What the hell is a "Serious Delinquency" on my FICO report?

[AncientPC]

My FICO score has dropped because of a "Serious Delinquency", what does that mean?

I'm not maxed on any cards, my standing balance relative to credit limit is low, I haven't missed any payments, why did my score drop?

[ThaSaltCracka]

maybe you have to many cards.

[AncientPC]

I have 3 cards. Two of them are paid off every month, the last one has a 40% standing balance (but it's still on a 0% APR). I pay a little above the minimum for the 0% APR card every month . . .

[SossMan]

that usually refers to late payments and/or a charge off (a creditor writing off your account as uncollectable).
I would check very closely every account to make sure that they are actual accounts that you have opened. Also, there should be a section dedicated to "derogetory credit info" where all the stuff that is potentially pulling your score down is located.

Credit reports are all different, and they aren't the easiest things in the world to read, but they all have some common characteristics. For late payments look at where your accounts are listed. There should be a section towards the right hand side of the page that has collumns that say
30 60 90
Then below that, for each account they will have numbers (most should be zero's).
If you have a 1 in the 30 section, then that means that you had a 30 day late payment. If you have a 1 in the 60, then you had a payment that went 60 days late, etc...

PM me if you have more questions. I deal w/ CR every day.

[jakethebake]

You need to get a complete copy of your credit report from www.equiserve.com (http://www.equifax.com) or one of the other credit reporting agencies. They list everything out.

[TheRake]

Check and make sure it is not a mistake. It happens. Awhile back I had some guys $175k mortgage on my credit report.

TheRake

[SossMan]

[ QUOTE ]
maybe you have to many cards.

[/ QUOTE ]

it has nothing to do w/ too many cards (serious delinquency).

[SossMan]

[ QUOTE ]
Check and make sure it is not a mistake. It happens. Awhile back I had some guys $175k mortgage on my credit report.

TheRake

[/ QUOTE ]

especially if you have a common name. For me it's not usually a problem since my last name is Soss.

[AncientPC]

Thanks for the help, where can I get a copy of my report? Equifax.com?

Edit: My name's is pretty uncommon, is this what I need to get?
https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=tri_pisample

[TheRake]

[ QUOTE ]
especially if you have a common name.

[/ QUOTE ]

I do have a pretty common name.

At least the guy was paying on time /images/graemlins/grin.gif

[on_thg]

[ QUOTE ]
Thanks for the help, where can I get a copy of my report? Equifax.com?

[/ QUOTE ]

There are plenty of places to get one, but credit bureaus are a solid option.

There's a new law out there that will let you get a FREE report once a year -- it's not yet in effect for the whole country however. Here's a link: Link to FTC Article (http://www.ftc.gov/bcp/conline/edcams/credit/ycr_free_reports.htm)

[GuyOnTilt]

is this what I need to get?

Yes. That's exactly what you want. I was just about to reply that you can get a report from all three major bureaus from Equifax's website (probably from Experian and TransUnion too, but I don't know).

GoT

[SossMan]

[ QUOTE ]
Thanks for the help, where can I get a copy of my report? Equifax.com?

Edit: My name's is pretty uncommon, is this what I need to get?
https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=tri_pisample

[/ QUOTE ]

29.99 is pretty expensive. Most places you can get it for like $9.99.

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)
but according to the FTC Web Site (http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm) those in Texas will not have access to this until June 1, 2005.

Also, if you have been denied credit, you are entitled to a free copy of your credit report from the three agencies. Also, if you have any friends in the mortgage business, they can usually pull a credit report pretty easily for you (depending on their environment, sometimes they can get a free one if it slips through the cracks). This is usually the best type of report since you will actually get a FICO score (the free ones usually just give you the information, but don't give you a score).

hope this helps.

[Shajen]

[ QUOTE ]
[ QUOTE ]
Thanks for the help, where can I get a copy of my report? Equifax.com?

Edit: My name's is pretty uncommon, is this what I need to get?
https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=tri_pisample

[/ QUOTE ]

29.99 is pretty expensive. Most places you can get it for like $9.99.

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)
but according to the FTC Web Site (http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm) those in Texas will not have access to this until June 1, 2005.

Also, if you have been denied credit, you are entitled to a free copy of your credit report from the three agencies. Also, if you have any friends in the mortgage business, they can usually pull a credit report pretty easily for you (depending on their environment, sometimes they can get a free one if it slips through the cracks). This is usually the best type of report since you will actually get a FICO score (the free ones usually just give you the information, but don't give you a score).

hope this helps.

[/ QUOTE ]

Everyone in the US has access to 1 free credit report a year.

Side note: my last name is extremely common, (Jones) yet I had a bogus charge on my report that belonged to someone with the last name of Mohammed. I mean, Mohammed to Jones is a little too weird, ya know? Check that shizz....if your credit is good, chances are the $8 an hour monkeys in the credit places screwed up. it happens.

[AncientPC]

FAWK WHAT THE HELL ARE ALL THESE CREDIT CARDS DOING UNDER MY NAME.

