Improved Report However Score Still Dropped

[Anonymous]

Hi guys, I'm new here. Okay so let me start by saying: I know this was a topic a few years back, but I need some advice and I don't want to write on an old thread.

I use a few websites to monitor my credit score: Credit Karma, Credit Seasame, Capital One, Merrick Bank, and Discover.

Some background: Back in the beginning of this year my score took a big hit, dropped down to the 300s. I've worked hard, got serious about my credit, starting filing disputes for inaccurate information, calling my creditors, writing letters, the whole shebang. It took me almost 3 months but I got my score up to 595. Yay me! One of the biggest issues I wanted to correct immediately was my credit utilization it was at 56% (bad but not horrible, lol). 

The problem: I paid down my cards (I have 2) to 10% utilization. I have seen no other information change on my report at the exact same time. On May 27th my score was 595, on May 30th (with no changes other than lowering my credit utilization) my score dropped to 552! I've crossed checked across all the sites I get my score from. 3 out of the 5 (CK, CS, and C1) all reported no other changes except the utilizaiton improvement and my score still dropped!

My score has since raised a bit now to 604, but only due to more negatives falling off, and me improving other areas. ANy ideas as to why this would have happened? Or what I can do to correct this issue? I've reached out to TransUnion and am awaiting a response. Thank you!

[DollyLama]

Did you recently pay off an installment loan that was your only one? 

Spend $1 and get all 3 scores WITH reports from each bureau with Credit Check Total, it's an offer for 1 week, just be sure to cancel before the 7th day. It is true FICO scores, and will list all inquires, everything on your reports. These other sites CK, CS are not true FICO scores, they use different scoring models like Vantage that lenders really do not pull. You will have a better idea of where you stand, or if an old collection could have recently popped up.

[Anonymous]

CK, CS and C1 all provide the same VS 3.0 score using TU data, in addition to an EQ score from CK using the same VS 3.0 model.  They aren't FICO scores.  How has your score through Discover changed during this time?  That score is a genuine FICO score and a better representation of where you're at.

[Anonymous]

I signed up for Discover on May 10th my score was 593 with Experian. I have to wait a month before it will update again. That's the first time I've ever seen my Experian score, lol.

[Anonymous]

I paid on 2 revolving accounts: credit cards. Lowered the credit card utilization from 56% down to 10%. TU updated after that and dropped my score.

Equifax finally updated with the payments and RAISED my score from 595 to 630. So I dont understand why TU would lower it for the same information?

And thank you for the information about Credit Check Total. I may give it a go.

[DollyLama]

A collection long forgotten or unknown may have just popped up, TU will not penalize for reducing utilization. Reason the suggestion of CCT. Also instead of 10% utilization, you get a bigger boost if under 8.9 percent. Are these the only 2 cards you have? I subscribe here to myfico for scores, EX and EQ reward me much higher points on individual utilization versus TU which only factors across ALL bankcard/store balances total. 

[Anonymous]

OP, it's important to understand that a score change more often than not is unrelated to the alert you received.  So, you received an alert that your balance(s) dropped and since your score was different your assumption is that the event that trigger the alert caused the score change as well.  This is not the case however, but I can understand why you may think that since it is confusing the way it works.

[Anonymous]

Nothing has "popped up" all of my negative information has actually been being removed. No new information at all, no new collections, no missed payments, no new inquiries, no new accounts/cards/loans, nothing. Yes these are the only 2 cards I have. The exact same information was updated across all my credit reports, however only TU lowered my score. I monitor my credit very very closely as I am working toward a goal. And when i say nothing has changed besides the utilization, that's what I mean.

However, since the incident I've had negatives fall off of my report thus raising my score.

[medicgrrl]

You can sneeze and your VS will go down. Monitor your FICO scores since that's what the lenders use.

A couple of weeks ago my VS with TU dropped, meanwhile my FICO score went up 113 points based on the exact same information. Credit Karma is good for monitoring changes to your report, but that's about it.

[Anonymous]

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@medicgrrl wrote:
You can sneeze and your VS will go down. Monitor your FICO scores since that's what the lenders use.

A couple of weeks ago my VS with TU dropped, meanwhile my FICO score went up 113 points based on the exact same information. Credit Karma is good for monitoring changes to your report, but that's about it.

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That makes a lot of since. I know that the score given by CK isnt correct. I use it just to keep in mind where I may be FICO wise (if that makes sense).  From what I've seen CK score is usally 10-20 pts from whatever my score usually is (ex: CK will say my score is 604, if I apply for a card, the denial letter might say my score is 612). 

Since Discover hasnt updated with the new FICO yet I just figured that since VS went down so did my actually FICO (at least for the same CRA).