topic Re: FICO score drop in Understanding FICO® Scoring

FICO score drop

Shannon3671 — Thu, 24 Mar 2016 02:32:13 GMT

I'm starting to really get tired of trying to understand FICO scores. Everytime my Transunion sends an alert to MyFICO, they send an alert that the balance on my retail trade accounts have gone down and then subsequently send an alert that my FICO score has dropped anywhere from 2-8 points. These are the only changes and it's everytime the retail balance drops. I can't not pay my monthly bill, but I find it completely rediculous that they are dropping my score for making payments. So frutstrating. I tried calling them to find out why and the very hard to understand representative kept wanting to know what information I was disputing. I kept telling her none of it that I just wanted to know why my score was dropping everytimes the balance went down. All she would give me was that it was computer generated and she'd send me a copy of my report...useless.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 02:57:35 GMT

@Shannon3671 wrote:
I'm starting to really get tired of trying to understand FICO scores. Everytime my Transunion sends an alert to MyFICO, they send an alert that the balance on my retail trade accounts have gone down and then subsequently send an alert that my FICO score has dropped anywhere from 2-8 points. These are the only changes and it's everytime the retail balance drops. I can't not pay my monthly bill, but I find it completely rediculous that they are dropping my score for making payments. So frutstrating. I tried calling them to find out why and the very hard to understand representative kept wanting to know what information I was disputing. I kept telling her none of it that I just wanted to know why my score was dropping everytimes the balance went down. All she would give me was that it was computer generated and she'd send me a copy of my report...useless.

MIne does that too, always 11 points. when infact it hasnt dropped at all. It only does it on TU and only on MyFico. Its not a CRA problem. its a Myfico problem

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 02:58:48 GMT

Are your retail trade accounts reporting a 0 balance? because that could cause it.

quoted from another thread on this site:

crrredit wrote:

I have two CCs reporting and one store card. I let one card report a small balance each month. This month I paid the store card before the statement date so it reported a 0 balance and let a CC report. Got an alert that my TU score dropped 13 points, and the reason why was my total balance for all "retail trades accounts" had changed to 0.

I thought the best thing was to let one card, whether CCs or store cards, report a small balance and have the others at 0. It is but if your total balances drop to 0 (AT THE CRA) before another card reports its small balance you are going to get the Fico drop as you just did.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:01:14 GMT

This is how MyFico sees my TU score and it only does this when it updates my retail cards. But my actual TU score is whats in my Sig. I have no idea why it only does it on TU. hopefully one day they will fix it. Your score probably hasnt dropped at all.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:04:30 GMT

what my actual TU score looks like when i pull a report from MyFico, not off the alert, the above one is from the alerts i recieve

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:07:41 GMT

Yeah, haha.

I have a little technical background (and a wild imagination), so it seems to me the myFico may have an API or similar to pull data out of TU, and TU has very verbose logging like, every calculation it makes.

So if it's thinking like "okay, he has... 600 + 1 + 35 - 20 = 616" and myFico should just grab the result, but myFico gets every line "Score changed: 601, score changed: 636, score changed 616".

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:13:06 GMT

@Anonymous wrote:
Yeah, haha.

I have a little technical background (and a wild imagination), so it seems to me the myFico may have an API or similar to pull data out of TU, and TU has very verbose logging like, every calculation it makes.

So if it's thinking like "okay, he has... 600 + 1 + 35 - 20 = 616" and myFico should just grab the result, but myFico gets every line "Score changed: 601, score changed: 636, score changed 616".

your probably right!! when they pull the retail and bank card data. I think mine is because i have a GW at 53% so it's kinda doing what your discribing. Seeing a high UTI on 1 card, then dinging me for it because it's not seeing the overall UTI which is only 3%, but when i pull the report it's factoring in the overall UTI.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:15:14 GMT

Around october is when i bought some furniture too for 18mo intrest free and you can see in november its gone plan bat S crazy LOL

Re: FICO score drop

Shannon3671 — Thu, 24 Mar 2016 03:24:47 GMT

Thank you all for the reassurance. That's whay I did Harley 14. I bought some furniture at 0% interest for 24 months. Now, evertime I make my payment my TU shows a drop through MyFico. It's bad enough the retailer shows the balance to include all applicable interest that isn't going to be paid, making it higher than it really is overall, but then to think my payments were dropping my score was crazy.

I thought MyFICO was one of the more accurate of the monitoring companies...this makes me wonder if that's the case then with situations like this coming into play.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 03:37:58 GMT

@Shannon3671 wrote:
Thank you all for the reassurance. That's whay I did Harley 14. I bought some furniture at 0% interest for 24 months. Now, evertime I make my payment my TU shows a drop through MyFico. It's bad enough the retailer shows the balance to include all applicable interest that isn't going to be paid, making it higher than it really is overall, but then to think my payments were dropping my score was crazy.

