Rebucketing? EQ Dropped 30 points in a day!

[rina_b]

Yes - I purchased 2 EQ FICOS for comparison. There are only 2 differences:

(1) I had no hard pulls on the first report, now I have one. 

(2) I have been paying down a credit line, so my utilization has decreased.

No accounts are reporting differently. The feedback that is being offered by FICO is that the balances on my installment loans (law school loans) are too high. They are high, but are a tiny bit lower than they were in february...there was no comment about my installment loans in the February report. Is it possible EQ is treating my student loans differently now?

[llecs]

If rebucketed, FICO views and treats your accounts a bit differently. Weight of util can change. Weight of length of history/AAoA can change. Weight of new accts are different, etc.

When rebucketed, the pos/neg factors will change up.

[dddewdrop]

     You all have such good fico scores compared with me. Reading this post sounds like kids arguing with the teacher over why they got an A- instead of an A on the test when I got a D lol.

[YahComb]

it looks like the 2 you pulled were in different months-which means every account on you report is 1 month older. Can you tell us the age of each account on the last report, and the age of each account on the most recent one pulled?

[rina_b]

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@YahComb wrote:

it looks like the 2 you pulled were in different months-which means every account on you report is 1 month older. Can you tell us the age of each account on the last report, and the age of each account on the most recent one pulled?

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In April

Average age of my accounts per MyFico: 3 years. 

CitiBank Personal Credit Line: 4 year 7 months (paying down--was at 90% utilization in Feb, now has 55% utilization)

Macy's Card: 2 years 6 months (zero balance)

Ann Taylor Card: 2 years 6 months (zero balance)

7 Student Loans opened in August 08, 09 and 10 (total is 128,000 -- these are "maxed" the original amount I borrowed was 110k but interest accrued while I was in law school)--I've been paying for 12 to 18 months on these depending on the loan.

I have a few closed accounts that are still reporting--oldest is 6 years, 9 months old. 

Does any of this suggest I was due to be rebucketed?

Here I was in February thinking my EQ score was golden and I just had to bring the others up so we could buy a home...and then my EQ score takes a dive. How quickly can I recover? 

[YahComb]

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@rina_b wrote:

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@YahComb wrote:

it looks like the 2 you pulled were in different months-which means every account on you report is 1 month older. Can you tell us the age of each account on the last report, and the age of each account on the most recent one pulled?

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In April

Average age of my accounts per MyFico: 3 years. 

CitiBank Personal Credit Line: 4 year 7 months (paying down--was at 90% utilization in Feb, now has 55% utilization)

Macy's Card: 2 years 6 months (zero balance)

Ann Taylor Card: 2 years 6 months (zero balance)

7 Student Loans opened in August 08, 09 and 10 (total is 128,000 -- these are "maxed" the original amount I borrowed was 110k but interest accrued while I was in law school)--I've been paying for 12 to 18 months on these depending on the loan.

I have a few closed accounts that are still reporting--oldest is 6 years, 9 months old. 

Does any of this suggest I was due to be rebucketed?

Here I was in February thinking my EQ score was golden and I just had to bring the others up so we could buy a home...and then my EQ score takes a dive. How quickly can I recover? 

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sorry i got you confused with OP.  i was looking for any accounts that might have hit certain milestones. i guess the point still remains. doesn't really look like anything was passing major miletones. guess im still stumped lol

[dzlqw4]

How many buckets are there? Newest credit users bucket, Newer,New,Old,Older,Oldest...  Seriously is there just two?

[llecs]

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@dzlqw4 wrote:

How many buckets are there? Newest credit users bucket, Newer,New,Old,Older,Oldest...  Seriously is there just two?

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I believe there are a dozen for the version on here. The FICO08 versions added a couple of more buckets.

[axxy]

Besides rebucketing, another possible explanation for a sudden score drop, it seems to me, could be that the higher score might have been caused by a bug in the FICO software.  If they fixed such a bug, the score would go down to what it should have been in the first place.  I wonder how often they fix such bugs, and if there is any way for us to find out if we're impacted by such fixes.

[llecs]

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@axxy wrote:

Besides rebucketing, another possible explanation for a sudden score drop, it seems to me, could be that the higher score might have been caused by a bug in the FICO software.  If they fixed such a bug, the score would go down to what it should have been in the first place.  I wonder how often they fix such bugs, and if there is any way for us to find out if we're impacted by such fixes.

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I doubt there are any bugs. It's one exact formula applied to everyone. Remember back in school learning the Pythagorean theorem? A (squared) + B (squared) = C (squared). If you calculated a math problem using that formula, and recalculated the same problem over and over and over again, you'll get the same answer everytime. There wouldn't be a glitch in your answer because the formula is the same. Likewise with FICO scoring, the formula is the same when it gets delivered on myFICO, to lenders, etc. Once created, they never edit it. One grade school wouldn't calculate the Pythagorean theorem any differently than another.