Christine
Today, 5/24, my score is 661, down 30 from the 691 two days ago.
From my score page at Credit Watch:
"Summary of factors affecting your score
The FICO score is calculated based on the information contained in your Equifax credit report. While knowing your actual score is a good start, understanding the key factors affecting your FICO score is much more important as they will provide you direction on how you can increase or maintain your FICO score over time.
Positive Factors
Here are the top factors that reflect your good credit behavior (they are listed in priority of impact on your score):
You demonstrate a relatively long credit history More information
The time since your most recent past due payment is old or unknown More information
Negative Factors
Here are the top factors where you have the most opportunity to take action that will increase your FICO score over time (they are listed in priority of impact on your score):
Serious delinquency or derogatory indicators/remarks, and public record or collection information is being reported on your credit file More information
The proportion of balances to credit limits on your revolving/charge accounts is too high"
The first factor is 39, the bankruptcy discharge in 96.
Two days ago, my score was 691:
"Summary of factors affecting your score
The FICO score is calculated based on the information contained in your Equifax credit report. While knowing your actual score is a good start, understanding the key factors affecting your FICO score is much more important as they will provide you direction on how you can increase or maintain your FICO score over time.
Positive Factors
Here are the top factors that reflect your good credit behavior (they are listed in priority of impact on your score):
The time since your most recent past due payment is old or unknown More information
You have a low proportion of balances to credit limits on your revolving/charge accounts More information
Negative Factors
Here are the top factors where you have the most opportunity to take action that will increase your FICO score over time (they are listed in priority of impact on your score):
Serious delinquency or derogatory indicators/remarks, and public record or collection information is being reported on your credit file More information
There is evidence of multiple accounts with missing payments or having derogatory indicators/remarks reported. More information"
As you can see, the balance/limit ratio was not an issue. Cap One was at $39 then.
The 2nd negative factor is for 7 discharged accounts from 96, I don't have a single other derog. Did a separate test and those accounts also cost me about 25 - 30 points.
There is absolutely NO way that the Cap One account is NOT included in the balance/limit ratio. This was a carefully planned attempt to show that Barry Paperno lied to me when he stated that accounts with no reported LIMIT are ignored for the balance limit ratio.
I paid off all other accounts, disputed the other account balances, and JUST on time before Cap One reported the $6,700 balance I got the score 2 days ago. Almost missed it too, been so busy the last few weeks I hadn't checked my Equifax in weeks.
So that Cap One balance cost me 30 points.
I just ran the numbers:
On the 22nd my balance/limit ratio was .3%, today it's at 45%.
It WOULD be 37% if Equifax hadn't screwed up and NOT removed the balance dispute for a $3K card - now I have TWO counts that they didn't remove the dispute.
What does it cost you when
Cap One reports a balance HIGHER than the "high credit?" (http://www.bayhouse.com/credit-forum/showthread.php?s=&threadid=17)
Just a few days ago I realized that the AmEx accounts that only report a "high credit" are also included in the balance/limit ratio.
So, if you need higher scores and you have cards that don't report the limit like Cap One, Citi, AmEx and numerous others, MAX THEM OUT and then pay them off.
I just prepaid a bunch of stuff like insurance with Cap One just to get close to the $7,500 limit.
And if you're CLOSE to your minimum score for the mortgage, now you know what to do if you have any balances on your credit cards. All it takes is a little planning.
I'm SOOOO ready to sue Fair Isaac and Cap One.
From my score page at Credit Watch:
"Summary of factors affecting your score
The FICO score is calculated based on the information contained in your Equifax credit report. While knowing your actual score is a good start, understanding the key factors affecting your FICO score is much more important as they will provide you direction on how you can increase or maintain your FICO score over time.
Positive Factors
Here are the top factors that reflect your good credit behavior (they are listed in priority of impact on your score):
You demonstrate a relatively long credit history More information
The time since your most recent past due payment is old or unknown More information
Negative Factors
Here are the top factors where you have the most opportunity to take action that will increase your FICO score over time (they are listed in priority of impact on your score):
Serious delinquency or derogatory indicators/remarks, and public record or collection information is being reported on your credit file More information
The proportion of balances to credit limits on your revolving/charge accounts is too high"
The first factor is 39, the bankruptcy discharge in 96.
Two days ago, my score was 691:
"Summary of factors affecting your score
The FICO score is calculated based on the information contained in your Equifax credit report. While knowing your actual score is a good start, understanding the key factors affecting your FICO score is much more important as they will provide you direction on how you can increase or maintain your FICO score over time.
Positive Factors
Here are the top factors that reflect your good credit behavior (they are listed in priority of impact on your score):
The time since your most recent past due payment is old or unknown More information
You have a low proportion of balances to credit limits on your revolving/charge accounts More information
Negative Factors
Here are the top factors where you have the most opportunity to take action that will increase your FICO score over time (they are listed in priority of impact on your score):
Serious delinquency or derogatory indicators/remarks, and public record or collection information is being reported on your credit file More information
There is evidence of multiple accounts with missing payments or having derogatory indicators/remarks reported. More information"
As you can see, the balance/limit ratio was not an issue. Cap One was at $39 then.
The 2nd negative factor is for 7 discharged accounts from 96, I don't have a single other derog. Did a separate test and those accounts also cost me about 25 - 30 points.
There is absolutely NO way that the Cap One account is NOT included in the balance/limit ratio. This was a carefully planned attempt to show that Barry Paperno lied to me when he stated that accounts with no reported LIMIT are ignored for the balance limit ratio.
I paid off all other accounts, disputed the other account balances, and JUST on time before Cap One reported the $6,700 balance I got the score 2 days ago. Almost missed it too, been so busy the last few weeks I hadn't checked my Equifax in weeks.
So that Cap One balance cost me 30 points.
I just ran the numbers:
On the 22nd my balance/limit ratio was .3%, today it's at 45%.
It WOULD be 37% if Equifax hadn't screwed up and NOT removed the balance dispute for a $3K card - now I have TWO counts that they didn't remove the dispute.
What does it cost you when
Cap One reports a balance HIGHER than the "high credit?" (http://www.bayhouse.com/credit-forum/showthread.php?s=&threadid=17)
Just a few days ago I realized that the AmEx accounts that only report a "high credit" are also included in the balance/limit ratio.
So, if you need higher scores and you have cards that don't report the limit like Cap One, Citi, AmEx and numerous others, MAX THEM OUT and then pay them off.
I just prepaid a bunch of stuff like insurance with Cap One just to get close to the $7,500 limit.
And if you're CLOSE to your minimum score for the mortgage, now you know what to do if you have any balances on your credit cards. All it takes is a little planning.
I'm SOOOO ready to sue Fair Isaac and Cap One.