Re: Trying to understand Fico scoreing
09-19-2010 08:42 PM
There are too many variables at play here, but based on the info, here's what I would look for in the following order:
1) You mentioned you had 2 CCs last year but that isn't mentioned this year. If one ended up closing, then that could have resulted in quite a few points lost due to the loss in mix of credit.
2) You mentioned 2 delinquent accounts for last year. If those are still reporting, make sure they have not updated since 2009. If they updated this year, even if they didn't report any new lates, your FICO scores can drop. Look to make sure that a "2010" date is nowhere to be seen anywhere within the TL on your CR.
3) Look to make sure no OC accounts fell off in the past year. While your length of history is great, a dropped OC account can impact your AAoA negatively and that can drop your scores.
4) If both CCs are reporting this year, make sure both aren't reporting balances. That can drop your FICO scores.
5) If those delinquent account disappeared you could have been rebucketed, and that can result in a short-term score loss.
6) Make sure no new accounts were added since last year (aside from the mortgage).
7) Look at your FICO reports closely. Make sure the Positive and negative factors jive. Also look on the Credit At-A-Glance page to make sure that looks good.
I'd start with the above. You can lose points with a new mortgage. It can impact your AAoA and that can drop your score. However, score damage is temporary and usually goes away within a year. Also check with your lender to see if they pull FICO scores and if they did, check to see which versions they used. Most lenders now use a TU FICO version that is different from this site. That can easily explain the loss on TU.