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Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

New Member

Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

Ermm, i don't get this. It was a retail credit card opened in 2006 with a 1k limit. Fico score went up 7 points to 799. Any ideas?

Message 1 of 6
5 REPLIES
Moderator Emeritus

Re: Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

Are you referring to a SW alert? If so, know that your score change provided with the alert is a net score change and doesn't necessarily mean that all 7 points came from the status change of that one account. For example, I got a SW alert for +20 because I added an inquiry. Inquiries don't increase your FICO but there was a dropped baddie that SW doesn't pick up on that caused the score change. In other words, your +7 could be caused by other things like a zeroed-out balance, improvement in util, accounts aging, etc.

Message 2 of 6
New Member

Re: Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

Yea, a SW alert.

Message 3 of 6
New Member

Re: Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

Actually everything  has been the same for some time now, all my CC have zero balance reported every month, i always pay in full and haven't add any new account in a while. Now i reviewed the changes in transunion and the score went down? What a mess.

Message 4 of 6
Moderator Emeritus

Re: Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?

Did you mean Equifax? SW works with EQ only.

 

If all of your CCs are at $0, try letting one report a small balance of under 9% of the CL. You might see a bump out of that.

Message 5 of 6
Established Contributor

Re: Acc. Close by Credit Grantor, Paid as Agreed/Zero Balance - Fico Score went up 7 points?


rafaeljca wrote:

Actually everything  has been the same for some time now, all my CC have zero balance reported every month, i always pay in full and haven't add any new account in a while. Now i reviewed the changes in transunion and the score went down? What a mess.


Your score could've also incresed due to reasons such AAoA has increased, an inquiry "aged" off from the scoring model, etc.


2010: 475 EQ 2011: 503 EQ 2012: 600 EQ2013:632 EQ
Starting Score: 634 EQ-3/13/13
Current Score: 706 EQ-8/29/13 703 EX-7/12/13 705 TU-8/9/13
Goal Score: 700

Take the myFICO Fitness Challenge
Message 6 of 6