cancel
Showing results for 
Search instead for 
Did you mean: 

Experian jumped 65 points on CC debt increase of $2.5K. Error?

tag
Jensen
Established Member

Experian jumped 65 points on CC debt increase of $2.5K. Error?

All 3 scores fell from approx. 730 to 717 when I paid off my car loan. Have a new Marcus loan from Feb 2017 that has not yet hit the reports. One of my cards sent me a 0% offer for transfer/check until November 2017, which I took advantage of to the tune of $2.5K for some travel and will pay off long before. The balance increase has just hit, and Experian jumped 65 points to 782! Never had any score over 730, and been improving upwards over the past few years. But this seems crazy, and surely an error? 

Message 1 of 8
7 REPLIES 7
medicgrrl
Valued Contributor

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?

You might see a score jump depending on what the card(s) were that you did the BT from, balances and limits, vs what card it went on.  Were all cards reporting the correct balances previously?  Have all cards updated with the CRA's?  Any other neg's that may have fallen off?



EQ 778 EXP 782 TU 729
Message 2 of 8
SouthJamaica
Mega Contributor

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?


@Jensen wrote:

All 3 scores fell from approx. 730 to 717 when I paid off my car loan. Have a new Marcus loan from Feb 2017 that has not yet hit the reports. One of my cards sent me a 0% offer for transfer/check until November 2017, which I took advantage of to the tune of $2.5K for some travel and will pay off long before. The balance increase has just hit, and Experian jumped 65 points to 782! Never had any score over 730, and been improving upwards over the past few years. But this seems crazy, and surely an error? 


The score increase is unrelated to the balance increase.

 

Someting else has happened. You would need to compare the before and after reports to see what.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 3 of 8
Anonymous
Not applicable

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?

I don't see how a balance change would result in a 65 point change in credit score unless you are talking an extremely thin/young file and you're going from 1% utilization to near maxed out utilization, or the other way around.  I would think that there is another factor impacting that score change, for sure.

Message 4 of 8
medicgrrl
Valued Contributor

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?


@Anonymous wrote:

I don't see how a balance change would result in a 65 point change in credit score unless you are talking an extremely thin/young file and you're going from 1% utilization to near maxed out utilization, or the other way around.  I would think that there is another factor impacting that score change, for sure.


That's what I was wondering.  Did OP go from multiple high balance low CL cards to having 1 new card with a higher CL and holding the balances?  But still seems like there is something else that changed in addition.



EQ 778 EXP 782 TU 729
Message 5 of 8
Jensen
Established Member

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?

Thanks for the responses. I have FICO score monitoring, which tied the score jump to the $2.5K balance increase, but have not run a credit report in 2017 so will check. 

 

Only one neg; got burned by my ex-wife on a $100 cell phone bill, which went to collection, and is scheduled to drop off later this year. 

 

Have a NASA Visa at 45% utilization for long-term pay-down at a low BT promo rate.Use Discover, Diners, and mostly Jet Blue in rotation - all paid in full. Typical monthly spend across all is $1-1.5K. Limits range from $11K to $20K. Convenience check was on the Jet Blue. 

 

 

 

 

Message 6 of 8
Anonymous
Not applicable

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?


@Jensen wrote:

Thanks for the responses. I have FICO score monitoring, which tied the score jump to the $2.5K balance increase, but have not run a credit report in 2017 so will check. 

 

The score jump is not "tied" to the $2.5k balance increase.  The monitoring software lets you know there was a balance change; you receive an alert about that.  The score that goes along with it is often not related to the alert... it's just an updated score that you're receiving at the same time.  I know this is confusing, but it's a very common topic of discussion on here that often misleads people as to why their score changed.

Message 7 of 8
medicgrrl
Valued Contributor

Re: Experian jumped 65 points on CC debt increase of $2.5K. Error?

I'm throwing my guess out there....the collection is gone.  Let us know what you find on your report.



EQ 778 EXP 782 TU 729
Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.