Hello,
So this morning I woke up to one of my credit cards showing a zero balance finally it was a credit one, had a balance of 250 out of 300, I paid it off completely but my experian went from 638 to 609
why could this have happened? I still have my overall util around 50% with my capital one platinum and the journey card. Any ideas?
So this morning I woke up to one of my credit cards showing a zero balance finally it was a credit one, had a balance of 250 out of 300, I paid it off completely but my experian went from 638 to 609
why could this have happened? I still have my overall util around 50% with my capital one platinum and the journey card. Any ideas?
I just checked CK and noticed a collection got deleted as well, but this was on my equifax. Only experian and equifax was showing it. It was from T-Mobile and DCI. My CK equifax did jump 43 points but myfico doesn't show that change...so confused right now.
Do you have other baddies on your report or was that the last one?
Also, just wondering...the score drop was a FAKO?
@Rebuilding69 wrote:Do you have other baddies on your report or was that the last one?
Also, just wondering...the score drop was a FAKO?
Yeah I have several late payments from Fedloan from over 2 years ago and a repo from 2013, but that was my last collection, The score drop was on the Experian here from myfico. I received an increase on my equifax on creditkarma (FAKO) of about 43 points, that shows both the zero balance on the credit card and the removed collection.
@Anonymous wrote:The beginning of the month I had a CK EQ drop from 677 to 636. I had one new card report - which lowered my UTIL and I had the last collection drop off...(there is still some lates out there and a tax lien - but nothing new).
Made no sense to me at the time - and still doesn't - I would have thought the 3rd card reporting would have went up as well as the collection dropping....sometimes it makes NO SENSE.
Yeah, ugh and it sucks because I was planning on looking for someone to refi my auto loan with by the end of the month I was just waiting for this credit card to show 0 balance and the collection to get deleted now this
@Charger2014 wrote:
I paid it off completely but my experian went from 638 to 609
To determine the cause(s) of any scoring change you have to carefully review reports from before and after the change. Revolving utilization is a significant scoring factor but it is not the only one.
@Charger2014 wrote:
I just checked CK and noticed a collection got deleted as well, but this was on my equifax.
That won't help you to determine why your score with Experian changed. Additionally, do not rely on VantageScores from CK as an indicator of what will or will not happen to your FICO 8's. You cannot use a score generated by one model to determine a score generated by a different model even if both models are FICO's.
@Charger2014 wrote:
My CK equifax did jump 43 points but myfico doesn't show that change...so confused right now.
myFICO is trigger based. A removal is not a trigger.
@Anonymous wrote:The beginning of the month I had a CK EQ drop from 677 to 636. I had one new card report - which lowered my UTIL and I had the last collection drop off...(there is still some lates out there and a tax lien - but nothing new).
Made no sense to me at the time - and still doesn't - I would have thought the 3rd card reporting would have went up as well as the collection dropping....sometimes it makes NO SENSE.
You're overlooking one or more factors that had a bigger scoring impact than the reduced utilization and removal of the collection. in any case, unless you have a creditor that uses the EQ VantageScore that CK provides it is not relevant.