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Rebucketing? EQ Dropped 30 points in a day!

Blogger

Re: Equifax score plummeted 31 point in a week!

Computer codes are not as simple and elegant as Pythagorean Theorem. Smiley Happy They can involve hundreds of variables with thousands of if statements. Missing one if statement, or mistake a minus sign, and you walk on a completely different path. Smiley Happy

 

Not saying this was a system glitch/error fix, but I think we should still keep this possibility as a contender.

Message 31 of 34
Established Member

Re: Equifax score plummeted 31 point in a week!

Only thing I have to add is I can see scenarios where the formula is skewed inadvertently between getting pulled from the CRA and getting plugged into the FICO formula.  The FICO formula itself will always return the same thing given the same data--but the data being fed to it is, I imagine, often not 100% complete.  One missing bit of information might trigger a point drop or increase depending on who's running the score.

Starting Score: 01/12/2013 EQ 683
Current Score (myFico): 5/8/13 TU 734, EQ 738 05/04/13 EX 722
Last App 05/3/2013 - Off to garden for the rest of the year!

Take the myFICO Fitness Challenge / myFICO Forums Common Abbreviations
Message 32 of 34
Established Member

Re: Equifax score plummeted 31 point in a week!

Just wanted to give a quick update -

As you can see in my signature, I believe I had a possible rebucketing earlier this month... my score plummeted! And even when my utilization went down, I only got a 4 point bump on my EQ score (my TU got a BIG bump, though!). Well, I have 6 CC & 4 were showing a balance, even though 2 of them were really PIF (and the balances reported were under $10) - those finally reported as PIF & I got a 14 point EQ bump! I'm so happy!

It gives me some reassurance that the new scorecard will be a good thing in the long run... I wasn't so sure about that for awhile!
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
Message 33 of 34
Established Member

Re: Equifax score plummeted 31 point in a week!

Rebucketing Update - 

 

February--my EQ FICO score was 726. No negatives, but I had one credit line that was pretty much maxed out.

April 8--it had dropped to 699. The only difference in the 2 reports was that I had paid down a maxed out credit line a little bit (but was still about 60% utilization). 

May 6--I finished paying down that credit line, my utilization is now 0%--and my EQ FICO has jumped up to 745. 

 

So that's a relief!

Message 34 of 34