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Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
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Rebucketing? EQ Dropped 30 points in a day!

I put this in another board, mistakenly - 1st time poster - sorry!

 

I have a clean history - no negatives, nothing.  The only bad thing on my report is that my credit card balances are high.  They're reporting at about 56% usage (although I've made payments that haven't reported, so it's more like 40% now).  I've been paying those down quickly - about $8000 in the last few months alone.  

 

My EQ score went from 734 to 703 today.  I am so upset.  Something triggered it because it wasn't a score watch report day.  But I compared my reports from 3/26 and today and they are identical.  7 years average age of credit, 16 years 5 months and then 16 years 6 months credit history.

 

The crazy thing is that I pulled my TU report and that score went UP 10 points - 721 to 731.

 

Anyone have any ideas about this?  How long is it going to take me to get my score back up now?  My utilisation should be under 30% by the end of the month - I don't have any other negatives to work on.  I'm really bummed!

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Equifax score plummeted 31 point in a week!

Ok, First time poster - I've been working very hard on paying off debt - in fact, I've paid off close to $8,000 in credit card debt just this year.  It still leaves me with $11,000 in credit card debt, which is about 40% of my capacity (too high, I know!)

 

My credit score was 734 yesterday.  Today it's 703!!!!  WHAT!?!?  Excuse my mild freak out!  

 

For some reason I can't get a new score (the link won't open) right now.  Anyone have any ideas?  

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Re: Equifax score plummeted 31 point in a week!

I should also add - I have no negatives, no late payments - nothing - as far as I know (last report pulled 1 week ago)

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
New Contributor
aces33
Posts: 84
Registered: ‎04-01-2013
0

Re: Equifax score plummeted 31 point in a week!

Any CC limit lowered?  From what you put down all i could think of.

Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Re: Equifax score plummeted 31 point in a week!

So, I finally was able to purchase my report - not a single thing is different from the last one when my score was 734.  But I'm thinking that may be part of the problem.  There's been about $3300 in payments made that haven't reported yet.  

 

The really strange thing is that I've been waiting for my score to go up after they report, so I was so excited when I had a Score Watch Alert, lol!  Only to see that low 703 - ugh!

 

The alert was triggered by something, but I can't figure out what it is - all my accounts are the same, credit limits unchaged, etc.  Hopefully it's just temporary and the score will go back up when those cc report the pay downs...

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Re: Equifax score plummeted 31 point in a week!

I went from 16 years 5 months credit history with 7 years average age of accounts to 16 years 6 months credit history with 7 years average age of accounts but this is the reasoning behind the 31 point landslide I had today:

 

Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:

 

You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.

 

Man, I thought I was pretty good at this game, but I'm really at a loss about why my score took such a huge hit!  It seems like the better my credit report gets, the worse my credit score - anyone have anything similar happen?  Will it bounce back?

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Re: Equifax score plummeted 31 point in a week!

THIS IS MADNESS!

 

I just pulled my Transunion report for today - it still shows the exact info as the Equifax report (still not reporting that $3300 I've paid) but get this - my TU score went UP 10 POINTS!  WTH?

 

So with both reports having identical info, my TU score went from 721 to 731 and my Equifax went from 734 to 703... does this make sense to anyone?

No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Equifax score plummeted 31 point in a week!

OP, for clarity, you pulled new EQ FICO reports from myFICO.com, right? Just making sure you didn't get the score from another website.

 

If you pulled a new EQ report look for changes that could trigger a drop:

 

1) Look for a CLD (well mentioned).

2) Look for dropped TLs.

3) Look for added accounts

4) Look for added baddies.

5) Look for stati changes or disputed accounts (even a phone call to a creditor can trigger a dispute comment by some).

6) Look for any balance changes.

7) Study the 2nd and 3rd page of your FICO report. Look for any changes to the order of the pos/neg items that hurt. If there's a change you can lose/gain pts.

8) Look at the Credit At-A-Glance page. Changes within that can impact your score in a big way. Also look for any added red flags that were not there before.

9) Look at the Accounts page. Look for any changes to balances as that can cause a drop. Also look for any red flags in the red flag column.

10) I know you said no baddies, but look again as evidenced by a red flag. If any of those updated then that can cause a score drop.

 

"Rebucketing" is always thrown out as a fast explanation. IMO, it's offered too frequently and mostly incorrectly. However, if you cycle through the above, and there are absolutely no other changes other than the oldest increasing in age, then rebucketing is a possibility. The change would have occurred on 4/1 as your oldest hit a month older. That 4/1 date would also coincide with a SW score alert which I'm assuming you have based on your statements. However with rebucketing the pos/neg items listed on #7 above would have switched up. Some of the positive might turn negative and vice-versa. IME, I went through the exact same thing when my oldest turned a month older at a half-year mark (13.5 for me). I pulled the FICO report the day prior. With zero other changes except for the pos/neg items, there were no other changes. If it turns out to be rebucketing then it just means that you'll recover sooner and items like util will count more. Expect more dramatic changes as your report changes (e.g. util, age, AAoA, etc.).

Established Contributor
cashnocredit
Posts: 1,030
Registered: ‎07-18-2009
0

Re: Equifax score plummeted 31 point in a week!

[ Edited ]

Could be worse. I was rebucketed in Jan when my oldest account reached exactly 4 years of age. EQ FICO dropped from 757 to 703 with no chnages in CLs, accounts, Inqs, or anything except a small balance decrease on one CC. Util remained unchanged at 11%.

 

In the new bucket the number of CC accounts with balances became the largest factor in the decrease. Since I use all my CCs there were smallish balances reporting on all the cards. It was a score killer in the new, 4y/o bucket.

 

It's never clear if changes are a result of new bucketing unless you look at all the variables in a CR before and after.  Oddly, the new bucket really liked adding a new CC which I did and got a fairly big increase when the new card reported since it initially reported with a 0 balance.

 

 

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Extreme-Rebucketing-Effects-757-to-690-on...

 

Depending on how you set up allerts the following will show up with a score change as it will cause an alert. Clicking on the alert will give you details.

 

From llecs list

1) Look for a CLD (well mentioned).  <-- This is most likely because there would not be an alert, you have to pull a new CR to see it.

2) Look for dropped TLs.

3) Look for added accounts *

4) Look for added baddies. *

5) Look for stati changes or disputed accounts (even a phone call to a creditor can trigger a dispute comment by some).

6) Look for any balance changes. *

 

* These items will nearly always generate an alert if you setup alerts for them.

 

 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Established Member
poldies4
Posts: 18
Registered: ‎03-09-2012
0

Re: Equifax score plummeted 31 point in a week!

Thanks!

I did pull my EQ & TU reports from myFICO. And everything on the reports is literally unchanged from last week's report where my score was 734. I have no negatives at all (no lates/collections/inquiries, etc.) on my reports. My credit limits are all the same (and are reported properly on the reports), I haven't added or closed any accounts.

I have about $3300 in payments that have been made but not reported yet - most of my cards don't report this early in the month.

The other reason I think it was rebucketing was because myFICO had the explanation that basically stated that this was the case: "you may have been moved from a group of people with newer credit to a group with older credit." I've just never had it happen before and I'm bummed my number went SO low. Hoping once that $3300 posts & I get my utilization below 30% this month, that my number will rebound even higher!
No baddies - only high CC utilization - Goal of 800!
3/2012 EQ 707 76% CC utilization ~ 3/2013 EQ 731 TU 721 56% CC
4/2013 EQ 703 TU 731 56% CC utilization *rebucketed*
4/2013 EQ 707 TU 754 45% CC utilization
4/2013 EQ 721 TU 754 45% CC utilization

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