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TU Score Dropped by 50 Points???????

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Barneygirl
Frequent Contributor

TU Score Dropped by 50 Points???????

Okay folks, I am at a complete loss....  my TU score dropped 50 points in 30 days!!!  And the only thing that's changed is that one of my two credit cards held a $300 balance (instead of $0) on a $2000 limit.  That is the ONLY change!!!!

 

What the heck!????!!!!!

 


Current FICO Scores: EQ749; TU732; EX733
Message 1 of 32
31 REPLIES 31
user5387
Valued Contributor

Re: TU Score Dropped by 50 Points???????

Are you getting your scores from this site?

 

The TU scoring model has recently changed, from TU 98 to TU 08.

 

If this change is applied to a specific credit report, the score can go up or down.

 

Also, if your utilization goes up, as you mention, I would expect a score hit, but probably not this dramatic.

 

Message 2 of 32
HiLine
Blogger

Re: TU Score Dropped by 50 Points???????


@user5387 wrote:

Are you getting your scores from this site?

 

The TU scoring model has recently changed, from TU 98 to TU 08.

 

If this change is applied to a specific credit report, the score can go up or down.

 

Also, if your utilization goes up, as you mention, I would expect a score hit, but probably not this dramatic.

 


+1

Message 3 of 32
Barneygirl
Frequent Contributor

Re: TU Score Dropped by 50 Points???????

yes, I buy all three scores off here once a month.  Since I'm on the journey to rebuild, I'm trying to gauge the "sweet spot" for utilization.  I expect slight variations in my reports months due to cc utilization changes... but not a 50 point hit!!!


Current FICO Scores: EQ749; TU732; EX733
Message 4 of 32
Revelate
Moderator Emeritus

Re: TU Score Dropped by 50 Points???????


@Barneygirl wrote:

yes, I buy all three scores off here once a month.  Since I'm on the journey to rebuild, I'm trying to gauge the "sweet spot" for utilization.  I expect slight variations in my reports months due to cc utilization changes... but not a 50 point hit!!!


Would suggest that Scorewatch is a much more cost effective tool to do this with.




        
Message 5 of 32
Barneygirl
Frequent Contributor

Re: TU Score Dropped by 50 Points???????

I have score watch, but that only updates EQ, not the other two. Since I need to qualify for a mortgage here in a couple months I check the other two monthly. I about choked when I saw my highest score plummet to my lowest score overnight!!!

Current FICO Scores: EQ749; TU732; EX733
Message 6 of 32
Barneygirl
Frequent Contributor

Re: TU Score Dropped by 50 Points???????

So if TU implemented a new model, is it just FICO that uses it? I check my TU score daily on the TU site and my score hasn't changed!!

Current FICO Scores: EQ749; TU732; EX733
Message 7 of 32
Revelate
Moderator Emeritus

Re: TU Score Dropped by 50 Points???????


@Barneygirl wrote:
I have score watch, but that only updates EQ, not the other two. Since I need to qualify for a mortgage here in a couple months I check the other two monthly. I about choked when I saw my highest score plummet to my lowest score overnight!!!

Hate to say this but none of the scores currently purchasable from myFICO are used in a mortgage.

 

Can't get utilization metrics that tight for FICO '04 anymore from this site, best bet would be Equifax's Scorewatch product if you're trying to optimize utilization for a mortgage and I would suggest ignoring everything else and simply trust that EX/TU follow similarly for utilization on your file and resulting score.  Generally speaking simply hammering your utilization is the biggest issue, trying to pinpoint 1% vs 3% vs 5% numbers isn't worth nearly as much.

 




        
Message 8 of 32
HiLine
Blogger

Re: TU Score Dropped by 50 Points???????

Stick to the MyFICO Score Power reports for FICO scores that mortgage lenders actually use. Score Watch doesn't give you those scores anymore. 

Message 9 of 32
Revelate
Moderator Emeritus

Re: TU Score Dropped by 50 Points???????


@HiLine wrote:

Stick to the MyFICO Score Power reports for FICO scores that mortgage lenders actually use. Score Watch doesn't give you those scores anymore. 


It is Equifax Score Power which is FICO '04.

 

Nothing to do with myFICO in this instance, is twice now seen that mistatement, is it in your macro? Smiley Happy




        
Message 10 of 32
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