Reply
Regular Contributor
Posts: 176
Registered: ‎03-11-2010
0

20 Point drop & Score Watch question

First question, why does score watch show two new alerts. Is it because its pulling EQ and TU new accounts? The same info shows up.

 

Next. i took a 7 point loss, I think from opening my new Walmart card because I was ok with the new BofA card and a few more inquiries.

 

Now I took a 15 point loss because one of my balances went from 0 to 250. Easy fix, my balance will go down when the next month posts, but how interesting, a util increase of 6-7 percent (total avail is like 1500 now) gave such a drop. Learning lesson for when I'm trying to buy a house, take what you guys say about keeping utilization betwen 1-9 max lol.


Starting Score(4/1/10): EQ: 631--- TU: 646
Current Score(4/1/10): EQ: 725--- TU: 686
Goal Score: EQ: 850--- TU: 850


Take the FICO Fitness Challenge
Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
0

Re: 20 Point drop & Score Watch question

Hi rebuilding,

 

First of all, Scorewatch only alerts for EQ accounts.  How is it looking?  Can you post it here?  I have received a few duplicate scorewatch alerts lately (the same account reporting twice on the same alert).  Seems like there's a glitch in the system that's being looked at.  There's a few posts on - I think it's - "Product Feedback" forums.

 

It may be that with your BofA card and Walmart card, your AAofA was affected enough for a score drop, and of course the inquiries can do that.  Did they all show up on the same day?  If you just got hit with the seven points on the day your Walmart card posted, it was probably AAofA, unless you posted a balance on that card as well.

 

FICO's looking at overall utilization as well as utilization on each card.  What's the CL on the card with the $250 balance?

Just puttin' syrup on something, don't make it pancakes.
Valued Contributor
Posts: 2,708
Registered: ‎10-16-2008
0

Re: 20 Point drop & Score Watch question

Regarding the two alerts from Score Watch for the same account, someone here answered that same question for me a while back.

 

Take a closer look at the two alerts.  Each is for a different parameter you've set in your preferences.

 

For instance, one alert may be that your balance increased by x amount of dollars.  The second alert for that same account may be that your balance increased by x %.

 

 

You get the idea.  I thought it was a glitch, too, but I was mistaken.  A closer look at the alerts will confirm this for you.

 

Hope this helps!Smiley Happy

Frequent Contributor
Posts: 328
Registered: ‎09-01-2009
0

Re: 20 Point drop & Score Watch question

+1

 

I always get two alerts; one for the dollar amount increased and the other alert for percentage. 


Starting Score: EQ 729, TU 752, EX ? (1/1/2011)
Current Score: EQ 696, TU 718, EX 686 - PSECU (5/17/2011)
Goal Score: ALL 800+ by December 31, 2011

Take the FICO Fitness Challenge
PROUD MEMBER OF THE 700 CLUB!
Moderator Emeritus
Posts: 4,470
Registered: ‎12-31-2008
0

Re: 20 Point drop & Score Watch question


Kiwill wrote:

+1

 

I always get two alerts; one for the dollar amount increased and the other alert for percentage. 


+1 for me too

 

I am not currently enrolled in ScoreWatch, so I can't check mine.  But dollars to donuts that's what prompted mine as well.  Thanks for the info!

Just puttin' syrup on something, don't make it pancakes.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.