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!
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?
I don't understand your question.
All I need to do is try to have a PIF/Closed account in good standing removed
I dint understand this part.
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.
Ok I got your point here. A PIF or Close account lowers your score.
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.
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.
That was simple. I got your point Morningstar.
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?
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?
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?
I am anxiously waiting the answer to that question also guest. I really need help bringing up my score. It is low.
I would suggest you to pull all three and compare the scores. Read the reports throughly and dispute any item in case of discrepancies.
I am wondering if the positives falling off lowers your score, if the derogatories falling off raises it.
Positives will stay for many years.
Old, closed positives falling off your report are not likely to impact your score much.
Negative history falling off will raise your score; the newer they are, the more your score will rise (as in pay for delete settlements or disputes).
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?
I used annualcreditreport.com and I pulled my FICO from myfico.com. I think I paid about $12 for the score.
I try to pull them all at the same time, as I don't know what report will be pulled by a creditor in the future.
Thanks so much Morningstar! i went into freecreditreport.com and wasn't terribly impressed and didn't have the money to pay what they wanted for the three combined reports. i'm going to check out the annualcredit report and do the myfico and see what happens. In fact i just got a so called update from freecreditreport as my membership expires tomorrow and they said that my score is like the lowest it can be! now i know that's not right. i was looking at the other parts of the report and there's no activity in any of the categories, so basically it was a blank report. what they hey? why even send me an email at all?
You have to have something on your report, you have bills right. I don't know anyone that has a blank credit report unless they are very young or locked up in prison for a very long time. I think I would be questioning it. I know when I pulled mine over a year ago they were all very different, they all look very different.
There is no way to tell what one the creditors will pull, they all have their reasoning for pulling each one. That would be an interesting question to pose to creditors, but you would probably get a ton of different answers. I guess the best you can do is monitor them and make sure they are acurate, dispute any discrepencies and hope your score improves.
True good, I wasn't happy at all considering i already paid them their lovely fee because I forgot to cancel. that was my fault. I figured out what the report was, it was a notice that WAMU did a credit screening because I applied to one of their reward cards with the holidays coming up. still you w ould think that the other areas of the report would have SOMETHING! booooo on freecredit!
I just can't see it being a blank report, can you complain and get your money back. I know it isn't much, but it is half of that chinese food that you splurged on last night.
Try to maintain positive accounts. Use them keeping the balance as low as 10%. Your score will remain excellent with on time payments and the history that you are making. You become really creditworthy.
A positive stays for 10 years and then drops off. It does not do any harm to your score, but an existing negative will.
Hey carol, thank you for the feedback, really appreciate it, I have been trying to get rid of the older bills for quite awhile and some of the current ones have suffered a bit, but I will be catching them up this month with my mortgage surplus.
This forum has been a great source of support and information, I enjoy reading all the different feedback. You guys are great.
Great to know that as well. Actually now I see some real good participation here. I hope we can establish a bond that is required in a community. :)
You are welcome good. Great going with mortgage surplus. Keep it up :)
I know Laura, I have been part of other forums where members get out of control and try to be in control of it, drives me up the wall. It is a community forum, so community contributions and difference of oppinion is welcomed. Keeps things interesting to say the least. I have made some good freinds I hope and gotten some really good advice from members, hope this one keeps the good spirit and the conversation rolling. It is a great stress reliever for me at times to just come on and be honest about things, getting it all off my shoulders without criticism is a nice break. Thank you all for being such wonderful listeners.
Which other forums do you visit good? Its good to know that you have made good friends through communities online. That inspires us really. :). Just telling you...as a part of a community I would like other people to participate as well. If you have friends who would like to why not ask them to gather here as well. We can really have great conversation.
Credit repair can be cumbersome, let others share their opinion as well. Once all are here we can rock this community as well right? This community can earn as well. These magic points are for that. :) Wendy and Morningstar has already enjoyed the benefit. :)
Does anyone know how long keeping goodstanding takes to improve your score? I don't want to pull my credit report until I have a chance of seeing good news.
Well be consistent for a few months. Cant give the exact time though.
Thanks Laura, I was going to take a new look at it after one year, I think that would do it.
Actually good checking your report twice in a year does no harm. You checking your credit report does not do any harm to your score. Keep a close watch on your report otherwise how will you maintain it? Just putting in my opinion...not necessary to follow though :)
Actually in the credit repairing process that is probably an excellent suggestions Laura. I could check it for free with one of the agencies every six months.
What you can do is get your free credit report annually, and buy the second one. Some states provide two reports annually. :)
Ours don't I tried, just have to wait till my year is up, I don't think I have enough time in to make any big changes anyway, I will wait the year out and then I know it should be better. thanks anthony
Welcome Good.
Which state are you in? You receive only one report in a year in that case? SO what you can do is pull out reports from all the three credit bureaus at the same time to tally the difference in scores and make a strategical effort to fix them All the three reports will not have the same score. Reason..1) The calculations vary
2) The reporting does not happen equally to all the three...some creditors report to Equifax, Some to Transunion and some of them to Experian.
Keeping up to your payment, disputing negatives which are not yours, keeping credit balance below 25% can keep your report clean and fair. :) Hope this helps.