I thought MyFICO was one of the more accurate of the monitoring companies...this makes me wonder if that's the case then with situations like this coming into play.

Yea sounds simular. I really just try and use my fico for alerts and when something updates. Plus all the other scores i get on MyFico. TU you will see the core go back up when something else updates. I use CCT for my scores EX everyday and TU and EQ once a month 15 a month. I have them both. Then my barclay, walmart, they keep good track of my tu score. I have them roatated pretty good to where I can see my tu score once a week, EX of coarse everyday because of CCT. EQ is the only odd ball but i can atleast keep track of the alerts here and score changes, and with CCT I get that once a month also.

I try to keep it all covered LOL

Re: FICO score drop

Shannon3671 — Thu, 24 Mar 2016 03:53:20 GMT

Wow, sounds like it...lol. I got it because my bankruptcy finally falls off in May. I was lucky enough to get TU and Ex to do an early exclusion (no luck with Eq at all), but oddly enough, I saw no change in my FICO scores at all on either report as a result of the EEs. Not sure why or if that takes a little longer to factor in, but it was a tad disheartening.

Re: FICO score drop

Anonymous — Thu, 24 Mar 2016 07:15:47 GMT

Please delete, replied to wrong post. Sorry to revive a zombie thread.

Re: FICO score drop

Shannon3671 — Thu, 24 Mar 2016 11:37:10 GMT

Hi Smoked. Not sure how to delete a post, but no worries. Also, this is a current conversation. You may have seen our registration date and thought that was the conversation date. Have a great day.

Re: FICO score drop

Revelate — Fri, 25 Mar 2016 01:06:35 GMT

The scores come from the bureau, as does the data.

Put blame where it's due, something is funky with TU as has been noted on other posts. I never had an issue with my lone retail card (which I just closed) but we've seen awkward things from TU in the past and we undoubtedly will again in the future with something simply off on the consumer facing side of their infrastructure.

Re: FICO score drop

Anonymous — Fri, 25 Mar 2016 19:03:44 GMT

@Revelate wrote:
The scores come from the bureau, as does the data.

Put blame where it's due, something is funky with TU as has been noted on other posts. I never had an issue with my lone retail card (which I just closed) but we've seen awkward things from TU in the past and we undoubtedly will again in the future with something simply off on the consumer facing side of their infrastructure.

Exactly correct. This is a TU problem, not a MyFico problem. I have the same issue with my soft pull TU scores from Barclays and Discover. They are both 50 to 60 points lower than my actual score.

Re: FICO score drop

Anonymous — Fri, 25 Mar 2016 20:41:19 GMT

Mine are always right on the other ones.
So in essence I could be denied a CLI because TU has the information wrong? I know when I got the alert I pulled a TU about 5 minutes later and it was up 11 again. Next day got an alert it was back down 11. Pulled a new report again and was back up the 11 points. 30$ spent in thinking something happened lmao

Re: FICO score drop

Anonymous — Fri, 25 Mar 2016 22:27:05 GMT

@Anonymous wrote:
Mine are always right on the other ones.
So in essence I could be denied a CLI because TU has the information wrong? I know when I got the alert I pulled a TU about 5 minutes later and it was up 11 again. Next day got an alert it was back down 11. Pulled a new report again and was back up the 11 points. 30$ spent in thinking something happened lmao

Never been an issue for me. Got my eBates, (TU puller), bumped from $6K to $10K recently, and my last Discover CLI was $4500. I also frequently check rates with web based lenders that pull TU. The score is always correct when they do their soft pull. That's why, even though it used to drive me crazy, I no longer worry about it.

Re: FICO score drop

Revelate — Fri, 25 Mar 2016 23:02:12 GMT

@Anonymous wrote:
Mine are always right on the other ones.
So in essence I could be denied a CLI because TU has the information wrong? I know when I got the alert I pulled a TU about 5 minutes later and it was up 11 again. Next day got an alert it was back down 11. Pulled a new report again and was back up the 11 points. 30$ spent in thinking something happened lmao

Two different systems looking at it.

Full pull = bureau data.

The TU monitoring system that they developed for creditors which is partially what they use here at MF, is apparently a secondary cached source with strange data. The implementations are different from other bureaus looking at the SP's on each report: some bureaus are monitored with not only whatever their change trigger is but also backed by SP's (Experian after the new update apparently) and EQ has always been the best in market from their Scorewatch product as they were really the first ones to develop the solution from a consumer centric model (and first to sell it to consumers too).

Comparing the EX and TU datasets though including SP information, you'll see a marked difference in how things get updated here on myFICO. 3 different products, 3 different implementations, one aggregator of all three = MF. Those products were originally created for creditors, which is why some of big changes, like negatives falling off, aren't tracked well because the creditors simply didn't care if that happened.... only if new negative information gets added, not if we get cleaner.