Help Gurus...Please Explain This!

[Anonymous]

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@fused111 wrote:

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Please post when you get your CLI posted to your CR. I would like to know if it had any effect on your score 0-5 days after posting. Thank you in advanced. :-)

[Tuscani]

There are different pools aka scorecards or buckets.  For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO score in the future.

Overall, that's a good thing. Otherwise, newer people just beginning to participate in credit, or those of us working on credit rebuilding, would be locked into basement-level-scores nearly forever compared to all those folks with 30+ years of impeccable credit history.

[MidnightVoice]

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@Anonymous wrote:

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@fused111 wrote:

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Please post when you get your CLI posted to your CR. I would like to know if it had any effect on your score 0-5 days after posting. Thank you in advanced. :-)

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I got a new CL Tuesday and it hit EQ on Sunday.  (And EQ liked it)

[Anonymous]

I do not know this for 100% certain.   But from what I have been told is that the credit scoring is an ever changing algorithm.   I don't think it is a "pool" that you are lumped in with.  But people with similar credit characteristics as you may have had a slightly higher default rate recently, thus the minor score drop.   

I am a mortgage lender, any time I see 720 plus scores, the minor differences are a non-issue.   As a matter of fact, if I get someone approved through the "automated uinderwriting" engine the score does NOT impact the rate (unlike what some people want you to believe).   Approved is approved.   And a 660 score will almost always get an approval.   

You score impacts your car loan and credit card rates more in my opinion.   

If I were you I wouldn't stress about the minor fluctuations.   If you pay your payments on time and keep your revolving charged under 33% of the limit, you will be just fine..

[MercyMe]

Can you be flopped smack back into your previous bucket?  And as you graduate from one bucket to the next, are higher scores more difficult to achieve?  I mean, I received an alert, a while back, that I'd jumped buckets -- but thereafter it seemed awfully difficult to get a score increase.  Or perhaps they slung me back into the bucket I was in before when my score dropped? Lord I feel like a fish ...  this bucket that bucket ...  We're just a bunch of fish trying to swim out of our perspective buckets, and make our way to the sea.

Message Edited by MercyMe on 06-24-2007 02:41 PM

[MidnightVoice]

The higher your score, the less impact good things have on it, and the less likely it seems you will see many changes.  Bad things are probably WORSE for a higher score than a lower one.

(With the exception of EX, that hates good things anyway - my score after 12 months of perfect behavior has gne down 7 points  )

[fused]

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MidnightVoice wrote:

The higher your score, the less impact good things have on it, and the less likely it seems you will see many changes.  Bad things are probably WORSE for a higher score than a lower one.

(With the exception of EX, that hates good things anyway - my score after 12 months of perfect behavior has gne down 7 points  )

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With your scores, it looks as though you've grown in to a 1,200 lb. pacific blue marlin and cannot find a pool or bucket big enough to accommodate your shear mass!.

Message Edited by fused111 on 06-24-2007 12:13 PM

[fused]

JK of course!!!!!!!