Personal Finance

Ask me about Credit Scores

  • Last Updated:
  • Jun 17th, 2018 5:33 pm
Deal Addict
Jul 18, 2016
1958 posts
722 upvotes
gonzo20 wrote:
Mar 12th, 2018 2:52 pm
Does the 30 day late payment age off even if you don't close the credit card account? And if it does, how long does it take to fall off your history? Thanks
Good question. I don't know. In my case, these are both closed accounts. Both were closed about 4 years ago by me. The 30 day late fell off both credit reports exactly 6 years after they were reported to the respective agency. The trade still appears on my credit report as "account paid"/"prior history: (is now blank)" on Equifax and "current"/"late payments": (is now blank), on Transunion.
Jr. Member
Nov 17, 2011
116 posts
27 upvotes
Toronto
bewiseman wrote:
Mar 12th, 2018 2:55 pm
Good question. I don't know. In my case, these are both closed accounts. Both were closed about 4 years ago by me. The 30 day late fell off both credit reports exactly 6 years after they were reported to the respective agency. The trade still appears on my credit report as "account paid"/"prior history: (is now blank)" on Equifax and "current"/"late payments": (is now blank), on Transunion.
Thanks for the info. The only reason I don't want to close this account is because it's my oldest credit card on the file. I don't recall ever making a late payment but when I tried to dispute it they are telling me I did but they don't want to provide me any proof.
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Apr 24, 2016
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Deal Addict
Dec 5, 2003
1300 posts
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Is it normal that since the new year my credit score at Transunion has been shooting up? I used to get penalized because of the amount of revolving (all unused) credit I had available. My score this week is 882, which seems a bit high - pleasant surprise.
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Sep 19, 2013
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Phoenix88 wrote:
Mar 14th, 2018 12:03 pm
Is it normal that since the new year my credit score at Transunion has been shooting up? I used to get penalized because of the amount of revolving (all unused) credit I had available. My score this week is 882, which seems a bit high - pleasant surprise.
TU has changed their algorithm recently which shot up most scores significantly.
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Mar 3, 2005
769 posts
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Mississauga
amitdi wrote:
Mar 14th, 2018 12:22 pm
TU has changed their algorithm recently which shot up most scores significantly.
Has TU changed their algorithm as well? I'm aware that Credit Karma is using another TU product now (Credit Vision Risk Score vs the older Trans Risk Score).

Has something changed at TU too?

thanks

PHT
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Sep 19, 2013
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hopetindall wrote:
Mar 14th, 2018 6:55 pm
Has TU changed their algorithm as well? I'm aware that Credit Karma is using another TU product now (Credit Vision Risk Score vs the older Trans Risk Score).

Has something changed at TU too?

thanks

PHT
Sorry, I made a mistake while replying. I really meant Credit Karma. I didnt realize the OP said TU (not Credit Karma) shooting up. I did not know that TU is using same algorithm.
In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move. -- Douglas Adams
Sr. Member
Jan 31, 2007
993 posts
503 upvotes
Richmond Hill
I just check my TransUnion. My score was 843 back in Jan, and now at 804, only thing happen was I apply for Rogers MC to replace the Marriott Visa.
So one credit card application hit the credit score that much?
Jr. Member
User avatar
Jan 20, 2018
152 posts
67 upvotes
Toronto
Yes, but it usually rebounds after that, so I wouldnt even worry about it.

Your scores are high.

The higher the score, the bigger the drop for hard pulls, late payments, derog/negative items, etc
Sr. Member
Feb 24, 2008
956 posts
4 upvotes
My credit score at Equifax was 804 on 3/19/2018 but it was dropped to 794 on 3/21/2018. Since I am applying for mortgage and several banks made inquiries about my credit history, so may I know is this normal ?

How can I increase the score ??
Banned
Oct 10, 2016
758 posts
320 upvotes
gomcse2002 wrote:
Mar 22nd, 2018 2:47 am
My credit score at Equifax was 804 on 3/19/2018 but it was dropped to 794 on 3/21/2018. Since I am applying for mortgage and several banks made inquiries about my credit history, so may I know is this normal ?

How can I increase the score ??
794 is good
Even 680-690 should be no problem getting credit and % rate will most likely be the same
BTW if you want to increase dont apply for credit nor raise your UTI
Sr. Member
Feb 24, 2008
956 posts
4 upvotes
Thanks for your reply.
estevens wrote:
Mar 22nd, 2018 4:34 am
794 is good
Even 680-690 should be no problem getting credit and % rate will most likely be the same
BTW if you want to increase dont apply for credit nor raise your UTI
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User avatar
Apr 13, 2009
194 posts
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Toronto
How long will hard pulls remain on my Transunion credit report?
I understand that they have very little or no effect on my score after 1 year, but in a requested report I still see even hard hits from 13 years ago.
Is this information provided to lenders who request my credit score too?
Banned
Oct 10, 2016
758 posts
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zajacik99 wrote:
Mar 26th, 2018 5:32 pm
How long will hard pulls remain on my Transunion credit report?
I understand that they have very little or no effect on my score after 1 year, but in a requested report I still see even hard hits from 13 years ago.
Is this information provided to lenders who request my credit score too?
6 years
You can call to get those old hits removed
Newbie
Mar 3, 2018
56 posts
3 upvotes
Cambridge, ON
Will I be able to finance a vehicle with 0 down with a TU score of 630 and EQ score of 620? Are my odds pretty low?

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