topic Re: Score Drop of 69 points.. in Understanding FICO® Scoring

Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 18:00:11 GMT

Losing 69 points after paying an $11 bill now that is crazy!!!

Re: Score Drop of 69 points..

simplynoir — Wed, 28 Mar 2018 18:12:22 GMT

Where did you get this score drop report from?

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 18:15:37 GMT

If $11 paid off your only installment account that was also your oldest account and let's say 1% of the original loan amount, a 69 point drop is not unexpected. Lots of factors at work there, so I think more info is required.

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 18:45:20 GMT

My FICO subscription

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 18:46:28 GMT

Was not an old account at all 7 months old

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 19:12:22 GMT

It feels like there is some key to the puzzle here that we don't have.

So did this drop your total utilization down to zero then? Without a picture of the rest of your credit report it's hard to pinpoint.

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 19:19:30 GMT

No $11 pay down, whether it results in $0 revolving debt reported or no open installment loan would result in a 69 point drop. Max lost from either of these 2 events would be 15-30 points.

Open verses a closed account doesn't matter with respect to age of accounts, as both open and closed accounts are factored equally into the FICO age of accounts factors.

If the OP lost 69 points from a FICO score, it was for a reason other than paying $11 down on something.

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 19:22:26 GMT

It shows when updated to $0 Balance and it's closed is when the drop occured... That's a crock

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 19:26:18 GMT

Yes $0 utilization on that closed card

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 19:32:05 GMT

You're confusing a credit alert with a new score pull.

See my signature link on why your FICO score drops with alerts and read it and ask questions.

Your profile changed in some way. The payment alert was not the reason for the score change.

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 19:32:42 GMT

For some odd reason it updated to paid loan this is a paid credit card.

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 20:06:44 GMT

Great info but that just ruined my home loan I give up...

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 20:10:19 GMT

OP, you need to look at your credit report and see what adverse change (paying $11 down on a CC isn't one) could have caused a 69 point drop. Such a score drop would be from something pretty major IMO. Depending on what it is, theres a chance you could get the adverse event turned around, then back would come your score immediately.

Re: Score Drop of 69 points..

bigred1967 — Wed, 28 Mar 2018 20:13:51 GMT

Absolutely nothing changed other than being added as an authorized user on a $5000 lowes card with 150 balance and no lates

Re: Score Drop of 69 points..

Anonymous — Wed, 28 Mar 2018 20:40:12 GMT

Something else changed to cause the drop. You need to get your paper report and go over it with a fine tooth comb.

Re: Score Drop of 69 points..

Anonymous — Thu, 29 Mar 2018 00:49:07 GMT

Absolutely nothing changed other than being added as an authorized user on a $5000 lowes card with 150 balance and no lates

While that may appear to be the case, I can assure you that the 69 point drop you experienced is evidence that something else in fact did change.

Re: Score Drop of 69 points..

arkane — Thu, 29 Mar 2018 00:58:52 GMT

@bigred1967wrote:
Absolutely nothing changed other than being added as an authorized user on a $5000 lowes card with 150 balance and no lates

Are you 100% sure it had no lates? 69 points seems just about right for a recent 30 day late.

Re: Score Drop of 69 points..

bigred1967 — Thu, 29 Mar 2018 01:06:19 GMT

None ever but she did say she called lowes the other day because they were only reporting $3300 as the credit limit noy the $5000 she actually has. So that may have triggered a dispute and maybe temporarily caused the dip. Is that possible?

Re: Score Drop of 69 points..

bigred1967 — Thu, 29 Mar 2018 01:11:08 GMT

Credit limit

$3,300

Minimum monthly payment $36 Opened Jun 7, 2016 (1 yr, 9 mos)

Payment History

Last payment Mar 2, 2018 Current Payment Status Current Amount past due $0 Worst Payment Status No Info

Account Details

Account status Open Type Charge Account Responsibility Authorized User Remarks Account information disputed by consumer, meets FCRA requirements Times 30/60/90 days late 0/0/0

Re: Score Drop of 69 points..

Remedios — Thu, 29 Mar 2018 01:13:37 GMT

Aren't accounts under dispute temporarily excluded from scoring?