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MyFico Score Drop?

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Anonymous
Not applicable

MyFico Score Drop?

I just recently signed up for the MyFico 3B monthly service. Today I got an alert that my transunion score dropped 1 point from 770 to 769. It didn't give me any info as to why.

Just to note, on Feb 9th I was approved for amazon's vida signature but they pulled by Experian and equifax the equifax took a 3 point hit.

Any ideas what could make my TU drop a point with utilization only going down?
Message 1 of 7
6 REPLIES 6
SouthJamaica
Mega Contributor

Re: MyFico Score Drop?


@Anonymous wrote:
I just recently signed up for the MyFico 3B monthly service. Today I got an alert that my transunion score dropped 1 point from 770 to 769. It didn't give me any info as to why.

Just to note, on Feb 9th I was approved for amazon's vida signature but they pulled by Experian and equifax the equifax took a 3 point hit.

Any ideas what could make my TU drop a point with utilization only going down?

It never says why.

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 2 of 7
Anonymous
Not applicable

Re: MyFico Score Drop?

I honestly wouldn't consider 1 point a "drop" really; scores can fluctuate a couple of points here and there.  My FICO scores are pretty consistent, but will go up or down a point every few weeks at times.  My VS 3.0 scores are +/- 1-2 points almost every week with my CK update. 

 

Basically my suggestion is to simply not sweat it since it's 1 point.

 

A 3 point drop from receiving an inquiry is very typical.  Expect to see another point drop once that account reports.  You should see your score rise back up within a few months though as the inquiry and "new account" ages.

Message 3 of 7
Anonymous
Not applicable

Re: MyFico Score Drop?

My understanding is that there is a fine line on how utilization affects your score. Utilization too close to zero may have a small impact on your score. I have read that it's best between 5%-7%. Ofcourse it depends on your specific situation, it is worth looking into. Although, as others have mentioned, a 1 point drop in 1 month is negligible.

Message 4 of 7
Anonymous
Not applicable

Re: MyFico Score Drop?


@Anonymous wrote:
I just recently signed up for the MyFico 3B monthly service. Today I got an alert that my transunion score dropped 1 point from 770 to 769. It didn't give me any info as to why.

Just to note, on Feb 9th I was approved for amazon's vida signature but they pulled by Experian and equifax the equifax took a 3 point hit.

Any ideas what could make my TU drop a point with utilization only going down?

Reasons:

 

1: The tide came in on Chesapeake Bay

2: The Full Moon

3: Gwen Stafani broke up with her latest BF

 

Need any more reasons? I lost 65 points in December and had NO changes in my CRA files except a payment on my car loan. No one can explain to me where those 65 points went or why. Credit Scores are like a 3-card Monte game - you get one, you lose 2 - that's how they keep you playing.

Message 5 of 7
Anonymous
Not applicable

Re: MyFico Score Drop?

You will see these small changes all the time, sometimes there is an alert that ties a specific change to the score change like paying down a card or increase in utiliazation.  I have learned to ignore these little shifts as long as month to month things are going well overall.  

Message 6 of 7
Anonymous
Not applicable

Re: MyFico Score Drop?


@Anonymous wrote:

@Anonymous wrote:
I just recently signed up for the MyFico 3B monthly service. Today I got an alert that my transunion score dropped 1 point from 770 to 769. It didn't give me any info as to why.

Just to note, on Feb 9th I was approved for amazon's vida signature but they pulled by Experian and equifax the equifax took a 3 point hit.

Any ideas what could make my TU drop a point with utilization only going down?

Reasons:

 

1: The tide came in on Chesapeake Bay

2: The Full Moon

3: Gwen Stafani broke up with her latest BF

 

Need any more reasons? I lost 65 points in December and had NO changes in my CRA files except a payment on my car loan. No one can explain to me where those 65 points went or why. Credit Scores are like a 3-card Monte game - you get one, you lose 2 - that's how they keep you playing.


Could one of your derogatory accounts have updated?

Message 7 of 7
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