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j_ayala
Posts: 7
Registered: ‎10-21-2011
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Need a FICO input on an account change

[ Edited ]

Hi , I have question about the account status and my Fico score
Could someone explain
I cancel my lease with Toyota Motor Company in March 1 and yesterday I saw fico drop my score from 667 to 660 , becsuse the account have 60 days late or zero movement and Macrh 07 I bought new car so probably fico drop more my score? And why if for 1 year I almost clean and paid all my account never change fico I have the same score 665 or 667 for year so is not matter you paid your score no changes

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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Need a FICO input on an account change

OP, I split your post to form a new one here. I had to edit the title, but changed nothing else. If you'd like to change the title, click "Options" and then "Edit Message".

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llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Need a FICO input on an account change

On the question at hand, you are looking at a FICO score from myFICO, right? Other scores from other sources may not be a FICO or if so, might be a different version of a FICO.

 

If you cancelled on March 1, I'll assume you were alerted to the status change of closed via a SW alert which would be an EQ FICO. SW alerts only show a net score change and while it throws out a reason behind the alert (assuming the change in lease status in your example), it doesn't necessarily mean your score changed as a result of that alert. For example, I once got a SW alert for +20 because I added an inquiry. Inquiries don't increase your FICO but it was another change that caused my score to increase that SW doesn't pick up on. In other words, your score could have changed due to something else, like changes in util, etc.

 

If you opened a new acct, you probably might see a FICO ding from that.

 

You really don't gain point by paying accts on time. You gain over years with the added age, but year-to-year likely won't help all that much.


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