Reply
Established Contributor
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
Valued Contributor
Posts: 1,086
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...
Feb 2015: EXP08: 719; EQ08: 728; TU08: 731; EQ04: 715
In My Wallet: Discover $11.7K; Cap1 $8.4K; Amex Optima $15.5K; Amex Everyday $12K; Barclay $7K; Citi (AT&T Uni) $6.3K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total CL: $76.4K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. 2015 Goal: GARDEN the entire year!!
Moderator Emeritus
Posts: 10,847
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 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.