02-25-2008 10:48 PM
why wrote:I have never used this site before now, why is it that this site does not have the answer as to whether a new FICO scoring system has gone into effect or not, & what about the new scoring system can cause an unchanged CR to drop so drastically in FICOS, when no changes have occured to cause the drop??
why wrote:By the way I came into this site via myfico.com, is this still that?
why wrote:Also what is a thread, & what is AU??
02-26-2008 11:09 PM
Thank you, I think you solved my mystery! My score dropped with no reason given recently by 17 pts. I compared two credit reports account by account. The only difference was that I reduced my debt by $200.
After reading the above comments, I rechecked the two reports and noticed that on the first report, the average age of my acccounts was 10 years, and it showed as helping my score. On the subsequent report my credit age is not mentioned at all. I did not open or close any accounts.
I did have one mortgage inquiry during the period between the two reports, but the original inquiry was before the first report and less than 20 days from the original mortgage inquiry, so that shouldn't have an effect.
Could I have entered a new bucket, where my average account age is now below the others' in my new bucket, causing it not to be displayed as a positive on my PowerScore report (therefore I can't see it)? Possibly I moved to 11 years or 10.x years. If this is the problem, I like my old bucket better and would like to go back!!
How long does it take to recover from jumping to a new bucket?