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715 ZOMG!!!11!!!1!!!!!

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Morningstar

Morningstar

Joined: 17 Apr 2007
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Posts: 576



11 Magic Points

Subject: 715 ZOMG!!!11!!!1!!!!!
 
Posted on Mon Oct 29, 2007 1:06 pm  

Woot!

Just pulled a myfico: EX score at 715!
14 Months ago, it was in the 530 range!

All but one derogatory remark has dropped off (May 08 for the last one)
Paid down a lot of debt

All I need to do is try to have a PIF/Closed account in good standing removed. This is from a consumer finance company; it is a sign of less than ideal credit. They offer loans for higher interest rates (=risk), taking one of these type of loans will drop your score--but I don't know how by how much.

Finally, things in life are starting to really turn around!
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Laura

Laura

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35803 Magic Points

 
Posted on Tue Oct 30, 2007 5:36 am  

This is really great news morningstar. You brightened our day. remarkable development in your score.

Just a question how to keep a closed account in good standing?
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Laura.
Morningstar

Morningstar

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Posted on Tue Oct 30, 2007 6:24 am  

I don't understand your question.
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Laura

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Posted on Tue Oct 30, 2007 8:59 am  

Quote:
All I need to do is try to have a PIF/Closed account in good standing removed


I dint understand this part.
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Laura.
Morningstar

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Posted on Tue Oct 30, 2007 11:29 am  

I have a paid in full/closed account that I want removed from my credit report. Not a charge-off or a 30-60-90+ late payments, but the existence of the account itself is lowering my score.
Laura

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Posted on Thu Nov 01, 2007 6:58 am  

Ok I got your point here. A PIF or Close account lowers your score.
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Laura.
Morningstar

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Posted on Fri Nov 02, 2007 10:14 am  

No, it's the type of account itself; the type of loan someone with poor credit is far more likely to take out than a person with good credit. Open or closed, the account showing up on my report is causing some reduction of points.
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Morningstar

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Posted on Fri Nov 02, 2007 10:16 am  

Let's use CashCall as an example. If they report to the bureaus, then even an account with perfect payment history will hurt your score. Who's going to use CashCall? Someone who needs a loan and can't get one from a regular bank.
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Laura

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Posted on Sat Nov 03, 2007 7:11 am  

That was simple. I got your point Morningstar.
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Laura.
goodnatured



Joined: 03 Nov 2007
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389 Magic Points

 
Posted on Sat Nov 03, 2007 11:54 am  

OMG, that is excellent. Great job, how long have you been working on raising it? or just the derrogatory's falling off did that much improvement? I wonder if when good stuff falls off if it lowers your score?
goodnatured



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389 Magic Points

 
Posted on Sat Nov 03, 2007 1:30 pm  

How often do you pull your credit report? Do you have a particular reporter of the three that gives you more information than the other? I know that one free one a year is available, which is the best to pull first?
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Posted on Sun Nov 04, 2007 1:00 am  

that's fantastic - good for you! i am new to this site, was perusing and found this thread. i am still not sure which route to take for my issues, but feel slightly better knowing this site exists.
i am wondering how this happened so fast? what did you have to do?
goodnatured



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389 Magic Points

 
Posted on Sun Nov 04, 2007 2:25 am  

I am anxiously waiting the answer to that question also guest. I really need help bringing up my score. It is low.
Laura

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35803 Magic Points

 
Posted on Mon Nov 05, 2007 11:38 am  

I would suggest you to pull all three and compare the scores. Read the reports throughly and dispute any item in case of discrepancies.
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Laura.
goodnatured



Joined: 03 Nov 2007
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389 Magic Points

 
Posted on Mon Nov 05, 2007 5:20 pm  

I am wondering if the positives falling off lowers your score, if the derogatories falling off raises it.

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