Experian Shot Up

[MC9199]

696  -> 751 in two weeks

Around March 8 I paid off about $3K in balances and current util is about 1-5% across 3 CCs. 6-8th of the month is when I have seen the two cards with balances reporting to CRAs (I get my scores/reports from My Privacy Matters)

I was expecting scores to go up but maybe not that much? TU & EQ have held steady at 705, 701 respectively. All three CRAs are showing the same balance information. I wonder why TU & EQ haven't gone up yet.

What I am trying to figure out is what is the lag time between paying off a balance and the reflection of that event in the credit score. Seems to me it should have been reflected sooner than today in the score (I was checking about twice a week, no changes in the interim).

Well maybe it can't be figured out that well but I'm posting this to receive any insight anyone has, thanks!

Also I'm interested inknowing what else may have contributed to the EXP score boost (BK 7 aging, INQs, etc.; I have only 2 EXP INQs the last two years, none at all last five months or so.)

[Creditaddict]

WOW 751 with a chapter 7?!

[MC9199]

Though the ground may still be frozen, gardening has its rewards I guess!

[Genkeim]

Awesome jump! I had a 70pt jump myself. My new Amex reported with a 1990 MSD on it, so my AAoA went from 1yr to 3.5 years. And I had my last baddie goodwilled off. those combined to push my score up 70pts to 757. 

[BigBS]

Very nice jump!

[cakebuilder]

bravo

[vpae]

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@MC9199 wrote:

696  -> 751 in two weeks

Around March 8 I paid off about $3K in balances and current util is about 1-5% across 3 CCs. 6-8th of the month is when I have seen the two cards with balances reporting to CRAs (I get my scores/reports from My Privacy Matters)

I was expecting scores to go up but maybe not that much? TU & EQ have held steady at 705, 701 respectively. All three CRAs are showing the same balance information. I wonder why TU & EQ haven't gone up yet.

What I am trying to figure out is what is the lag time between paying off a balance and the reflection of that event in the credit score. Seems to me it should have been reflected sooner than today in the score (I was checking about twice a week, no changes in the interim).

Well maybe it can't be figured out that well but I'm posting this to receive any insight anyone has, thanks!

Also I'm interested inknowing what else may have contributed to the EXP score boost (BK 7 aging, INQs, etc.; I have only 2 EXP INQs the last two years, none at all last five months or so.)

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That's a nice jump no matter how you look at it! Nice.

By the way, I'm not familiar with My Privacy Matters. Are these FICO scores? If not, what is the range of the scoring system?

[cakebuilder]

a lot of people here have mentioned My Privacy Matters as a go-to, is this true across the board? 

[user5387]

Re the time lag between payoff and score increase, there are a couple of steps.

The payoff needs to be reported to the credit bureaus, and this typically happens a few days after the statement date.

Then a fresh score needs to be calculated, and this depends on where you get the score.  For example, I get my TU score from Discover on a monthly basis, and it reflects what is on my TU report about a week before the Discover statement date.

If my report changes in a major way a day after the score calculation, then it will be several weeks before this is reflected in the next score that is calculated.

[MC9199]

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vpae wrote

By the way, I'm not familiar with My Privacy Matters. Are these FICO scores? If not, what is the range of the scoring system?

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The scores range from 300-850. From what I've gathered online MPM is FAKO, but I'm not 100% sure.