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Eeeek! 50 point drop on Credit Karma

Regular Contributor

Re: Eeeek! 50 point drop on Credit Karma


ronpa wrote:

myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.


 

The alert actually listed the inquires as the reason for the score change (increase). 

Start Fico: EX 526 | EQ 532 | TU 537 --- Feb 2016
Curr Fico: EX 652 | EQ 663 | TU 680 --- Sep 2016

Goal Score : 620 all across the board. . . . Started in the mid/high 400s in October 2015
Message 11 of 17
Valued Contributor

Re: Eeeek! 50 point drop on Credit Karma


ronpa wrote:

WiscoBrokeGirl wrote:

Take it as a grain of salt. CK told me my scores went down 8 points due to recent inquires on Transunion & Equifax. When I got the FICO alert, I was nervous because of what CK said, but on TU my score actually went up 37 points because of the inquiries. ............... I don't know why, but it did. 


myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.

 

For a better insight as to what's causing FICO 8 scores, and likewise with related FICO models, to change is to subscribe to a service that provides frequent, detailed updates, such as CreditCheckTotal.com


But not to be overlooked is the new accounts that I suspect were a result of the inquiries. If new credit limits resulted in a much lower utilization...that could result in a large credit score increase.




TU fico08=820 11/10/17
EX fico08=812 10/25/17
EQ fico08=818 10/25/17
Garden since 4/5/2017
Message 12 of 17
Established Contributor

Re: Eeeek! 50 point drop on Credit Karma

I agree with everyone else.  Just use credit karma to monitor your reports.  

 

I see weekly up and downs (especially on TU) anywhere from 60-75 points up and down.   But my ficos on credit check total only fluctuate a couple points either way.  

Message 13 of 17
Community Leader
Super Contributor

Re: Eeeek! 50 point drop on Credit Karma


WiscoBrokeGirl wrote:

ronpa wrote:

myFICO alerts rely on triggers that miss a lot. Presumably, other changes occurred over time that comprise that 37 points. Inquiries don't increase FICO 8 scores.


 

The alert actually listed the inquires as the reason for the score change (increase). 


Yes, it will often appear that way. The inquiries are the reason for the alert, but any score change is the result of ALL cumulative report changes since the last score recalculation, not simply the alert trigger.

Most Recent FICO 8 Scores EX601/TU580/EQ589 12/08/2017 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
Message 14 of 17
Valued Member

Re: Eeeek! 50 point drop on Credit Karma

My CK scores updated yesterday and I got a 20 & 26 point increase (to 708 TU and 700 EQ) - I'm not too sure what caused the jump.

 

I've been paying down some debt that I've had to carry this year, I paid down $4K in July, but just made normal payments in August. 

 

I'm not putting much stock into the jump on CK.... I'm anxiously waiting for MyFico to update so I can see if I at least got a bump on my FICO scores.

Message 15 of 17
Regular Contributor

Re: Eeeek! 50 point drop on Credit Karma

 
Start Fico: EX 526 | EQ 532 | TU 537 --- Feb 2016
Curr Fico: EX 652 | EQ 663 | TU 680 --- Sep 2016

Goal Score : 620 all across the board. . . . Started in the mid/high 400s in October 2015
Message 16 of 17
Highlighted
Frequent Contributor

Re: Eeeek! 50 point drop on Credit Karma

Scores on CK are useless. TU and EQ are 55-65 points lower than FICO for me. But when my HP for Discover It showed up last week. They listed as a Gas Card! Smiley Very Happy


BK 08/15 FICO 8 12/17 EX-740 EQ-737 TU-722
Message 17 of 17