EQ score roller coaster - BS

[LuckyBird]

Interesting activity this week with my EQ score.  Been sitting at 723 for a long while now.

I have a Chase Freedom with a 4K limit that never gets used.  Started worrying a little about it being closed for lack of activity, so I attached it to my iTunes and set up auto-pay.  Sometime this past month, there was a $9 charge on it from iTunes.

Yesterday when the statement cut, I got a MyFico alert that the balance on one of my accounts had increased by 100%.  (100%!, wth...) with an accompanying 3 point score drop.  It specifically showed the Freedom balance:  $0 --> $9.  My overall utilization is 7%.

I paid the card right away (I can't ever make myself wait till the due date!) and today I got an EQ alert saying "the balance on one of your accounts has decreased by 100%" now showing the Freedom balance $9 --> $0, and with a 3 point increase back to 723.

Granted, just a 3 point change...down and then back up.  But, I think it's pretty crappy that a $9 balance affects your score at all.  What kind of BS is that...?!

[CreditCuriosity]

called the MyFico black box... More so EQ is EMO sensitive about the slighest things more so then other CRA's.   My other CR usually stay stable, EQ is all over the place with the slighest thing changing.. Don't really understand why EQ reacts so different then other bureuas.

[LuckyBird]

yeah, I guess that's it.

I know I can't get my Experian to move no matter WHAT happens...and TU is fairly stable too.  EQ really has been pretty much, too, I guess.  My credit situation stays pretty much the same all the time.  I have one small balance I'm carrying at 0% but everything else I use and pay off, usually before statement cut.  Occasionally I'll miss the cut off and a balance will report. 

But $9...?  Really?  I think that's crazy.  There have been times when I've missed paying before cut-off and had a balance of a few hundred report, and no movement on EQ.  There seems to be no real rhyme or reason to it.

[Anonymous]

The number of CC accounts having any balance effects your score. Optimally, you should have only 1 CC with under a 10% balance and every other CC at zero balances. Even small balances on multiple CCs and overall utilization under 10% will result in small score drops. A 3-5 point score drop per CC account reporting minimal balances is normal. Both my EX and EQ tend to react, but TU is more forgiving when it comes to this from what I have seen. My score frequently goes up and down 10-20 points between months because I use multiple rewards cards and they all generally show balances each month before I PIF. 

[longtimelurker]

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@Anonymous wrote:

The number of CC accounts having any balance effects your score. Optimally, you should have only 1 CC with under a 10% balance and every other CC at zero balances. Even small balances on multiple CCs and overall utilization under 10% will result in small score drops. A 3-5 point score drop per CC account reporting minimal balances is normal. Both my EX and EQ tend to react, but TU is more forgiving when it comes to this from what I have seen. My score frequently goes up and down 10-20 points between months because I use multiple rewards cards and they all generally show balances each month before I PIF. 

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I've asked this before but didn't get an answer.   Is the REALLY a difference between the ways CRAs work?   My belief was that when a lender gets say a FICO 08 from EX and EQ, EXACTLY the same algorithm is run (in fact the FICO 08 algorithm!) on the data that the CRA holds, and differences are due to differences in the data.

But several people here seem to report stuff like the quote, that agency X reacts differently from agency Y.   I would still assume this is just a data difference, but anyone know with a reasonable amount of certainity?

[CreditCuriosity]

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@longtimelurker wrote:

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@Anonymous wrote:

The number of CC accounts having any balance effects your score. Optimally, you should have only 1 CC with under a 10% balance and every other CC at zero balances. Even small balances on multiple CCs and overall utilization under 10% will result in small score drops. A 3-5 point score drop per CC account reporting minimal balances is normal. Both my EX and EQ tend to react, but TU is more forgiving when it comes to this from what I have seen. My score frequently goes up and down 10-20 points between months because I use multiple rewards cards and they all generally show balances each month before I PIF. 

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I've asked this before but didn't get an answer.   Is the REALLY a difference between the ways CRAs work?   My belief was that when a lender gets say a FICO 08 from EX and EQ, EXACTLY the same algorithm is run (in fact the FICO 08 algorithm!) on the data that the CRA holds, and differences are due to differences in the data.

But several people here seem to report stuff like the quote, that agency X reacts differently from agency Y.   I would still assume this is just a data difference, but anyone know with a reasonable amount of certainity?

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What I would give for someone that works for FICO to comment on this..  It will never happen, but one can only wish!  One would think it is data and should react the same always, but I can tell you one report EQ swings more wildly then others and essentially has all the exact same stuff reporting good and bad as the other CRAs that don't seem to react to things the same..  It is just so hard to explain..  I know you are sitting at the 840-850 range and probably don't see these swings as much or they don't hurt you as much, but people that are in the 680-730 it can hurt if you have a wild one..

[taxi818]

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@LuckyBird wrote:

Interesting activity this week with my EQ score.  Been sitting at 723 for a long while now.

I have a Chase Freedom with a 4K limit that never gets used.  Started worrying a little about it being closed for lack of activity, so I attached it to my iTunes and set up auto-pay.  Sometime this past month, there was a $9 charge on it from iTunes.

Yesterday when the statement cut, I got a MyFico alert that the balance on one of my accounts had increased by 100%.  (100%!, wth...) with an accompanying 3 point score drop.  It specifically showed the Freedom balance:  $0 --> $9.  My overall utilization is 7%.

I paid the card right away (I can't ever make myself wait till the due date!) and today I got an EQ alert saying "the balance on one of your accounts has decreased by 100%" now showing the Freedom balance $9 --> $0, and with a 3 point increase back to 723.

