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New line of credit/Fico drop

Member

Re: New line of credit/Fico drop


HiLine wrote:

ChiAndruw wrote:

Yes, it did report a balance of $28. 


There you go. Your FICO score drop was caused by the following 3 events:

 

A lowered AAoA

A higher number of accounts that show a balance

A higher percentage of accounts that show a balance

 

The latter 2 are the ones you forgot to account for Smiley Wink

 


besides that Fico scoring and logical reasoning does not compute..... my account shows a $4 balance from Bank of America from $0 and my score jumps up 24 points..... Trying to understand Fico scoring 100% is like trying to understand a woman. You can try, but it'll never fully happen.

Message 11 of 15
Blogger

Re: New line of credit/Fico drop


hayabusa wrote:

HiLine wrote:

ChiAndruw wrote:

Yes, it did report a balance of $28. 


There you go. Your FICO score drop was caused by the following 3 events:

 

A lowered AAoA

A higher number of accounts that show a balance

A higher percentage of accounts that show a balance

 

The latter 2 are the ones you forgot to account for Smiley Wink

 


besides that Fico scoring and logical reasoning does not compute..... my account shows a $4 balance from Bank of America from $0 and my score jumps up 24 points..... Trying to understand Fico scoring 100% is like trying to understand a woman. You can try, but it'll never fully happen.


Were you having zero card reporting a balance prior to that? Having  one credit card balance is better than having no balance at all.

 

Message 12 of 15
Member

Re: New line of credit/Fico drop


HiLine wrote:

hayabusa wrote:

HiLine wrote:

ChiAndruw wrote:

Yes, it did report a balance of $28. 


There you go. Your FICO score drop was caused by the following 3 events:

 

A lowered AAoA

A higher number of accounts that show a balance

A higher percentage of accounts that show a balance

 

The latter 2 are the ones you forgot to account for Smiley Wink

 


besides that Fico scoring and logical reasoning does not compute..... my account shows a $4 balance from Bank of America from $0 and my score jumps up 24 points..... Trying to understand Fico scoring 100% is like trying to understand a woman. You can try, but it'll never fully happen.


Were you having zero card reporting a balance prior to that? Having  one credit card balance is better than having no balance at all.

 


I had multiple accounts reporting about 5 cards reporting a balance at the time. Total was only about $1,500 between 5 cards / 100k+ limits.

 

Like I said I understand Fico scoring and obsessed over credit more than most people, even on forums I would place myself at the top 1% of obsessed people lol, and Fico scoring is always kinda strange. Especially on the reasons they give you.

Message 13 of 15
Frequent Contributor

Re: New line of credit/Fico drop


HiLine wrote:

ChiAndruw wrote:

Yes, it did report a balance of $28. 


There you go. Your FICO score drop was caused by the following 3 events:

 

A lowered AAoA

A higher number of accounts that show a balance

A higher percentage of accounts that show a balance

 


Ahh - That makes perfect sense: A new account changes the whole scoring equation - Thanks, HiLine !!

Message 14 of 15
Highlighted
Member

Re: New line of credit/Fico drop

There you go. Your FICO score drop was caused by the following 3 events:

 

A lowered AAoA

A higher number of accounts that show a balance

A higher percentage of accounts that show a balance

A New Inquiry

 

 


added one

 

Message 15 of 15