Credit score increase with EP, TU, but not EQ

[Anonymous]

I went from 102% utilization to 4% utilization on my PayPal credit and my score jumped 54 pts in EP and 56 pts in TU. EQ reports that my balance went from 102% to 4% but the score is unchanged at 616. Is this normal? My TU score is 652 and my EP score is 651.

Do I just need to wait a little more?

[AllZero]

What CMS Credit Monitoring Service are you using?

Maybe it hasn't updated.

[Anonymous]

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@AllZero wrote:
What CMS Credit Monitoring Service are you using?

Maybe it hasn't updated.

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+1

[Anonymous]

Oops forgot to mention what service I use. I use MyFico premier to monitor credit scores. That's why I'm baffled. When TU and EP updated to show that my PayPal account was paid down, the scores also changed. Not so with EQ.

[Anonymous]

[donkort]

I would do one of two things:

1.  Wait a day or two.

2.  Go over your Equifax report with a fine-toothed comb, even though you didn't receive any warning of some screwy item which might affect your credit score.

It wouldn't make sense to me if you didn't get a score increase based on that much of a drastic change in utilization.  How much has your overall utilization changed?

[Anonymous]

As of now I have just one revolving credit account- the PayPal credit. As a result I have no overall utilization other than going from 102% to 4%.

I got an opensky card last week but that isn't on my credit report yet. I'll look over my EQ report to see what might be holding the score down. It could update the score tomorrow or the next day.

[designated_knitter]

I just got off the phone with myFICO support.  Apparently, there is a setting you need to update on your member dashboard in order to have your Equifax score update.  

On the page with your dashboard, on the right, you will see a panel that says "Your Subscription".  At the bottom of that list is "Custom Alerts".  

1. Click on "Custom Alerts"
2. Set your target score to be 850
3. Also set Toggle for "Account Balance Change" and set a threshold of 1.00 (or whatever you feel is appropropriate)
4. Be sure to click "Save Changes" at the bottom.

Next time your score updates, if it is less than your target, then your EQ dashboard score *should* update.  The target score defaulted to whatever my score was when I signed up... so since my score has only increased, my EQ dashboard score never updated since I had achieved "my target".

I *hope* this works and fixes the problem.  It is a pretty stupid way to set target score.and I just found out about it tonight so I'm still not convinced that this will fix it but this is what myFICO support advised me to do...

Good luck!

[Anonymous]

That's interesting. Ive followed the procedure you outlined and set my target score to 849. It would not let me input 850. It said only numbers between 350 and 850 are allowed. Apparently 850 isn't allowed so I just went with 849.

Hopefully that will fix it. Like you, I'm skeptical.

[donkort]

That 616 score reminds me of my score throughout the 90s.

I hope it updates soon.  650s is not too bad at all----getting towards "good."