Credit Scores

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Replied by charonh on topic Re: Credit Scores

If you have the balance paid off, it would be a good idea to send them a goodwill letter asking them to remove the late payment from your reports since you did them a favor and paid off your balance.


Thanks hjm331, I will try that, but we are talking about Chase, so I'm not optimistic.
15 years 3 months ago #61
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Replied by charonh on topic Re: Credit Scores

I believe that after 2 years of NO NEW lates, creditors over look it. They know that no one is perfect and at least you did not hang up your credit coat. I really don't think one late should penalize us period


Me either, but obviously creditors disagree with us. To be safe, I probably will not be applying for any new credit for at least two years, which will allow me enough time to payoff all of my outstanding credit card/line of credit balances and my student loans down a bit.
15 years 3 months ago #62
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Replied by hjm331 on topic Re: Credit Scores

At what point does a late payment stop significantly impacting your score? I know six months later is still too soon, but how long? A year, two years, etc?


If you have the balance paid off, it would be a good idea to send them a goodwill letter asking them to remove the late payment from your reports since you did them a favor and paid off your balance.
15 years 3 months ago #63
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Replied by Meya on topic Re: Credit Scores

I believe that after 2 years of NO NEW lates, creditors over look it. They know that no one is perfect and at least you did not hang up your credit coat. I really don't think one late should penalize us period.:upset:
15 years 3 months ago #64
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Replied by charonh on topic Re: Credit Scores

At what point does a late payment stop significantly impacting your score? I know six months later is still too soon, but how long? A year, two years, etc? :scared:
15 years 3 months ago #65
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Replied by tosha29 on topic Re: Credit Scores

Fako scores could be fifty points higher or lower(varies) than your true fico score because they use a different scoring model than Fico.Creditkeeper reports fako scores to the credit agencies.

Thank you!
15 years 3 months ago #66
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Replied by Meya on topic Re: Credit Scores

:white-flag:That is true!
15 years 3 months ago #67
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Replied by eugene66 on topic Re: Credit Scores

Can someone tell me about how many points does the fako score differ from the fico score and does creditkeeper report fako or fico scores?


Fako scores could be fifty points higher or lower(varies) than your true fico score because they use a different scoring model than Fico.Creditkeeper reports fako scores to the credit agencies.
15 years 3 months ago #68
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Replied by tosha29 on topic Re: Credit Scores

Can someone tell me about how many points does the fako score differ from the fico score and does creditkeeper report fako or fico scores?
15 years 3 months ago #69
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Replied by tosha29 on topic Re: Credit Scores

I looked at my credit report today and capital one reported the credit limit and the amount
15 years 3 months ago #70
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Replied by Meya on topic Re: Credit Scores

You are correct bro.
15 years 3 months ago #71
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Replied by hjm331 on topic Re: Credit Scores

They have been reporting credit limits for the past 2 years or so.
15 years 3 months ago #72
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Replied by ColoNative on topic Re: Credit Scores

I found out that capital one only reports the balance and not the credit limit, how is that going to affect my credit score, how will the my utilization be reported? I hope I'm asking these questions right!


Capital One stopped doing this in 2007. They report credit limits now unless you have a Visa Signature.
15 years 3 months ago #73
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Replied by tosha29 on topic Re: Credit Scores

I found out that capital one only reports the balance and not the credit limit, how is that going to affect my credit score, how will the my utilization be reported? I hope I'm asking these questions right!
15 years 3 months ago #74
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Replied by Meya on topic Re: How to improve my credit score within 3 months to buy a house

What are your scores now? Do you have any open credit with balances? My reason for asking is because I hear a lot of people tell me that most lenders require them to pay off their cc balances before loan process. If you have any baddies, please state them regardless to how old they are. Last but least, scores are something that grow with time and patience. If you are at no balance, and your scores are below what your lender required you possess, then it can take a while for them to move up. I have not seen a quick fix yet, so unless someone has some secrets, I say just be patient. Mary Tomkins speaks well about this process. https://www.financeglobe.com/Finance/Articles/articles/17/1/10-Steps-To-Improving-Your-Credit-Score/Page1.html

Here are some helpful links that you might be interested in for tips about home loans

1. https://www.financeglobe.com/Finance/Articles/categories/Credit-and-Debt/Mortgages/
2. https://www.financeglobe.com/SocialNet/forum/showthread.php?t=368
3. https://www.financeglobe.com/SocialNet/forum/showthread.php?t=484
4. https://www.financeglobe.com/SocialNet/forum/showthread.php?t=775
15 years 3 months ago #75