Established Contributor
cashnocredit
Posts: 959
Registered: ‎07-18-2009
Re: Updated! Major drop - FICO now lower than 2 years ago when I had a PR on a clean, low util repor

cashnocredit wrote:

Got a score alert today. FICO has climbed from 703 to 738.  There has been absolutely no change to my credit report since the drop last week to 703.  This is not rebucketing. This is FICO with a software bug.

 



Correction. This 35 point rebound resulted from WF reporting a 0 balance from a couple hundred reducing the number of cards reporting a balance. No net affect on Util. Apparently, having the newest card being 1 y/o has resulted in rebucketing and greatly increasing the impact of "number of cards with balances"  In the past this made much less difference, perhaps dropping FICO 5 to 10 points. For instance all of my cars reported small balances a few months ago with a FICO in the 750's. Now it is THE major negative factor and dropped EQ FICO to 703 though the TU FICO is still up in the 750s.

 

Very strange behavior. I might add another card just to see if the bucket changes.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k