Understanding FICO® Scoring

[getahead]

Has anyone had their CCC report a balance before the statement date?  My next statement date is 1/10/12 & I received a SW alert stating my balance on my CC & it dropped my score 53pts!! I'm so upset, because I normally pay it off before the statement cuts but used it heavily this past momth, I just PIF but it didn't report yet.  WTH? anyone had the same experience?

I check online with the CCC & the new statement did not even print yet?  I'm so confused, here I was making progess & now this

[MarineVietVet]

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getahead wrote:

Has anyone had their CCC report a balance before the statement date?  My next statement date is 1/10/12 & I received a SW alert stating my balance on my CC & it dropped my score 53pts!! I'm so upset, because I normally pay it off before the statement cuts but used it heavily this past momth, I just PIF but it didn't report yet.  WTH? anyone had the same experience?

I check online with the CCC & the new statement did not even print yet?  I'm so confused, here I was making progess & now this

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The score drop is temporary. Next month when the new PIF balance reports on your statement you'll get those points back. I wouldn't give this another thought.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[getahead]

what a relief to hear, here I am rebuilding my scores to buy a home in the summer & this was just devastating.  So its normal for the CCC to report before the statement cut off date?

[MarineVietVet]

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getahead wrote:

what a relief to hear, here I am rebuilding my scores to buy a home in the summer & this was just devastating.  So its normal for the CCC to report before the statement cut off date?

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I don't think I've ever had that happen to me but I know that's small comfort to you right now. Hopefully this is just a one time glitch. You might call the creditor and voice your concerns over this.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[GregB]

I have seen it happen a few times and it happened once to me. It seemed to happen when the CCC was changing something in their system. In each case it was followed by the normal reporting after the statement date. That is, it was an EXTRA reporting on a certain date in addition to the normal reporting.

I'm guessing your score will go back up shortly.

[teenastie]

It has happened multiple times with my Orchard and CU cards. What card reported the balance early?

[getahead]

its was a Cap1 card, & come tho think of it I did do a dispute to clear my one of my 30 day late pay, so maybe it was because they recently reported to the dispute.  Thank you all for your answers, I will watch & wait for another SW alert for a higher score again.

[teenastie]

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getahead wrote:

its was a Cap1 card, & come tho think of it I did do a dispute to clear my one of my 30 day late pay, so maybe it was because they recently reported to the dispute.  Thank you all for your answers, I will watch & wait for another SW alert for a higher score again.

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That sounds about right I sent a GW letter to one of my CCC and they updated my CR based on the date of their correspondence.

[getahead]

Hi Marinevietvet,

I posted earlier on my big score drop, do you think I've been rebucketed?  I disputed a 30 day late pay, which I didnt win & also disputed a paid tax lien, which miracously got deleted.  My 53 pt score drop could be because they rebucketed me?  Well, I also did use my cards alot during the holiday so when EQ updated my dispute it reported my high balance.  Well, I since then PIF & waiting for an increase in pts when it reports. 

What do you think, rebucket? I hope if it is EQ put me in a higher bucket due to the lien being deleted.  Thank you in advance

[MarineVietVet]

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getahead wrote:

Hi Marinevietvet,

I posted earlier on my big score drop, do you think I've been rebucketed?  I disputed a 30 day late pay, which I didnt win & also disputed a paid tax lien, which miracously got deleted.  My 53 pt score drop could be because they rebucketed me?  Well, I also did use my cards alot during the holiday so when EQ updated my dispute it reported my high balance.  Well, I since then PIF & waiting for an increase in pts when it reports. 

What do you think, rebucket? I hope if it is EQ put me in a higher bucket due to the lien being deleted.  Thank you in advance

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IMO it wasn't rebucketing and I think it was because your utilization jumped up over the holidays. When the utilization goes back down I think you'll see a bump. Do you have any other negatives such as liens, BKs, or judgments reporting?

One other thing. If you're planning on buying a home stop applying for any new credit. Applications for other credit makes mortgage lenders very nervous.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Tell him to stop applying!!! Going app nuts just a few months before mortgage shopping.