topic Re: Inconsistent scoring perhaps? in Understanding FICO® Scoring

Inconsistent scoring perhaps?

Anonymous — Thu, 18 Oct 2007 15:59:34 GMT

I like my current higher scores, but I can't make sense of it.

CC#1 (13 yrs.old) $10K CL

CC#2 (4.5 mo.old) $200 CL

Sep 10, 2007 - EQ=701 (Clean report)

CC#1 balance: $5,900

CC#2 balance: $0

Sep 13, 2007 - EQ=680 (Clean report)

CC#1 balance: $8,200 (alert: score decreased)

CC#2 balance: $3 (alert: unchanged)

Oct 16th, 2007 - EQ=775 (Clean report)

CC#1 balance: $5,250 (alert: score increased)

CC#2 balance: $3 (alert: score unchanged)

If anything the last score should very close to that of Sep. 10th.

I pulled a report from Equifax.com to verify the values. They are correct.

But what's weird is that the FICO Simulator doesn't see the $5,250 debt, and lists the total debt of $3.**. WHY? I spoke to customer support and they had me pull the score again, it came back the same. I'm not complaining about higher scores, but what would then account for such a crazy increase? Perhaps it's all right, but I felt like maybe the system wasn't taking the current $5,250 debt figure into consideration? By the way, I got the very same thing happening to my TU score. And TU also lists the debt correctly. What do you make of it? I think that CC#2's influence can only be marginal, if anything. It's all CC#1, I think, but then my scores should've been higher back in September too.

Re: Inconsistent scoring perhaps?

haulingthescoreup — Fri, 19 Oct 2007 00:15:37 GMT

OK, this is a reach, but have you clicked on the details button for CC#1 on screen 5 (the accounts listing)? See if it is still calling the credit type "revolving", or if now it's installment or something else.

Sometimes CCC's reclassify a card from revolving credit to installment or line of credit or something. That changes how it's calculated. Or they miscoded it. Or it's space aliens!

Re: Inconsistent scoring perhaps?

Anonymous — Fri, 19 Oct 2007 00:31:49 GMT

haulingthescoreup wrote:

Sometimes CCC's reclassify a card from revolving credit to installment or line of credit or something. That changes how it's calculated. Or they miscoded it. Or it's space aliens!

LOL

Re: Inconsistent scoring perhaps?

Anonymous — Fri, 19 Oct 2007 02:42:36 GMT

@haulingthescoreup wrote:
OK, this is a reach, but have you clicked on the details button for CC#1 on screen 5 (the accounts listing)? See if it is still calling the credit type "revolving", or if now it's installment or something else.

Sometimes CCC's reclassify a card from revolving credit to installment or line of credit or something. That changes how it's calculated. Or they miscoded it. Or it's space aliens!

Actually, both CCs report exactly as they should be, as they had before, as revolving accounts, on either report. Perhaps the FICO Simulator's reporting of the $3 revolving debt is a system hickup. I hope I am not disappointed after the next month's reporting, when I intend all accounts to show a balance of $0 for sure. Otherwise, if the scores are correct as of now, then 1) it simply sees the $5k debt as $0 now and a month from now it should actually report $0 and the score will not budge, or 2) it sees the $5K debt as $5K and when it starts reporting $0, it should improve the score even more. If the scores remain this high, that'd be great, but the reason why I'm concerned is that since I can't seem to figure out the reason for this high increase, I hope it doesn't turn out to be a dud which would be a major disappointed. It's especially strange to me because since those 2 reports are some of them most simple ones, consisting of 2 revolving accounts and nothing else. So, there's nothing else that could be affecting the score than the balances, especially since we're talking about a 1-2 month changes.