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UPDATE: Fico score decrease from BoA update

Valued Contributor

UPDATE: Fico score decrease from BoA update

Just got a SW alert that my score went down from 720 to 712. The two changes that prompted the alert were: 1) balance increase of $18 and 2) BoA reported two changes - one of them is updating my CL (3k to 6k) and the other, I have no idea what the change is. I have a lost BoA card that's reporting as a change but I don't see anything different from my old report. I think I see a different account number. I don't know if it's from my lost one or not. You'd think with a doubling of the CL, a measly extra $18 wouldn't equal to a negative 8 points. To top it off, I just did a BT, which finally posted so my BoA balance is now at zero. (hallelujah!) It's also possible the updated number is related to my BoA being PC'd to a BoA 123. But I don't know why that would have a negative impact on my score. I'm just throwing stuff in the air. With 5 new TLs that will be reporting in the coming months, I can't imagine what type of SW rollercoaster I'll be on. Smiley Frustrated

 

EDIT: Well, just got another SW alert with my score going up to 737! It said that it was due to utilization so some of my new CLs must have posted. A 24 point jump in one day! Something tells me it's going to be a roller-coaster month. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 1 of 7
6 REPLIES
Super Contributor

Re: Fico score decrease from BoA update


parakleet wrote:

Just got a SW alert that my score went down from 720 to 712. The two changes that prompted the alert were: 1) balance increase of $18 and 2) BoA reported two changes - one of them is updating my CL (3k to 6k) and the other, I have no idea what the change is. I have a lost BoA card that's reporting as a change but I don't see anything different from my old report. I think I see a different account number. I don't know if it's from my lost one or not. You'd think with a doubling of the CL, a measly extra $18 wouldn't equal to a negative 8 points. To top it off, I just did a BT, which finally posted so my BoA balance is now at zero. (hallelujah!) It's also possible the updated number is related to my BoA being PC'd to a BoA 123. But I don't know why that would have a negative impact on my score. I'm just throwing stuff in the air. With 5 new TLs that will be reporting in the coming months, I can't imagine what type of SW rollercoaster I'll be on. Smiley Frustrated


score will recover stay strong

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Message 2 of 7
Mega Contributor

Re: Fico score decrease from BoA update


parakleet wrote:

Just got a SW alert that my score went down from 720 to 712. The two changes that prompted the alert were: 1) balance increase of $18 and 2) BoA reported two changes - one of them is updating my CL (3k to 6k) and the other, I have no idea what the change is. I have a lost BoA card that's reporting as a change but I don't see anything different from my old report. I think I see a different account number. I don't know if it's from my lost one or not. You'd think with a doubling of the CL, a measly extra $18 wouldn't equal to a negative 8 points. To top it off, I just did a BT, which finally posted so my BoA balance is now at zero. (hallelujah!) It's also possible the updated number is related to my BoA being PC'd to a BoA 123. But I don't know why that would have a negative impact on my score. I'm just throwing stuff in the air. With 5 new TLs that will be reporting in the coming months, I can't imagine what type of SW rollercoaster I'll be on. Smiley Frustrated


Sounds like its just a card rwporting a balance that caused the dip. Albeit small but still a balance.




EQ FICO 548 3/3/16
Message 3 of 7
Valued Contributor

Re: Fico score decrease from BoA update

Just wondering if the util on the card you did BT is very high? Other thing that can change easily is number of cards reporting balance.

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 4 of 7
Valued Contributor

Re: Fico score decrease from BoA update


parakleet wrote:

Just got a SW alert that my score went down from 720 to 712. The two changes that prompted the alert were: 1) balance increase of $18 and 2) BoA reported two changes - one of them is updating my CL (3k to 6k) and the other, I have no idea what the change is. I have a lost BoA card that's reporting as a change but I don't see anything different from my old report. I think I see a different account number. I don't know if it's from my lost one or not. You'd think with a doubling of the CL, a measly extra $18 wouldn't equal to a negative 8 points. To top it off, I just did a BT, which finally posted so my BoA balance is now at zero. (hallelujah!) It's also possible the updated number is related to my BoA being PC'd to a BoA 123. But I don't know why that would have a negative impact on my score. I'm just throwing stuff in the air. With 5 new TLs that will be reporting in the coming months, I can't imagine what type of SW rollercoaster I'll be on. Smiley Frustrated


Not to fret...8 points rebounds quickly considering the reason it went down.

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Message 5 of 7
Established Contributor

Re: Fico score decrease from BoA update

Don't worry, although i have noticed with my BOA card, that they report the balance again mid cycle, after the statement balance cycles. It's always adds up to the amount of charges i make after my statement cuts.  Kinda ticks me off because sometimes i will run alot through it, the balance will be high, and then they report.  It's amost like they wait, and then go, "gotcha ya", we're reporting your balance now, even though it was zero when your statement cut.   I'm using another card when i'm charging more volume, and pif BOA, and putting it away. BTW, they are really fast when updating to the CRA's

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
Message 6 of 7
Valued Contributor

Re: Fico score decrease from BoA update

Thanks everyone. I guess it's not so bad at the end of the day. The points will rebound, hopefully. Now that the BT has posted, it will probably be SD'd for the most part anyways. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 7 of 7