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Valued Member
Posts: 31
Registered: ‎06-30-2015
0

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?
Senior Contributor
Posts: 5,416
Registered: ‎02-24-2015
0

Re: MyFico Score Drop?


Mishka1919 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.

 


FICO8 EQ 782 TU 806 EX 786 FICO5 EQ 747 Total revolving 503000
Senior Contributor
Posts: 4,836
Registered: ‎04-11-2016

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.

New Visitor
Posts: 6
Registered: ‎02-23-2017
0

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.

Regular Contributor
Posts: 159
Registered: ‎12-27-2015
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Re: MyFico Score Drop?


Mishka1919 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.

FICO 8 Scores
2/14/17,EFX - 614, 4 Derogs,TU - 621, 6 Derogs, EXP - 603, 3 Derogs
3/7/17, EFX - 579, TU - 595, EXP - 588, same Derogs
4/8/2017 EFX - 683, TU - 791, EXP - 605 All Chargeoffs removed from TU
Valued Contributor
Posts: 1,365
Registered: ‎12-16-2014
0

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.  

NFCU Go Rewards 18k, NFCU Go Rewards AU 22k, NFCU CLOC 15k, NFCU N Rewards 2k, Amex ED preferred 12k, Amex BC 1k, USAA CL 2k, Hawaiian Air Barclay 1.2k, Venture One 10.1k, Target 3.5k, Citi Costco 2k, Citi AAdvantage 7k, NFCU Platinum AR $2.4K, Penfed Platinum Rewards $5.5k. PayPal 2.2K

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores April 2017: EQ 682 TU 696 EXP 687
Senior Contributor
Posts: 3,456
Registered: ‎11-11-2015
0

Re: MyFico Score Drop?


Flyingifr wrote:

Mishka1919 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?

AMEX BCE $9000- DCU Platinum $10000- Chase FU $11700- AMEX EDP $15000- NFCU CLOC $15000- Penfed Promise $25000- Cap1 Premier Dining $25000- NFCU Go Rewards $27100- Venture $27750 **As of 4/22/17** EX- 746(21) TU- 752(17) EQ- 739(12) UTI 3%- Clean Files-

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