@noobafterbk wrote:
ACCOUNT BALANCE
$1,068 paid down to $495
dropped my equifax score 6 points??
why does fico penalize for someone paying down their balances and showing payment responsibility??
my overall util is now below 15% which i thought was a good thing this fico scoring is getting me down.
It's probably sometohing else on your report, maybe you only have one card, nobody knows. The FICO algorithm is a secret.
@tonyjones wrote:It's probably sometohing else on your report, maybe you only have one card, nobody knows. The FICO algorithm is a secret.
Or else it's a random number generator, I haven't been able to determine which yet.....
@noobafterbk wrote:
ACCOUNT BALANCE
$1,068 paid down to $495
dropped my equifax score 6 points??
why does fico penalize for someone paying down their balances and showing payment responsibility??
my overall util is now below 15% which i thought was a good thing this fico scoring is getting me down.
What happened in your credit file (regardless if EQ reported it) between the last time EQ did any score change, and this event? Score changes are not always (or even usually) directly tied to that specific event. The score changes are usually after a couple of events have happened, so you have to go back and look at all recent history.
Even then, some score adjustments happen, and 6 points is not a lot of change.
What are your MyFICO scores on the three bureaus?
@noobafterbk wrote:
eq.634 now
ex 648
tran 649
absolutely no changes to report in 2 months that i created except 8 + point bumps up last month for incr balance and now i pay down that incr and score drops 6 points
Is your score trend generally up? If so, that's just the slow increase you should be seeing, over a long period of time, from whatever was negative further in the past in your file.
Any charge offs, late pays or other problems in your past credit file?
@noobafterbk wrote:
yes bk 12 months ago but reports are cleaned and reporting correctly i just noticed an old hsbc neg has aged off ;it was reporting IIB but has aged off my report after 8.5 yrs of reporting. could that be it?
Ok, that would be the major negative you are working to get out from under.
Until that falls off, your score is heavily influenced by it, but should keep rising gradually as it fades. When it is gone completely, you should see a final pop, then you will be able to better compare small issues like a balance reporting or small changes in amounts, and make sense of it.
Good luck!