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Established Contributor
awdsmama
Posts: 756
Registered: ‎01-20-2012
0

2 score increases this week? OK.

Got a Fico alert yesterday that my score jumped from 682 to 701, but there were no changes to my report.

Got another alert this morning, it jumped a whole 2 pts when a balance deceased $150 to zero.

So was my initial jump due to the update to Fico 8?
Or would it be due to my 3 CC's hitting 1 year in March?
Fico: 701 (5/22/14) 682 (5/9/2014)
Discover IT $5,200 / CU Visa $1,000 / JC Penny$3,000
App Free since 2/2013
Established Contributor
EW800
Posts: 809
Registered: ‎06-01-2008
0

Re: 2 score increases this week? OK.

I'm not an expert in this area, however I would say that the change to the 08 scoring model is very possible.  I was switched to the 08 model about a week ago and had a 35 point increase.   You should have received a notification (alert and e-mail, in my case) when changed to the 08 model, so if you did not receive such a notification, perhaps something else caused the spike.  Either way, congreatulations!  

 

Oct 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Dec 2014: EXP08: 717; EQ08: 728; TU08: 731; EQ04: 691
GOAL: FICO 08 Models 725+; FICO 04 Model to 700+
In My Wallet -- Discover $11.7K; Cap1 $8.4K; Amex $22.5K; Barclay $7K; Citi (AT&T Uni) $6.3K; US Bank $4K; Dell $5K; Care Credit $6.5K
My UTIL: Less than 1% - Only allow about $10 a month to report
Moderator
Revelate
Posts: 9,735
Registered: ‎12-30-2011
0

Re: 2 score increases this week? OK.

[ Edited ]

You'll get told when you get upgraded; both inside SW and I got an email too.

 

Regarding the anniversaries: those really should've already been factored in from SW assuming you've been using the service and been getting alerts.

 

There seems to be a hiccup or two with the conversions I'm thinking from some of the statements people have made (large drop and then a return to previous score with no real changes on the report) but beyond that I'm not certain.  FICO '08 does seem to have more granular scoring than FICO '04 when it comes to number of tradelines with a balance reporting... sounds about right on those 2 points if you stepped over one of the step-function boundaries.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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