quirk score up & down

[Anonymous]

on 26th this month i received from scorewatch that my score raised by 2 pts, so my eq score is 701   !

the reason is not specified , and i checked that there's no cli with regard to both my credit cards~

both cards give statement on 23rd each month

but, on 29th i received from scorewatch a second mail that my score has dropped by 5 pts  !!

the reason is one of my accounts has balance increase -- -- but i could never figure it out: should they report to Equifax , etc, on the day when the statement comes out?

don't tell me that Boa or citi would report the "current balance" every other day?

Message Edited by kuriri on 10-01-2008 12:34 AM

[Anonymous]

A few points up and down is nothing to worry about-

This is why many here subscribe to a daily monitoring (CMS)  service that allows you to look at report data anytime-

This can answer the wierd little changes in scoring.

[Anonymous]

i thought the score only changes once a month when the credit card companies report to those bureaus

but in fact it isn't?

where to subscribe the CMS?

Thanks a lot. 

[cobra19]

In reality, at any given point in time, you don't have a FICO score - none of us do. If you want to know your score at any point, you get in MYFCIO, and pay for a score(s). After you pay, the algorithm scans the data in your file(s) - and creates your score AT THAT MOMENT.

Your score can change daily. In fact, your score could change a couple of times in the same day. But, your score is not calculated UNTIL you pay for it.

[Anonymous]

why does it float by time?

the cr banks report to bureaus once a month only

do you mean the credit bureaus knows when a purchase or bt happens  with a credit card, even it's rightly during a cycle? 

[Anonymous]

No one really knows why FICO scores fluctuate the way they do.  My personal opinion is that FICO's formula injects a few points worth of "noise" into a pulled score to try and keep people from gaming out the exact formula, but that is only an opinion.

The bottom line is that minor fluctuations in score are nothing to be concerned with.  If you really want the inside track on your credit report, you could get a FAKO-based monitoring service like TrueCredit.  That allows you to pull reports and scores every day.  If you see a FAKO score take a 22-point dip, you'll want to pull your actual report and take a close look to see if anything changed on it.

[Anonymous]

the formula must be involved with many parameters assigned with different weight; there maybe a group of them.

when i apply for a card, then the bank pulls my credit report, could they see my credit score? or they could only see my credit report?