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So I am confused. My score just dropped 26 points because balance on one of my cards decreased?? Nothing else, no inquiry, nothing... WTH?
@Catacam wrote:So I am confused. My score just dropped 26 points because balance on one of my cards decreased?? Nothing else, no inquiry, nothing... WTH?
What changes, if any, were there in the reason codes you received with those scores?
HI Barry,
There was no code. It was a score watch alert on equifax. All it says is that my balance decreased by 3%. I'm so confused. Any thoughts?
Are you sure nothing else has happen on your EQ report? What is your current UTIL%
If anything else has changed, is isn't showing. This is from scorewatch, and it is my only alert.
The only thing that I can even begin to think is that some of my recent credit cards just turned 1 year old. I have heard of re-bucketing, but this wouldn't be that, would it?
Did you recently got rid of all baddies? If so, it is possible that you were rebucketted which will allow you to get even higher scores now!!!!!
@Catacam wrote:If anything else has changed, is isn't showing. This is from scorewatch, and it is my only alert.
The only thing that I can even begin to think is that some of my recent credit cards just turned 1 year old. I have heard of re-bucketing, but this wouldn't be that, would it?
Agree with DaBears. It could be rebucketing. But you can't rely on SW alone to know. SW may give you one alert when two or three different things are actually going on. The only way you can tell is to look at your credit report. Even then, if you don't see anything else going on, you may be left wondering. But you may see something. Could a credit line have decreased or an old, closed positive tradeline have dropped off or something like that?
Sorry so slow to respond. Yes, it is strange and I did have a 7 year old baddie fall off. I wouldn't think it would matter that much. It is so strange. My TU is 646, EX is 666, and EQ is 585??? EQ was 611. So confused. Oh well, I have my home and need no more toy limits, which is all I get when I apply, so I guess I will just garden away!
Sounds like a good plan!
@Catacam wrote:Sorry so slow to respond. Yes, it is strange and I did have a 7 year old baddie fall off. I wouldn't think it would matter that much. It is so strange. My TU is 646, EX is 666, and EQ is 585??? EQ was 611. So confused. Oh well, I have my home and need no more toy limits, which is all I get when I apply, so I guess I will just garden away!
I wouldn't doubt some rebucketing could be going on, but that 26 point drop seems too much to only be due to landing in a new bucket. Any other baddies remaining? How old is your newest account? At least your balances are showing a decrease, which is always good. I agree with the recommendation to pull your EQ report, if you haven't done so recently - and if you do, let us know what you find or don't find.
-Barry