Reply
New Member
Posts: 1
Registered: ‎05-26-2013
0

Fico score drop for opening disputes on Equifax report??

[ Edited ]

Yesterday I opened  disputes on 6 installment accounts with Equifax.  No changes on my credit report are showing but today myFico Scorewatch notified me of a score change.  When I logged on to MyFico it shows 6 accounts in dispute and my Fico score dropped 45 points.  Nothing negative has been added to my report.  WHAT GIVES?  Why is my score dropping upon filing these disputes.  Any insight into this would be helpful. Everyone says filing a dispute does not effect your score but clearly it has.

Moderator
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Fico score drop for opening disputes on Equifax report??

When you dispute OC accounts, certain aspects of those accounts are removed from scoring.  Payment history and balance are a couple.  It could drop your score.  When the dispute is resolved, your score with either go back pre dispute or if they udate/delete, up or down.

 

Welcome to the forums.

Valued Contributor
Posts: 1,065
Registered: ‎03-16-2013
0

Re: Fico score drop for opening disputes on Equifax report??


guiness56 wrote:

When you dispute OC accounts, certain aspects of those accounts are removed from scoring.  Payment history and balance are a couple.  It could drop your score.  When the dispute is resolved, your score with either go back pre dispute or if they udate/delete, up or down.

 

Welcome to the forums.


Thanks guiness this has happened to me also and I always wondered why the score drop. 

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Fico score drop for opening disputes on Equifax report??

I'll throw in there that SW alerts only show a net score change and that score change may not be 100% tied to the alert reason. for example, I got a SW alert for +20 because I added an inquiry. Inquiries don't increase your score but it was due to a baddie dropping that led to the net score change. In other words, there could be other things going on like dropped accounts, added baddies, increased util, etc. Specifically tied to those installments, you could have had one or some drop due to the dispute and that can result in a loss. Or maybe oone or more verified early and that can lead to a loss if the baddie remained. Or if the baddie updated w/ a cleared dispute, then it could have updated worse than prior to the dispute resulting in a net loss. I'd wait for all of your disputes to clear before worrying.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.