50 PT FICO SCORE JUMP..SO EXCITED BUT HUH?

[bella1013]

I just checked my fico score and my score jumped 50 pts! Yay!  So I check to see what caused the jump and I'm very confused.  I have a charged off account from Community Bank/VS and they updated the high credit limit from 950 to 1250.  That gave me 50 pts?  It's a charged off account.  So confused by very happy!

[guiness56]

They raised your CL after a CO?  That is odd. 

Is this paid?

[bella1013]

Yes.  It was paid in full and reported paid in full months ago.  The only thing that was updated was the credit limit.  So confused!

[guiness56]

Is it possible they reinstated the card?  Does it show closed?

[llecs]

OP, where are you buying your before-score and your after-score.

[bella1013]

I checked it and it says Charged Off Closed Account.  And MyFico Score Watch.

[llecs]

Is there a balance reporting?

[guiness56]

No, OP said it has been reporting as paid in full.

[llecs]

OP, since it is paid in full, and assuming it was listed as "paid in full" prior to the 50 pt change, then you can rule out the high limit change as a source of the point spread. The only time FICO will factor in the high balance is if there's a balance reporting. Once the balance hits $0, then FICO will forever remove it from util (which was my theory on the score change). 

OP, I'd pull EQ from somewhere. SW alerts only provide a net score change. There could be a dozen other things happening on your EQ report like changes to util or a dropped baddie.

[bella1013]

Its a 0 balance and has been so that wasn't it either. I checked my Equifax report and I didn't notice anything unless I missed it. If I find out, I'll post. Thanks for your feedback !!