topic myFICO Experian Alert-Very odd in Understanding FICO® Scoring

myFICO Experian Alert-Very odd

ladybug2016 — Fri, 22 Apr 2016 01:29:21 GMT

Hi all,

I received a myFICO alert today that an account I'm an authorized user on had a balance INCREASE of $348, and caused my score to increase 3 points?

This confuses me for many reasons, mainly because the utilization is super high now and also because I'm only an AU.

It's a Walmart Store card if that matters.

Anyone know why?

Thanks!!

Re: myFICO Experian Alert-Very odd

Anonymous — Fri, 22 Apr 2016 01:57:10 GMT

I would assume that there were other changes that occurred but the unknown positive outweighed the negative balance increase

Re: myFICO Experian Alert-Very odd

ladybug2016 — Fri, 22 Apr 2016 02:16:53 GMT

@Anonymous wrote:
I would assume that there were other changes that occurred but the unknown positive outweighed the negative balance increase

Thanks, kjohnson31 for your reply!

The alert was specifically for the balance increase/score increase. Wouldn't I have an alert if it were something else too?

New to the 3B product so not sure exactly how the alerts work but that's all it said.

Re: myFICO Experian Alert-Very odd

Anonymous — Fri, 22 Apr 2016 02:33:39 GMT

@ladybug2016 wrote:
Hi all,

I received a myFICO alert today that an account I'm an authorized user on had a balance INCREASE of $348, and caused my score to increase 3 points?

This confuses me for many reasons, mainly because the utilization is super high now and also because I'm only an AU.

It's a Walmart Store card if that matters.

Anyone know why?

Thanks!!

Could be AoAA went up? Use of retail cards? My DW got a score increase for finally getting and using a store card. Could be a number of things

Re: myFICO Experian Alert-Very odd

ladybug2016 — Fri, 22 Apr 2016 02:35:42 GMT

@Anonymous wrote:
@ladybug2016 wrote:
Hi all,

I received a myFICO alert today that an account I'm an authorized user on had a balance INCREASE of $348, and caused my score to increase 3 points?

This confuses me for many reasons, mainly because the utilization is super high now and also because I'm only an AU.

It's a Walmart Store card if that matters.

Anyone know why?

Thanks!!
Could be AoAA went up? Use of retail cards? My DW got a score increase for finally getting and using a store card. Could be a number of things

Thanks for the reply, Harley 14! This FICO stuff is so confusing. Just when I think I understand it, I don't...

Re: myFICO Experian Alert-Very odd

Revelate — Fri, 22 Apr 2016 02:48:41 GMT

Don't sweat the small swings <10 points, like at all. That's all normal with a busy report and anyone actively using their credit report is going to see that.

Eventually things trend to a much more steady state: my EQ Beacon 5.0 for example has increased 1 point the entire year. My FICO 8 (EX/EQ) are pretty flat too... isn't much I can do materially to affect them short of running up balances on my card or something more stupid than that.

Re: myFICO Experian Alert-Very odd

ladybug2016 — Fri, 22 Apr 2016 17:09:57 GMT

@Revelate wrote:
Don't sweat the small swings <10 points, like at all. That's all normal with a busy report and anyone actively using their credit report is going to see that.

Eventually things trend to a much more steady state: my EQ Beacon 5.0 for example has increased 1 point the entire year. My FICO 8 (EX/EQ) are pretty flat too... isn't much I can do materially to affect them short of running up balances on my card or something more stupid than that.

Thanks so much, Revelate! Good advice and I appreciate it.

Looking forward to the day when my scores are like yours and just stay put!

Re: myFICO Experian Alert-Very odd

NRB525 — Sat, 23 Apr 2016 15:17:03 GMT

+1 to don't sweat the small moves.

Over the last month, after my Diners card started reporting, my EX has been trying to stabilize:

Feb 16: 748 EX

No EX changes for nearly a month

March 10 +7 after INQ for another card

March 16 +9 Diners first reports with $2k and 10% utilization

March 18 -4 AX Delta goes off zero to $300

April 4 -2 PenFed Secured goes to $267 and over 50% utilization

April 8 -9 BofA MC goes from 24% to 22% util.

April 15 +20 Diners goes from $2k to $34 balance.

April 21 -16 Discover CL increases $6k, balance increases $800, Utilization goes from 25% to 20%

April 21 EX = 753. 5 point net increase during two-plus months.