topic Re: Why scores change between bureaus in Understanding FICO® Scoring

Why scores change between bureaus

Anonymous — Tue, 13 Dec 2016 06:47:56 GMT

So I had a cc that was at 67% utilization......payed it to zero balance

Experian dropped -12 pts
Transunion increased +3 pts
Equifac. Stayed same =

Nothing else in my report changed.....does each bureau want a different thing?

Re: Why scores change between bureaus

Anonymous — Tue, 13 Dec 2016 12:29:32 GMT

Was that your only credit card with a balance, or do you have others?

Are you sure your new $0 balance reported and was updated with all 3 bureaus already? Perhaps only 1 or 2 have the updated information where the other(s) don't.

Re: Why scores change between bureaus

Anonymous — Tue, 13 Dec 2016 14:17:50 GMT

Ahhh. I didn't check that part.equifax hasn't reported...

And yes the other cc were zero balance......which is a no, no......lol. just weird that is good for one is bad for the other......which is super frustratinh......trying to get a mortgage and I'm 5 points offf.......so I'm trying to squeeze every point out I can..... :/

Re: Why scores change between bureaus

Anonymous — Tue, 13 Dec 2016 15:01:30 GMT

Well, at least you figured that out. When that $0 balance reports to the other bureau(s) those scores will drop as well. All you really have to do to get those points back is allow a small balance (say $5 - $10) to report on one card, which with a bunch of cards should be simple to do fairly quickly assuming they likely have a variety of reporting dates.

Do you have an open installment loan? If not, you could pick up an easy 25-30 points with the addition of one which would be more than enough points for what you're trying to accomplish.

Re: Why scores change between bureaus

Anonymous — Tue, 13 Dec 2016 15:11:17 GMT

Yeah I have 3 installment loans.....have money to pay down to improve utilization.......which would improve score.......but then I won't have a down payment....lol....kind of a catch 22

Re: Why scores change between bureaus

Revelate — Tue, 13 Dec 2016 15:13:55 GMT

@Anonymous wrote:
Yeah I have 3 installment loans.....have money to pay down to improve utilization.......which would improve score.......but then I won't have a down payment....lol....kind of a catch 22

It almost never makes sense to pay down installment loans when talking mortgage from a credit perspective. Installment utilization is only on the Experian score in the trifecta, EQ and TU don't care at all.

If you need to make room on a DTI calculation, then paying off installment loans makes a difference... or just buy a cheaper house anyway.

Pretty up your revolving utilization, leave the installment utilization alone, then look to the mortgage process.