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Established Member
Posts: 11
Registered: ‎04-17-2007
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I Will Never Understand Fico Scoring

My FICO score went up 7 points when I paid off a credit card balance at the end of January.  Today, I got a notice that my score dropped 7 points because: 

 

  • There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
  • I have done nothing...I haven't opened any new accounts, and I have no balances on any of my credit cards.  There was no new activity on any account, The only 2 accts with balances are my car lease and mortgage, both of which dropped...so why did my score drop 7 points after it was just raised?  Who can I contact over something like this?

    Super Contributor
    Posts: 8,173
    Registered: ‎03-25-2007
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    Re: I Will Never Understand Fico Scoring

    Understanding FICO scoring is an oxymoron  :smileyvery-happy:
    The slide from grace is really more like gliding
    And I've found the trick is not to stop the sliding
    But to find a graceful way of staying slid
    Established Contributor
    Posts: 852
    Registered: ‎09-18-2007
    0

    Re: I Will Never Understand Fico Scoring

    ohhhh, just posted basically the same problem.  Hopefully its a temporary thing....

    Starting Score: EQ 679, TU 697
    Current Score: EQ 680, TU 672
    Goal Score: EQ 720, TU 720


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    Epic Contributor
    Posts: 28,098
    Registered: ‎04-01-2007
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    Re: I Will Never Understand Fico Scoring


    lexus4me wrote:

  • There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.


  • Hi, lexus, welcome to the forums! Was this the only maybe-it's-why that you got on your alert?
    * Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
    FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
    Regular Contributor
    Posts: 148
    Registered: ‎02-04-2008
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    Re: I Will Never Understand Fico Scoring

    that happened to me months back but I discovered I fell into a different bucket once my acct's aged.
    I finally made the 700 club, now 800 club, watch out - Here I come!
    Established Member
    Posts: 27
    Registered: ‎01-29-2008
    0

    Re: I Will Never Understand Fico Scoring

    I got the exact same alert, with a 17 point drop. 
    Established Member
    Posts: 11
    Registered: ‎04-17-2007
    0

    Re: I Will Never Understand Fico Scoring

    But I thought 'aging' was a good thing...meaning longer credit history.  Why would that make scores drop?
    Established Member
    Posts: 11
    Registered: ‎04-17-2007
    0

    Re: I Will Never Understand Fico Scoring

    There was not even an alert that was triggered, as the note says...'something' changed on my credit report...so I pulled it and it is EXACTLY the same as the one that I pulled when my score had risen by 7 points...FICO giveth...and FICO taketh away!
     
     
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