I owe money and my FICO score went up?

[SONYFX]

This is ridiculous, my credit score was 690 eight month ago, at that time I owe nothing, paid everything in full when I got bill.

Now I owe $500 in my account, has 2 late payments, and my score went up to 730??

 

[xSauronx]

sweet

 

[amndouglas]

Your credit score will jump way up after you hit your 3 year mark for credit history. Something like that could be the reason.

 

[Ryan]

Shhh, don't question, just accept it

 

[Vic]

You have 2 late payments within the last 8 months and a 730 score? I call bullsh!t.

<- analyzes credit reports every day

 

[Ausm]

Originally posted by: Vic
You have 2 late payments within the last 8 months and a 730 score? I call bullsh!t.

<- analyzes credit reports every day

I am raising the BS flag on this one also....been monitoring credit reports for years.


sysadmin

 

[richardycc]

yeah I call it BS too, I have a 710 score with no late payment within the last 5yrs or so.

 

[SONYFX]

There's no point BS on an internet forum.

 

[Spencer278]

Originally posted by: SONYFX
There's no point BS on an internet forum.

people do it a lot.

 

[Nocturnal]

I have three late payments that occured more than two years ago. I have a few open accounts with balances on them, pay them in full every month. My credit score is only 650. I call shens.

 

[Ameesh]

Originally posted by: SONYFX
There's no point BS on an internet forum.

you havent used the internet much have you?

 

[Megamorph]

Originally posted by: SONYFX
There's no point BS on an internet forum.

This is the scripted statement that is always made by someone who is BS'ing on the net.

 

[TheGameIs21]

Just because he has 2 late payments, doesn't mean that they were reported. So it is VERY possible that 730 is accurate.

[edit]Oh... I monitor reports regularly and know that not all companies report late pays even if the debtor knows he paid late. IF he is saying the 2 late payments are reported then I also call BS[/edit]

[edit2] AND... Your rating went up since you are showing a "history" of payments where you had no or limited history in August...[/edit2]

 

[dman]

by late were they one month late so you got a penalty and then paid it after that, or did you actually go 2 months without making a payment? Because in the first case I don't think it really has an impact to your score (I don't think they report that). Maybe if it happens more than once?

Also, maybe they just haven't updated your records yet, check back in a few months and see.

I'm using a trainer so my credit score doesn't change, it stays at 777 all the time.

 

[yllus]

"Generally, credit inquiries fall off your record after 12 months. Space your credit applications out with this in mind. Also know that credit bureaus are typically 2 months behind the events of today; If you've had a string of late payments within that time period hold off to clear that backlog before taking any major action towards taking on new credit."

From: How to build good credit

 

[Ausm]

Originally posted by: TheGameIs21
Just because he has 2 late payments, doesn't mean that they were reported. So it is VERY possible that 730 is accurate.

[edit]Oh... I monitor reports regularly and know that not all companies report late pays even if the debtor knows he paid late. IF he is saying the 2 late payments are reported then I also call BS[/edit]

[edit2] AND... Your rating went up since you are showing a "history" of payments where you had no or limited history in August...[/edit2]

Good Point just wish when I was younger, I would have taken a loan out at one of those places

Sysadmin