Reply
Established Member
Posts: 17
Registered: ‎04-07-2009
0

Is this even possible

I anxiously opened an email for my FICO alert, only to be so let down. My BK dropped off as of 8/1/12. This is the first score watch alert I've gotten, and I expected an increase in my score. It went from 635 as of July 25 to 585 as of today? How is that possible? I have 2 late payments back in 2010, and have only applied to refinance a car recently. No recent inquires, missed payments, etc. I am so disappointed.

Valued Contributor
Posts: 2,656
Registered: ‎06-05-2008
0

Re: Is this even possible


hockeymom2119 wrote:

I anxiously opened an email for my FICO alert, only to be so let down. My BK dropped off as of 8/1/12. This is the first score watch alert I've gotten, and I expected an increase in my score. It went from 635 as of July 25 to 585 as of today? How is that possible? I have 2 late payments back in 2010, and have only applied to refinance a car recently. No recent inquires, missed payments, etc. I am so disappointed.


Print both reports - i.e. before and after, and compare them line-by-line.  If you share the differences here, I'm sure everyone will chime in.  If you haven't looked at the report, you should.  There might be a new baddie you're unaware of.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Established Contributor
Posts: 1,043
Registered: ‎02-03-2009
0

Re: Is this even possible

Once the BK drops, you get "re-bucketed" into the group of people with no BK reporting. In some cases, this can cause your score to drop, becausemany people in this group have no baddies at all (if this makes sense). You are now in thelower 'tier' of your new bucket.

 


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (4), Chase (6), Nordstrom Visa,US Bank Cash+, Huntington Voice, UMB Visa, Nasa FCU Plat Cash Visa, Barclay's Visa, Citi (5), Discover IT, Walmart Discover, Sam's MC, Cabela's Visa, Cap One QS, BOA (2), BMW Visa, Comenity Visa/MC (3), Ebates Visa Siggy, 5/3 RLR MC, DC Premier MC, Macy's AMEX; A few store cards.

Current Scores: EQ My Fico (12/14): 785; TU MyFico (12/14): 793; EX (My Fico): 765; Walmart TU Fico 08 (1/2015): 788
Valued Contributor
Posts: 2,976
Registered: ‎02-09-2012
0

Re: Is this even possible

Provided that there is nothing else new reporting, then your score will go up fairly quickly through that "bucket"

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.