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Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Score took a plunge

So I got my last collection removed last month and my score jumped up to 786! I canceled my score watch because I was tired of paying for it, I just resigned up and my score has dropped from 786 to 756 in a matter of about 3 weeks.  There is nothing new on my report and I havent signed for anything.  I just dont understand why there would be such a hge drop for no reason!!!


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


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Frequent Contributor
basballguy
Posts: 360
Registered: ‎02-20-2008

Re: Score took a plunge

I was jealous of your score so I reported false info to the CRA. 


Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Score took a plunge

Haha atleast that would give me an explanation as to why :smileyhappy:


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


Take the FICO Fitness Challenge
Moderator
Shogun
Posts: 12,902
Registered: ‎04-15-2011

Re: Score took a plunge

So you got your last baddie removed?  Could be a case of rebucketing?   I don't know.  Maybe something else fell off as well. 


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Score took a plunge

Yes, it was a paid collection from about 5 years ago.  They removed it and it jumped to 786 then three weeks later it took a plunge. I know it s not that big of a deal because anything over 750 is great, but I really liked that 786 lol it made 800 seem that much more attainable...


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


Take the FICO Fitness Challenge
Regular Contributor
AJC1987
Posts: 130
Registered: ‎03-29-2009

Re: Score took a plunge

I think I may ahve figured it out.....  I compared the two reports and found a difference. The 786 report had only one negative factor and that was an account opened 6 months ago.  The 756 had 2 negative factors: an account opened 6 months ago and also a short credit history, oldest of 8 years ago and average age at 3 years.

 

I guess once the collection was removed the age of the accounts became a bigger factor and that dropped the score?


Starting Score: 570
Current Score: EQF: 756.... 10.25.2012 TU: 759.....10.25.2012 EXP: 744 (vantage score)..... 10.25.2012
Closed on first house! 12.10.12

Goal Score: 750


Take the FICO Fitness Challenge
Moderator
Revelate
Posts: 8,416
Registered: ‎12-30-2011

Re: Score took a plunge


AJC1987 wrote:

I think I may ahve figured it out.....  I compared the two reports and found a difference. The 786 report had only one negative factor and that was an account opened 6 months ago.  The 756 had 2 negative factors: an account opened 6 months ago and also a short credit history, oldest of 8 years ago and average age at 3 years.

 

I guess once the collection was removed the age of the accounts became a bigger factor and that dropped the score?


That's certainly possible.  My understanding is that different metrics carry different weights dependent on what bucket you're in (which determines the range of your scores). In general, the higher you are, the more any one given point of negative information affects you.  

 

It's really hard to say in this case, but sounds simply like you need to just sit back and enjoy the ride :smileyhappy:.  

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
beb86
Posts: 1,117
Registered: ‎10-31-2011

Re: Score took a plunge


Revelate wrote:

AJC1987 wrote:

I think I may ahve figured it out.....  I compared the two reports and found a difference. The 786 report had only one negative factor and that was an account opened 6 months ago.  The 756 had 2 negative factors: an account opened 6 months ago and also a short credit history, oldest of 8 years ago and average age at 3 years.

 

I guess once the collection was removed the age of the accounts became a bigger factor and that dropped the score?


That's certainly possible.  My understanding is that different metrics carry different weights dependent on what bucket you're in (which determines the range of your scores). In general, the higher you are, the more any one given point of negative information affects you.  

 

It's really hard to say in this case, but sounds simply like you need to just sit back and enjoy the ride :smileyhappy:.  


+1 you probably went from the top end in one bucket to the low end of the next bucket.

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