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Received the alert today that one of my accounts increased $56 on my EQ report and my score went up 8pts, it can't be because of that one reason. I did just pay down a $4800 Venture card to $0 but the next statement cuts on the 25th and haven't seen any updates on that new balance_very strange on how FICO works.
The alert for the balance change and the scoring difference aren't related. The score increase came from a different reason, it's just figuring out what that reason was.
Did you have an inquiry 12 months ago that aged? It is the first of the month so it could be one of many factors that updated in their system. Your AAoA could have hit a threshold to increase. It is hard to say specifically what is changed.
When you subscribe to MyFico its a double edged sword, you know exactly what is going on with your credit at all times and the other edge is you know exactly what is going on with your credit at all times. I see these changes all the time, most of the time they are going in a positive direction but occasionally you lose a few points for some unknown or illogical reason because the formula is complex and sensative to all kinds of factors. I just do the right behaivors and I don't sweat the small stuff. Just look at my scores from month the month and as long as I am doing the right stuff I don't worry much.
@Anonymous wrote:When you subscribe to MyFico its a double edged sword, you know exactly what is going on with your credit at all times and the other edge is you know exactly what is going on with your credit at all times.
I'm not following this. Sounds like identical sword edges to me?
@Anonymous wrote:Did you have an inquiry 12 months ago that aged? It is the first of the month so it could be one of many factors that updated in their system. Your AAoA could have hit a threshold to increase. It is hard to say specifically what is changed.
This is a great point you bring up but most of my inquiries were in Dec of last year and it may be that. Like I said, my C1 Venture balance hasn't reported to CR just yet (should be today or tomm that I get the alert).
@gsully00 wrote:Received the alert today that one of my accounts increased $56 on my EQ report and my score went up 8pts, it can't be because of that one reason. I did just pay down a $4800 Venture card to $0 but the next statement cuts on the 25th and haven't seen any updates on that new balance_very strange on how FICO works.
The MyFICO alerts don't provide reasons for a score change.
There are certain events, such as a balance change, which trigger MyFICO alerts.
If there happens to be any difference between your present score at that particular bureau,
and the previous score reported to you from that bureau, the score change is tacked on to the alert.
There is not necessarily any connection at all between the score change and the alert substance.
E.g., I might get an alert that says my balance on a particular account increased by $1100, and my score
has increased by 2 points. There was no connection at all between the 2 events. But if I got an alert that
says my balance on that account decreased by $1100, and my score has increased by 2 points, I might be
seduced into believing -- even after my 2 years of getting used to MyFICO -- that the reason for the score
increase was the decrease in the account balance.... which might be the case... and might just as easily not be the case.