FICO Causes and Effects (What Happened, and How Did it Affect Your FICO?)

[Seeking700]

I experienced a 33 point drop in one day with an old collection being added to my report that a JDB bought and added...

[m_jonis]

My score with Equifax was 702 Paid off $7,000 in CC's (not all on one) in 2 months. Increased credit lines by another $3,000 Score has not changed one bit. Checked credit reports from all 3 bureaus and the information is accurate (meaning Equifax shows the lower balances and higher lines).

[SoulSmilen]

Have you actually ordered new reports from MyFICO or are you judging by not receiving a Scorewatch alert?

[m_jonis]

Ordered a 3 in 1 from myfico.com

[Anonymous]

Okay, the real estate loan showed up on EQ now (as of 7/13)... zero change in score.   ???

I suppose I should be more complete... a few weeks ago the mortgage loan showed up and improved my FAKO score from Experian by 41 points, but when I finally got the notification that it showed up through Score Watch on Eq there was no corresponding increase in that score...

Message Edited by alixwooten on 07-23-2007 02:46 PM

[Anonymous]

Okay more info on credit changes and how my score was affected.  Or actually how it was NOT affected... LOL...

On July 13th (the day my mortgage loan showed up on EQ through Score Watch) I also had 2 credit balance increases reported – both of which were well below the 9% utilization rate for each card.  So, to reiterate there was no change in score. 

On July 17th, two additional credit cards showed balance increases (showing my attempts to follow the advice here and USE my cards ).  They were again, both well below the 9% utilization rate.  And believe me I had to go buy a 12 pack of beer to make that happen on one of those LOL… anyhow, no change in score. 

My total credit limit with all cards is pretty darn low, but my utilization is only around 4 or 5%. 

I guess I’m wondering why the combination of continued positive history combined with the aging of negative history doesn’t result in more significant change…

Message Edited by alixwooten on 07-23-2007 03:04 PM

[Anonymous]

Hi,

I recently submitted several disputes and the next day received an alert that my score dropped 15 points with Equifax. Is this because of the disputes, and if so will I get the points back after the investigations are completed?

Help!! I don't know what to do, because I have worked hard to get my score up, and don't know why it dropped.

[Anonymous]

Don't understand it, but it seems to me that the FICO scoring system frowns on disputes.

Once your investigation is over you should regain those points.  Any deletions would add to an increase of points, too.

[Anonymous]

I read at another site, that your FICO score should be at least 650 if your delinquent accts. were charged off over 2 years ago , and you haven't had any new late payments.

I do not see it in my credit score.  Two accts. that I disputed because they were not mine, were charged off 1 more than 2 years, and the other 2 years ago.

Is this a sound rule.  If it is true, can I dispute my credit report concerning the scoring with myFICO ???

[MidnightVoice]

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MidnightVoice wrote:

OK, so I got a new CC to reduce my utilization percentage.  Interesting effects on my EQ score

self - util from 30% to 5%, score up 17.  DW - util from 20% to 3%, score up 7

Then I ran up a big bill and deliberately did not pay any before the statement (it is now already PIFfed).  This hit my CRs on Monday June 25th.  Friday Scorewatch noticed.

self - util from 5% to 25%, score down 19.  DW - util from 3% to 20%, score down 5.

My score was mid 700s, hers 30 points lower.

Now we shall see what happens in 30 days when util will be 1%!!!!!!!!!!!

But it is an interesting and accurate demonstration.  And by the way - EQ FAKO dropped 21 points the day the balance was posted

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RESULTS:

New balances posted. (actually, posted days ago, byt scorewatch is slow  )

My EQ recovered 14 of the lost points (5 not recovered, util was a tad over 5%)

DW EQ recovered to exactly where she was (util less than 5%)