@Anonymous wrote:
My equifax score dropped 10 pts yesterday because my student loans balance decreased. I did not pay a larger or lesser sum, I just had my auto payment as usual. The student loans are divided into 4 accounts and they each decreased a little bit, That's suppose to be a good thing no?
This is a very common topic here. You have to be careful relying on the alerts. Alerts are generated based on trigger activity. Not all activity with a scoring impact triggers an update. If you're going to rely on the alerts and score updates then you need to understand the triggers.
http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bureau-credit-monitoring-and-fico%C2%AE-identity
If you want to determine the cause for any score change you have to carefully review reports from before and after the change. You cannot determine the cause by relying only on alerts and scoring updates.
@Anonymous wrote:
Fun fact, Equifax score is different than the myfico equifax score.
They're different scoring models.
http://www.equifax.com/equifax-credit-score/
The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
Even with FICO there are a number of different scoring models used by creditors.
http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/The-many-flavors-of-FICO-Editions-versions-and-variations/td-p/1197617