OMGWTFBBQ!!!!!!111

[fnord_too]

[ QUOTE ]
FAWK WHAT THE HELL ARE ALL THESE CREDIT CARDS DOING UNDER MY NAME.

OMGWTFBBQ!!!!!!111

[/ QUOTE ]

Identity theft probably. Not fun. Here's where people who know the right steps to take (I am not one of them) chime in with good advice.

[AncientPC]

[ QUOTE ]
[ QUOTE ]
FAWK WHAT THE HELL ARE ALL THESE CREDIT CARDS DOING UNDER MY NAME.

OMGWTFBBQ!!!!!!111

[/ QUOTE ]

Identity theft probably. Not fun. Here's where people who know the right steps to take (I am not one of them) chime in with good advice.

[/ QUOTE ]

My account lists a Discover Card and a Zale's card that I never remember opening / having.

BTW do you play on the Crypto network under the same name? There was a guy at the 100/200 limit table with the exact same name yesterday.

[Sponger15SB]

[ QUOTE ]

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)

[/ QUOTE ]

nice...I scored a 599 on my fico....thats "Very Poor"

[fnord_too]

Not me. I am fnord on UB and Prima, fnords on Party and Stars, and Archemedes on Empire. I'm hyper inflation away from playing 100/200 nl.

[on_thg]

[ QUOTE ]
nice...I scored a 599 on my fico....thats "Very Poor"

[/ QUOTE ]

Credit scores are RIGGED!

[AncientPC]

So I found 3 open accounts that were apparently activated right after I turned 18 about 4 years ago, a Captial One, Discover, and Zales Diamond card. Two of them didn't have balances, and one of the cards had an oustanding balance of a few hundred bucks.

I just called up all the companies and closed all the accounts. The ironic thing is that closing all these accounts will probably make my FICO score drop even more since the average age of all my accounts will be even younger.

Now I need to go do some research on identity theft. It's odd that someone would open 3 accounts but only use one of them.

[AncientPC]

I filed a police report and put a fraud alert on my account with the three credit bureaus. I don't think there's much else I can do.

[fnord_too]

At least you are not responsible for the bills. I have heard that getting your credit rating straight after something like this is next to impossible, but maybe it has gotten better since identity theft is so common now.

[AncientPC]

[ QUOTE ]
[ QUOTE ]

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)

[/ QUOTE ]

nice...I scored a 599 on my fico....thats "Very Poor"

[/ QUOTE ]

So after having an outstanding debt on one of the fradulent credit cards, I have a FICO rating the same as Sponger's. /images/graemlins/grin.gif

http://temp.ancientpc.net/22/fico.gif

[SossMan]

[ QUOTE ]
[ QUOTE ]

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)

[/ QUOTE ]

nice...I scored a 599 on my fico....thats "Very Poor"

[/ QUOTE ]

bad news: You probably won't be buying a home anytime soon
good news: your fico is higher than your GPA

[SossMan]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]

We in California have access to one free credit report a year from www.annualcreditreport.com (http://www.annualcreditreport.com)

[/ QUOTE ]



nice...I scored a 599 on my fico....thats "Very Poor"

[/ QUOTE ]

So after having an outstanding debt on one of the fradulent credit cards, I have a FICO rating the same as Sponger's. /images/graemlins/grin.gif

http://temp.ancientpc.net/22/fico.gif

[/ QUOTE ]

they show up from 4 years ago, but only recently your score dropped? I would investigate more.
Look at the derog section of your report. Something happened in Oct. (it looks like a late payment or 3)

[SossMan]

[ QUOTE ]
At least you are not responsible for the bills. I have heard that getting your credit rating straight after something like this is next to impossible, but maybe it has gotten better since identity theft is so common now.

[/ QUOTE ]

they've actually done a pretty good job at being able to correct bad info on your credit file. the onus is on the reporting companies to prove that you were the one that opened the account and didn't make the payments.
Putting a fraud alert on your credit report is a very good idea.

[Sponger15SB]

[ QUOTE ]

bad news: You probably won't be buying a home anytime soon


[/ QUOTE ]

Its cool, with all my winnings, I'll be buying all my homes straight cash....

http://rentpartylinens.com/Linens/lg/lGameMoneyLg.jpg

[AncientPC]

[ QUOTE ]
they show up from 4 years ago, but only recently your score dropped? I would investigate more.
Look at the derog section of your report. Something happened in Oct. (it looks like a late payment or 3)

[/ QUOTE ]

Yeah, the cards were dormant / paid off until August of last year. That's when the charges started carrying over on the Discover card and affecting my FICO score.

It's really odd, these credit cards are about 4 years old and I don't remember ever signing up for them, yet they only start getting charged last year? /images/graemlins/confused.gif

[SossMan]

[ QUOTE ]
That's when the charges started carrying over on the Discover card and affecting my FICO score.


[/ QUOTE ]

i don't know what you mean by that. oh well, good luck.

[Wiscer]

[ QUOTE ]

especially if you have a common name. For me it's not usually a problem since my last name is Soss.

[/ QUOTE ]

I thought it was Shoemaker...