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

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

I have a question regarding the effects of dispute resolution on FICO score.
 
I disputed 2 negative, derogatory items on Equifax which they removed after investigating and the score dropped 38 Points?!
 
What's going on here?
Message 71 of 158
Anonymous
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Re: FICO Causes and Effects (What Happened, and How Did it Affect Your FICO?)

Sounds like they were helping more then hurting-
Avg age of accounts change?
Mix of Credit change?
One of these oldest account?



@Anonymous wrote:
I have a question regarding the effects of dispute resolution on FICO score.
I disputed 2 negative, derogatory items on Equifax which they removed after investigating and the score dropped 38 Points?!
What's going on here?



Message 72 of 158
Anonymous
Not applicable

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

Fail to see how a 38 point drop in FICO score helps?
 
Average age should not have changed
 
Mix of credit did not change
 
Oldest account? NO
Message 73 of 158
Anonymous
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Re: FICO Causes and Effects (What Happened, and How Did it Affect Your FICO?)

The deleted accounts were helping your score more than they were hurting.



@Anonymous wrote:
Fail to see how a 38 point drop in FICO score helps?
Average age should not have changed
Mix of credit did not change
Oldest account? NO



Message 74 of 158
Anonymous
Not applicable

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

This shows why you can never assume that one action has a direct and quantifiable effect on your score:
 
I took a 0% cash advance of 50% of the CLI.  This did carnage to my util and dropped my score. Recently I paid off the balance.  My score went up 11 points.
 
Did my lowered util cause the score increase? No! I know that my CC hasn't reported my new 0% balance to the CRAs yet.
 
But I do know that my newest CC just had its first birthday.  Did this cause the increase? Maybe.
 
My last inq dropped.  Did this cause the increase? Maybe.
 
 
Message 75 of 158
Anonymous
Not applicable

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

Name and address change. FICO score up 5 points. If this held, I could pick up another cell phone and sublet a flea-bag efficiency apartment to keep everything mobile.
Message 76 of 158
Anonymous
Not applicable

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

Noah- You didn't know? Residential address vs Apt is 5 points?



@Anonymous wrote:
Name and address change. FICO score up 5 points. If this held, I could pick up another cell phone and sublet a flea-bag efficiency apartment to keep everything mobile.



Message 77 of 158
Anonymous
Not applicable

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

Name change?
Message 78 of 158
Anonymous
Not applicable

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



masdeocho wrote:
Name change?


Copy/pasted directly from the SW alert:
 
Alert: The address or phone number listed on your credit report has changed
Your FICO score has gone up to 653 on October 21, 2007.
Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:
You have a short credit history.
Message 79 of 158
Anonymous
Not applicable

I Can't Figure Out What Happened and No One will Help Me...

Okay...so I have a long credit history - never paid a bill late, always paid over the minimums on my credit cards and do not have any leins or bankruptcy's.  I did however overextend myself on credit card debt for a myriad of reasons.  6 months ago I enrolled in a credit counseling service that helped to reduce my interest rates (I owe about 29,000 in Credit card debt and 14,000 on my car).  Although American Express was not able to be included - I am managing quite well and have stuck to a budget for 6 months.  My credit score for the past 6 months has been 683 - the highest it ever was was 742.  I received a notice from my Providian card - which monitors my fico score through transunion and automatically sends me an alert if my credit score is affected by 20 points or more - that my score dropped 31 points this month.  I pulled a copy of my credit report and nothing unusual, I have not applied for credit - have not done anything but stay on the debt management program and pay down my american express.  Providian cannot answer my question and Transunion - the agency that dropped my rating by 31 points cannot answer my question...I am not sure who to go to...I called the credit counseling company and they told me that it is weird and told me to call American Express to see if they did something - but Amex doesn't know what I am talking about...someone help me - over the past 6 months I have paid off over 4,000 worth of debt and recently sent a check for an additional 7,000 to payoff another big chunk on my amex?  I thought I was doing pretty well when - bam - a punch in the gut with a 31 point drop?  Any ideas...I am at a loss of what to do other than file a dispute with Transunion...
Message 80 of 158
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