My FICO Dips Every So Often By 60 points!!!

Morning Kar...I go through the exact same thing with WAMU...keep in mind that Wamu gets their score from Transunion which is only one of three companies. You did the right thing by contacting your creditors for your piece of mind. have you acquired your credit report recently from all three companies? you may want to consider that as your score is an average of those three scores. each one will be different. I noticed that my score drops and then goes back up dramatically. If you go around 25% mark of your credit limit (or beyond) I noticed the wamu score drop even though i pay it off in full. the next month your score could go back up. I try to keep balances on the wamu minimal and then pay it off as soon as i can, i pay wamu 2-3 times a month when we get the money. I honestly have to wonder if they are accurate or not, though supposedly, again, wamu gets your score from transunion.

You are proactive about your situation and as long as you have that frame of mind you are not going backwards.Also with your 12 year old debt, they can collect on it and will try to do so, but I'm guessing that the SOL on that debt has come and went, your SOL just stipulates that whomever owns your debt can't sue you for it, but they can still try to collect I think. Someone who is more knowledgeable will come along to shed light on that. Good luck on opening your business! please keep in touch, there's a family member who would love to open her own business but can't find the funds right now and she too is worried about credit maintenance.

Is the score WAMU is giving u an actual "fico" score?? U can go to myfico.com and that's ur actual fico score. It's not the scores on ur credit bureau reports! those are just from each ind credit bureau... ur true score is ur FICO score on myfico.com.
Hope this helps a little bit,
Ang

Ang thanks so much...I think Morningstar suggested that a while back and I forgot about it. do you have to sign up for the free trial...looking at the site now...looks like some sort of software package they're offering

Ur fico score is not free! There is a charge for it. I haven't looked at mine in a month or so, so not sure what they're offering now stinker!
But that is ur true fico score. I'm gonna pull mine again once this judgement has been vacated from my reports.
GOod luck,
Ang

However the collection agency cannot report anything on a debt older than 7 years from the date of closure/charge off. So if they have reported anything they had best remove it.

JC i think she's talking about they can "inquire" on her credit report not actually report the debt.... do u know anything about this?? I really never thought about the fact that a CA inquiring on ur credit report may in fact look bad... but i wouldn't think it could affect ur scores? Any knowledge??
Thanks,
Ang

I'm not entirely certain but I think "hard" inquiries (where they bring up your entire credit report) have to be authorized by you, such as when you check your credit report or request a extension of credit (such as a credit card/loan)

Here is what the FCRA says in regards to inquiries (I pulled what I thought might be key points but please forgive me as it's a little unorganized)

???? 606. Disclosure of investigative consumer reports [15 U.S.C. ???? 1681d]
(d) Prohibitions



???? 604. Permissible purposes of consumer reports [15 U.S.C. ???? 1681b]
(c) Furnishing reports in connection with credit or insurance transactions that are not
initiated by the consumer.
(1) In general. A consumer reporting agency may furnish a consumer report relating
to any consumer pursuant to subparagraph (A) or (C) of subsection (a)(3) in
connection with any credit or insurance transaction that is not initiated by the
consumer only if
(A) the consumer authorizes the agency to provide such report to such person; or
(B)(i) the transaction consists of a firm offer of credit or insurance;
(ii) the consumer reporting agency has complied with subsection (e); and
(iii) there is not in effect an election by the consumer, made in accordance
with subsection (e), to have the consumer's name and address excluded
from lists of names provided by the agency pursuant to this paragraph.
(2) Limits on information received under paragraph (1)(B). A person may receive
pursuant to paragraph (1)(B) only
(A) the name and address of a consumer;
(B) an identifier that is not unique to the consumer and that is used by the
person solely for the purpose of verifying the identity of the consumer; and
(C) other information pertaining to a consumer that does not identify the
relationship or experience of the consumer with respect to a particular
creditor or other entity.
(3) Information regarding inquiries. Except as provided in section 609(a)(5)
[????1681g], a consumer reporting agency shall not furnish to any person a record of
inquiries in connection with a credit or insurance transaction that is not initiated
by a consumer.

609
A
(5) A record of all inquiries received by the agency during the 1-year period
preceding the request that identified the consumer in connection with a credit or
insurance transaction that was not initiated by the consumer.

The score Wamu uses is a Fico model geared specifically towards credit cards. I don't have or wish to have an account with these jokers!

So it's only a score for credit cards Cajun???? Not ur actual fico score?? I figured u know about this!
Thanks,
Ang

It is a true Fico Ang. It modeling numbers are just scored heavily on credit cards.

Your FICO score changes almost every time you pull it.

do debt collectors see credit score or fico score and which do they effect