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Regular Contributor
Madison
Posts: 163
Registered: ‎06-18-2007
0

How can FICO score not change in 30 days?

When you have reduced your revolving credit utilization, inquiry dropped from 1 to 0, paid off two credit card balances to $0, increased CL on one CC from $2000 to $3000 with balance dropping from $700 to $600 in that period and it shows and changes show up on my FICO report, made all my Dec. Payments on time and paid more than minimum payments. EQ is supposed to be a snapshot of where you stand each day. I know my credit is better today than it was 30 days ago and yet EQ and MyFico says it isn't. I am totally lost. My credit score of 658 hasn't changed since Dec. 22, 2007. I am trying to improve my score to get home mortgage loan and I can't understand why it isn't moving up. Any advice or explanations?
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
0

Re: How can FICO score not change in 30 days?



Madison wrote:
When you have reduced your revolving credit utilization, inquiry dropped from 1 to 0, paid off two credit card balances to $0, increased CL on one CC from $2000 to $3000 with balance dropping from $700 to $600 in that period and it shows and changes show up on my FICO report, made all my Dec. Payments on time and paid more than minimum payments. EQ is supposed to be a snapshot of where you stand each day. I know my credit is better today than it was 30 days ago and yet EQ and MyFico says it isn't. I am totally lost. My credit score of 658 hasn't changed since Dec. 22, 2007. I am trying to improve my score to get home mortgage loan and I can't understand why it isn't moving up. Any advice or explanations?



Madison, make sure that the changes that you describe are actually reporting as such. My EQ hasn't moved since I bought SW.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
0

Re: How can FICO score not change in 30 days?

[ Edited ]
In my opinion:

SW may not always be a snap shot. You might have to wait 10-14 days longer from the day SW last reported, after the change on your CR for true score. However a Score Power is a current snapshot at the time you do it. Give it another 14 days and see if score reflects all the newer changes that were reported on your CR. I believe SW reports some things at different times.

Message Edited by ilovepizza on 01-25-2008 04:36 PM
If we never set higher goals we would never get as far.
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Regular Contributor
Madison
Posts: 163
Registered: ‎06-18-2007
0

Re: How can FICO score not change in 30 days?

37 days and still no change in FICO score......ridiculous!! That was money well spent with MyFico.
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
0

Re: How can FICO score not change in 30 days?

[ Edited ]

Madison wrote:
37 days and still no change in FICO score......ridiculous!! That was money well spent with MyFico.



Hey Madison, wait until after the end of the month. I called one of my creditors and they told me that they report the 1st of every month. It is not FICO's fault. The CRA must do their jobs and update. My CRs haven't been updated in nearly two months! I can hardly blame FICO or SW for that.

Message Edited by ByrdMan on 01-28-2008 11:49 AM
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Regular Contributor
Madison
Posts: 163
Registered: ‎06-18-2007
0

Finally, after 38 days.....Got a new FICO score!!

[ Edited ]
It went up 18 points from 658 to 676.....four more points to get above magic 680 to apply for mortgage. It has been a long row to hoe, EQ was 569 on May 30, 2007.


Message Edited by Madison on 01-30-2008 07:28 PM
Moderator Emeritus
ByrdMan
Posts: 7,975
Registered: ‎12-19-2007
0

Re: Finally, after 38 days.....Got a new FICO score!!

Congratulations on the move. You'll get those four points in no time.
___________________________________________________________________
Do what is true in spite of the consequences--your future is only as true as you are.
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: How can FICO score not change in 30 days?

Madison, I laugh with you, and not at you.  Impatience is a habitual thread amongst we FICO-holics!  I have gone through many days of looking for the immediate yellow brick broad that was, alas,  still being broadcast only in black and white.  Any FICO plan must assume that whatever you do today will not be posted and scored for three months from now.  If sooner, it is a blessing.  But any good plan will assume that the CCC and resulting CRA actions will be delayed one to three months from your actions.  Dat be a fak, jak!
Valued Member
Vic
Posts: 32
Registered: ‎08-13-2007
0

Re: How can FICO score not change in 30 days?

And yet, any derogatory info seems to be on a warp-speed track to posting! Human nature is slow to reward, quick to punish. Whenever $$ is involved, human nature seems to be displayed at it's most candid. Just my 2 cents worth- Vic
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: How can FICO score not change in 30 days?



Vic wrote:
And yet, any derogatory info seems to be on a warp-speed track to posting! Human nature is slow to reward, quick to punish. Whenever $$ is involved, human nature seems to be displayed at it's most candid. Just my 2 cents worth- Vic


as a wise man once said:
 

 
TheNewWorldMan wrote:
Remember that credit bureaus use different methods to receive and process good versus bad credit information.

Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...


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And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

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