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Valued Contributor
Mike_B03
Posts: 1,141
Registered: ‎11-30-2012
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"Score Watch" change, but it doesn't tell you why?

I'm a new member of Score Watch andI got a notice that there was a change in my credit score (dropped by 3 points). I thought it would tell me why it dropped...it doesn't? What's the use knowing it dropped if it doesn't tell you the cause?

 

I am also signed up with Credit Karma and they actually reported a 1 point increase today due to utilization going from 22% to 0%. 

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HiLine
Posts: 2,870
Registered: ‎10-19-2012
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Re: "Score Watch" change, but it doesn't tell you why?

http://ficoforums.myfico.com/t5/myFICO-Product-Feedback/Score-Watch-Guide/td-p/603543

 

This thread will answer all of your questions. The board over there specializes in MyFICO's products. 

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sphinx313
Posts: 567
Registered: ‎02-12-2011
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Re: "Score Watch" change, but it doesn't tell you why?

I've never read that link so that was interesting, but I had the same thing with SW today as well. It didn't list a reason, but through deductive thinking sometimes you can come up with the answer such as an increase in utilization or an inquiry.



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Valued Contributor
Mike_B03
Posts: 1,141
Registered: ‎11-30-2012
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Re: "Score Watch" change, but it doesn't tell you why?

[ Edited ]

It didn't give me a report either, but I did have one available to use, so I went ahead and took a look.

 

Comapred to my credit report from Dec. 4th where I had a credit score of 665, my utilization dropped from 49% to 42% and I had an additional inquiry. 

 

You would think the point drop was due to the inquiry, however I got a credit alert on Dec. 7th when that inquiry happened and the alert showed my credit score was still 665, so it didn't seem like the inquiry caused any change to the credit score.

 

I have to guess it was due to the inquiry and the effect was delayed?  

 

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HiLine
Posts: 2,870
Registered: ‎10-19-2012
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Re: "Score Watch" change, but it doesn't tell you why?


Mike_B03 wrote:

It didn't give me a report either, but I did have one available to use, so I went ahead and took a look.

 

Comapred to my credit report from Dec. 4th where I had a credit score of 665, my utilization dropped from 49% to 42% and I had an additional inquiry. 

 

You would think the point drop was due to the inquiry, however I got a credit alert on Dec. 7th when that inquiry happened and the alert showed my credit score was still 665, so it didn't seem like the inquiry caused any change to the credit score.

 

I have to guess it was due to the inquiry and the effect was delayed?  

 


If the score change was a result of the new inquiry, it would've happened at the same time the new inquiry was reported.

 

Your score drop could be cause by many different things that don't appear on your credit report, such as the new age of your accounts as well as your baddies.

 


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