11-25-2012 01:30 PM - edited 11-25-2012 01:57 PM
Just wanted to let everyone know that reporting of a new address dropped by Equifax score 1 point for 806 to an 805. Can anyone explain to me why this would happen?
11-25-2012 01:41 PM
Must have been something else on your report causing the drop. I've never seen a change in scoring due to a address change.
I have Scorewatch through MyFico and received a score change notice. It dropped from 806 to 805, with the reason that a new address was reported on my credit report.
11-25-2012 01:53 PM - edited 11-25-2012 01:56 PM
This is what Scorewatch said:
"The decrease in your FICO score happened on the same day as a change on your Equifax Credit Report triggered an alert. Most likely, the decrease was caused by the credit report change, but this is not always the case. Your score may have dropped because of some change on the credit report that was not reported as an alert. Also, if multiple changes on the credit report happened on the same day, some may have helped the score while others hurt it."
Then the next box said: "Your current address has changed on your credit file."
This was the only thing reported.
I would try and cut and past a photo or Snag-It but it won't let me paste it in the post.
11-25-2012 03:01 PM
I have never heard of a change of address causing a score change. Weird. Did you move to a riskier neighborhood? Lol!
11-25-2012 04:26 PM
OP, the address didn't change your EQ FICO. You received a credit alert and as part of SW, it will grab your latest FICO score. Just like it says in the alert, the score change doesn't always occur as a result of that credit change. Your score change is just a net change after the last alert. For example, I once got an alert for +20 because I added an inquiry. Inquiries don't cause increases, but it was a dropped baddie that SW doesn't alert to that changed my score. And of course addresses and other demographic info aren't a part of FICO scoring anyway. Your change could be caused by any number of things like changes in util.
11-26-2012 11:38 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.