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*grumble*

Frequent Contributor

*grumble*

My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%.  That bites Smiley Sad 

===========
TU: 745(TU98) | EQ: 774 | EX: ? | NO BADDIES!
What's in my wallet? AMEX Platinum, United Presidential Plus World Elite MC, AMEX JetBlue, Nordstrom Visa Sig, Chase Sapphire Preferred, Discover More, AMEX Zync, Citi AAdvantage Plat Select Visa, Banana Republic, Home Depot
Message 1 of 10
9 REPLIES
Senior Contributor

Re: *grumble*


ArisGreek wrote:

My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%.  That bites Smiley Sad 


Score never drops from a reported decrease in balances.

 

lol @ thread title.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 2 of 10
Valued Contributor

Re: *grumble*

The more likely answer is that your score dropped because today is a Wednesday, and historically you make poorer credit decisions on Wednesdays.

 

 

 

 

(This is not true, I hope nobody believes me)


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 3 of 10
Frequent Contributor

Re: *grumble*

@Score, well that was the only thing that reported that caused the decrease in score. 

===========
TU: 745(TU98) | EQ: 774 | EX: ? | NO BADDIES!
What's in my wallet? AMEX Platinum, United Presidential Plus World Elite MC, AMEX JetBlue, Nordstrom Visa Sig, Chase Sapphire Preferred, Discover More, AMEX Zync, Citi AAdvantage Plat Select Visa, Banana Republic, Home Depot
Message 4 of 10
Valued Contributor

Re: *grumble*

 


score_building wrote:

ArisGreek wrote:

My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%.  That bites Smiley Sad 


Score never drops from a reported decrease in balances.

 

lol @ thread title.


Common sense would say that were true, but when it comes to FICO scores, I never say never after the whole "rebucketing" scandal we went through.  It seemed like tons of things caused you to be "rebucketed" and thus your score could go down as a result of positive changes.

 


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 5 of 10
Senior Contributor

Re: *grumble*

Even accounting for rebucketing would be surprised to find any scenario

 

where a FICO formula penalizes for a reported balance decrease.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 6 of 10
Valued Contributor

Re: *grumble*

Well, the scenario would be that the balance decrease wasn't enough to increase the score on it's own, but simultaneously something else caused the OP to be "rebucketed," like accounts aging or something, and that was responsible for the decrease.

 

That's my understanding of it, anyway.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 7 of 10
Senior Contributor

Re: *grumble*

 


thrasher865 wrote:

Well, the scenario would be that the balance decrease wasn't enough to increase the score on it's own, but simultaneously something else caused the OP to be "rebucketed," like accounts aging or something, and that was responsible for the decrease.

 

That's my understanding of it, anyway.


 

+1

 

In any case, also agree that, 'never say never' is a good rule of thumb when it comes to FICO scoring!

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 8 of 10
New Contributor

Re: *grumble*

Hi I am new to the forum.....can someone please give me a better description of "rebucketing".  Thanks!!!!!!!!!

Message 9 of 10
Moderator Emeritus

Re: *grumble*


jackig64 wrote:

Hi I am new to the forum.....can someone please give me a better description of "rebucketing".  Thanks!!!!!!!!!


Hi there. If I tried to explain it I'd just confuse both of us.  Smiley Happy  That probably means I don't really understand it.

 

Anyway here are some past discussions on the subject of Rebucketing.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 10 of 10