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dlevan01
Posts: 1
Registered: ‎05-26-2013
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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.

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guiness56
Posts: 22,406
Registered: ‎01-17-2008
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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
ezdoesit
Posts: 1,053
Registered: ‎03-16-2013
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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
llecs
Posts: 32,869
Registered: ‎08-04-2007
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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.


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