topic Re: grumble in Credit Cards

grumble

Anonymous — Wed, 09 Mar 2011 14:20:11 GMT

My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%. That bites

Re: grumble

score_building — Wed, 09 Mar 2011 15:34:22 GMT

@Anonymous wrote:
My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%. That bites

Score never drops from a reported decrease in balances.

@Anonymous @ thread title.

Re: grumble

Anonymous — Wed, 09 Mar 2011 15:49:37 GMT

The more likely answer is that your score dropped because today is a Wednesday, and historically you make poorer credit decisions on Wednesdays.

(This is not true, I hope nobody believes me)

Re: grumble

Anonymous — Wed, 09 Mar 2011 15:56:14 GMT

@Score, well that was the only thing that reported that caused the decrease in score.

Re: grumble

Anonymous — Wed, 09 Mar 2011 16:06:46 GMT

@score_building wrote:
@Anonymous wrote:
My EQ score dropped 14 points today because I paid $200 off of one of my cards since it lowered the balance by 9%. That bites
Score never drops from a reported decrease in balances.

@Anonymous @ thread title.

Common sense would say that were true, but when it comes to FICO scores, I never say never after the whole "rebucketing" scandal we went through. It seemed like tons of things caused you to be "rebucketed" and thus your score could go down as a result of positive changes.

Re: grumble

score_building — Wed, 09 Mar 2011 16:19:36 GMT

Even accounting for rebucketing would be surprised to find any scenario

where a FICO formula penalizes for a reported balance decrease.

Re: grumble

Anonymous — Wed, 09 Mar 2011 16:31:37 GMT

Well, the scenario would be that the balance decrease wasn't enough to increase the score on it's own, but simultaneously something else caused the OP to be "rebucketed," like accounts aging or something, and that was responsible for the decrease.

That's my understanding of it, anyway.

Re: grumble

score_building — Wed, 09 Mar 2011 16:50:33 GMT

@Anonymous wrote:
Well, the scenario would be that the balance decrease wasn't enough to increase the score on it's own, but simultaneously something else caused the OP to be "rebucketed," like accounts aging or something, and that was responsible for the decrease.

That's my understanding of it, anyway.

In any case, also agree that, 'never say never' is a good rule of thumb when it comes to FICO scoring!

Re: grumble

jackig64 — Wed, 09 Mar 2011 18:00:13 GMT

Hi I am new to the forum.....can someone please give me a better description of "rebucketing". Thanks!!!!!!!!!

Re: grumble

Anonymous — Wed, 09 Mar 2011 18:09:35 GMT

@jackig64 wrote:
Hi I am new to the forum.....can someone please give me a better description of "rebucketing". Thanks!!!!!!!!!

Hi there. If I tried to explain it I'd just confuse both of us. That probably means I don't really understand it.

Anyway here are some past discussions on the subject of Rebucketing.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

topic Re: *grumble* in Credit Cards

*grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

Re: *grumble*

topic Re: grumble in Credit Cards

grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble

Re: grumble