - Where does the Raider in your nickname come from? Any connection to a college? I ask, because my son's college has raider in their name.
  8. lbrown59

    lbrown59 Well-Known Member

    They set it up that way so you couldn't make any sense out of FICO:
    The conclusion is FICO is based on false information and desigined to be lower than it should be no matter what you do or don't do!
  9. lbrown59

    lbrown59 Well-Known Member

    A cheating tool like Fico was never meant to be fair?
    You mean you are just now finding that out?
  10. lbrown59

    lbrown59 Well-Known Member

    How'ed you guess?
  11. raiderpam

    raiderpam Well-Known Member

    raider for the oakland raiders
  12. cariba

    cariba Well-Known Member


    Had a Discover account deleted that had been reinserted after a previous deletion (go figure!)--that netted me an additional 6 pt. This account was not even mine!

    It does not make any sense. Now I am up to 651--should be higher.

  13. breeze

    breeze Well-Known Member

    MY theory - we are penalized points for disputing.
  14. lbrown59

    lbrown59 Well-Known Member

    Not only penalized but overcharged.
  15. PsychDoc

    PsychDoc Well-Known Member

    Interesting comment, lbrown59! I didn't realize FICO made a commission on any score, but if what you're saying is true, then they get extra money when we score poorly!!! How does that work? For example, if we get denied for an MBNA card because the score is too low, does MBNA pay FICO a bonus for not enlisting us as a customer? Inquiring minds want to know.

  16. lbrown59

    lbrown59 Well-Known Member

    Yes and the penality is over charged prices.
  17. lbrown59

    lbrown59 Well-Known Member

    I was talking about product pricing not comissions.
  18. J. Edgar

    J. Edgar Well-Known Member

    If the three derogatories that were deleted were the oldest things in your credit file, you score may go down because:

    1) Older deogatories depress your score less than newer ones


    2) One of the heaviest factors in scoring is the 'age' of your credit file. So if the derogs were 5 years old and everything else was within the last 18-24 months, your 60 month history just got contracted into 18-24 months and that will most definitely score lower.

    So the older derogs could have been pushing your score down a little, but the (now) much shorter credit history could have overwhelmed any gains that were made by having them deleted.

    This probably doesn't make much logical sense, but then it's credit scoring we're talking about.
  19. lbrown59

    lbrown59 Well-Known Member

    { correction profit scoring}
  20. raiderpam

    raiderpam Well-Known Member

    So if I can get the other information that is bad off,it will bring my score back up?Also I just paid off my cc will that help ?

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