04-10-2013 08:05 PM
sorry to rant beyond the april walmart tu score but man I am just FIRED UP. I have been building and building and last month had a 683 prior to paying down over 10k in debt. combined that with no baddies, etc etc I was looking forward to jumping well over 700 this month. Well I open up the newest report.... BAM I dropped 31 points. No new inq nothing. What in the blue blazes is up with that. Pay 10k down, util goes down and we reward you with a 31 points drop. completely and utterly deflated.
04-10-2013 08:19 PM
Maybe your balances haven't updated yet....next month will be better i bet
04-10-2013 08:30 PM
I'm not saying that your drop in score is caused by rebucketing, but its a possibility. Do a search on the forum for rebucketing and it will better explain to you what it means. Below is a thread on rebucketing as an example.
04-10-2013 11:53 PM
04-11-2013 03:46 AM
Rebucketing or the FICO concept of scorecards refers to the FICO scoring system grouping people into different categories and then the model switching from category to category. If you switch which scorecard is being used to evaluate your report then the scoring model can change and you can lose or gain points in somewhat unpredictable ways....
Here is an article...
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO