My TU FICO lost 21 points in a single month. In that time there were
No new Inquiries
No new Trade Lines or increases/decreases to existing Trade Lines
The balance on all credit cards remained at $0
No delinquencies of any kind
No installment loans taken out or paid off
Can anyone explain the 21 point loss? I can see +/- 5 points or so, but not 21. FICO v8.
I have a mortgage on the line with this. The mortgage apps were all in May and June
The only thing I can think of is if your utl reported at 0 after reporting a % the previous month. It happened to me a few months ago. I usually show 2-3% total utl but I paid all balances in full one month and my scores dropped 15-18pts on all three CB. The next month I reported 3% utl and all the points returned.
@Anonymous wrote:Nope - utilization has been at 0% for 4 months, no credit card use at all.
Utilization, statement balances, should not be zero on all cards.
You probably had a huge run up in score with the baddies removed but the score is still trying to sort through all the factors, including utilization. All at zero drops your score
When does your next statement print? I would ensure that card reports a $10 balance to get you away from All Zero.
@Anonymous wrote:My TU FICO lost 21 points in a single month. In that time there were
No new Inquiries
No new Trade Lines or increases/decreases to existing Trade Lines
The balance on all credit cards remained at $0
No delinquencies of any kind
No installment loans taken out or paid off
Can anyone explain the 21 point loss? I can see +/- 5 points or so, but not 21. FICO v8.
I have a mortgage on the line with this. The mortgage apps were all in May and June
1. It's inaccurate to say you lost 21 points. You lost 16 points in TU on July 31st.
2. It's impossible to know what happened without seeing your pre-July 31st TU report and your post-July 31st TU report. Since there's a mortgage on the line, it's worth springing for your TU full report.
3. If the TU 7/31 report has all your cards at zero, while it was previously showing 1 card reporting a balance, that would have accounted for the drop, as FICO 8 abhors all zeroes.
@SouthJamaica wrote:
@Anonymous wrote:My TU FICO lost 21 points in a single month. In that time there were
No new Inquiries
No new Trade Lines or increases/decreases to existing Trade Lines
The balance on all credit cards remained at $0
No delinquencies of any kind
No installment loans taken out or paid off
Can anyone explain the 21 point loss? I can see +/- 5 points or so, but not 21. FICO v8.
I have a mortgage on the line with this. The mortgage apps were all in May and June
1. It's inaccurate to say you lost 21 points. You lost 16 points in TU on July 31st.
2. It's impossible to know what happened without seeing your pre-July 31st TU report and your post-July 31st TU report. Since there's a mortgage on the line, it's worth springing for your TU full report.
3. If the TU 7/31 report has all your cards at zero, while it was previously showing 1 card reporting a balance, that would have accounted for the drop, as FICO 8 abhors all zeroes.
1: I lost 5 points on July 2 and 16 on July 31. That is 21 points
2: There are absolutely no changes in the TU report from one to the other. I have the FICO alerts on and FICO would have told me of a change.
3: Both cards were at a $0 balance in both reports.
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:My TU FICO lost 21 points in a single month. In that time there were
No new Inquiries
No new Trade Lines or increases/decreases to existing Trade Lines
The balance on all credit cards remained at $0
No delinquencies of any kind
No installment loans taken out or paid off
Can anyone explain the 21 point loss? I can see +/- 5 points or so, but not 21. FICO v8.
I have a mortgage on the line with this. The mortgage apps were all in May and June
1. It's inaccurate to say you lost 21 points. You lost 16 points in TU on July 31st.
2. It's impossible to know what happened without seeing your pre-July 31st TU report and your post-July 31st TU report. Since there's a mortgage on the line, it's worth springing for your TU full report.
3. If the TU 7/31 report has all your cards at zero, while it was previously showing 1 card reporting a balance, that would have accounted for the drop, as FICO 8 abhors all zeroes.
1: I lost 5 points on July 2 and 16 on July 31. That is 21 points
2: There are absolutely no changes in the TU report from one to the other. I have the FICO alerts on and FICO would have told me of a change.
3: Both cards were at a $0 balance in both reports.
OP. What the other guys are trying to point out and you have posted a few times is in blue. And for 4 months in a earlier post. Reporting zero on (all) 2 cards if thats how many you have, is the killer. Then you say a tank of gas on both cards you'll use.
If you only have 2 cards. Pay the one to 0 balance as you have been doing for 4 months. Let the other card report and post a statement of that tank of gas. Then pay the statement balance. Your scores will go back up again. Possibly where they were before.
I did the same thing as the other guys above posted and paid off all my balances one month by mistake. Same drop as you. It bounced right back up the next month having 1 card report again. Never have all 0's reporting if its 2 or 22 cards. GL.