Granted, just a 3 point change...down and then back up.  But, I think it's pretty crappy that a $9 balance affects your score at all.  What kind of BS is that...?!

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It's has nothing to do with actual amount. The fact it went from no activity to use is what did it. If you had used it. Paid it before they reported the Balance. Then no issue.  Especially eq likes 0 balances. I have balance on 4 accounts. 14 with 0 balance. Even if a dollar reports on one of the o balance cards. Score will drop. However. If I use card. And pif. Before lender reports. No issue. Issuer  knows I used it. Also decking balances helps Equifax.  It's a strange beast at best. But once you know parameters with that bureau.  Easy to manage. Remember. Credit is a game to be mastered. No get frustrated.  Good luck. 

[AverageJoe1970]

If you look @ your FICO numbers often, you're going to continually experience the numbers bouncing around (to whatever extent).

Some people are obsessed with monitoring - which, I guess could be fun, but ultimately is unnecessary. Check it quarterly, but don't freak out over it.

It's like watching the tide @ the beach, its going to come in and its going to go out - that's just the nature of life. I say chill.

[longtimelurker]

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@CreditCuriousity wrote:

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@longtimelurker wrote:

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@Anonymous wrote:

The number of CC accounts having any balance effects your score. Optimally, you should have only 1 CC with under a 10% balance and every other CC at zero balances. Even small balances on multiple CCs and overall utilization under 10% will result in small score drops. A 3-5 point score drop per CC account reporting minimal balances is normal. Both my EX and EQ tend to react, but TU is more forgiving when it comes to this from what I have seen. My score frequently goes up and down 10-20 points between months because I use multiple rewards cards and they all generally show balances each month before I PIF. 

---

I've asked this before but didn't get an answer.   Is the REALLY a difference between the ways CRAs work?   My belief was that when a lender gets say a FICO 08 from EX and EQ, EXACTLY the same algorithm is run (in fact the FICO 08 algorithm!) on the data that the CRA holds, and differences are due to differences in the data.

But several people here seem to report stuff like the quote, that agency X reacts differently from agency Y.   I would still assume this is just a data difference, but anyone know with a reasonable amount of certainity?

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What I would give for someone that works for FICO to comment on this..  It will never happen, but one can only wish!  One would think it is data and should react the same always, but I can tell you one report EQ swings more wildly then others and essentially has all the exact same stuff reporting good and bad as the other CRAs that don't seem to react to things the same..  It is just so hard to explain..  I know you are sitting at the 840-850 range and probably don't see these swings as much or they don't hurt you as much, but people that are in the 680-730 it can hurt if you have a wild one..

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Oh, I do see variation, but the data in the reports is different enough to maybe explain it.   EQ lists 37 accounts,  TU 44 and EX 45.  Even among the accounts in common, there is one marked open by one and closed by the other 2.  So you can imagine that if (for example) % accounts reporting balance was a factor, one extra account reporting is going to have more impact on EQ than on EX.

[CreditCuriosity]

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@longtimelurker wrote:

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@CreditCuriousity wrote:

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@longtimelurker wrote:

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@Anonymous wrote:

The number of CC accounts having any balance effects your score. Optimally, you should have only 1 CC with under a 10% balance and every other CC at zero balances. Even small balances on multiple CCs and overall utilization under 10% will result in small score drops. A 3-5 point score drop per CC account reporting minimal balances is normal. Both my EX and EQ tend to react, but TU is more forgiving when it comes to this from what I have seen. My score frequently goes up and down 10-20 points between months because I use multiple rewards cards and they all generally show balances each month before I PIF. 

---

I've asked this before but didn't get an answer.   Is the REALLY a difference between the ways CRAs work?   My belief was that when a lender gets say a FICO 08 from EX and EQ, EXACTLY the same algorithm is run (in fact the FICO 08 algorithm!) on the data that the CRA holds, and differences are due to differences in the data.

But several people here seem to report stuff like the quote, that agency X reacts differently from agency Y.   I would still assume this is just a data difference, but anyone know with a reasonable amount of certainity?

---

What I would give for someone that works for FICO to comment on this..  It will never happen, but one can only wish!  One would think it is data and should react the same always, but I can tell you one report EQ swings more wildly then others and essentially has all the exact same stuff reporting good and bad as the other CRAs that don't seem to react to things the same..  It is just so hard to explain..  I know you are sitting at the 840-850 range and probably don't see these swings as much or they don't hurt you as much, but people that are in the 680-730 it can hurt if you have a wild one..

---

Oh, I do see variation, but the data in the reports is different enough to maybe explain it.   EQ lists 37 accounts,  TU 44 and EX 45.  Even among the accounts in common, there is one marked open by one and closed by the other 2.  So you can imagine that if (for example) % accounts reporting balance was a factor, one extra account reporting is going to have more impact on EQ than on EX.

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Prime example payed off an installment loan (car).. Ex took a 6 point hit, TU 16 point hit and EQ a 36 point hit... Nothing else changed in my profile for the bureaus for given days...  It really just doesn't make sense and TU is normally my strongest score and doesn't move.  I agree each has different amount of accounts etc.  All are well over 6 years AAoA, but to explain that difference makes me speachless.. Hope to recoup when new installment loan reports or reports for a few months, but it just honest makes no sense how they can react from a small 7 point hit to a 36 point hit for paying off a loan...  I know it is a factor installments in the credit mix, but you would expect approx a 7 point hit across all bureuas not such a distinct difference or as big of one.  One will only drive themseves crazy being in my situation trying to figure it out as data is data, but to explain it is impossible unless someone that created the magic black box ever chimes in..